• Journal of Family Resource Management and Policy Review
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• v.15 no.2
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• pp.147-171
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• 2011

The purpose of this study was to examine low-income households' financial problems and the demand for financial counseling. For these purposes, a survey of 500 low-income households was conducted by an on-line survey company. The results were as follows. First, four types of low-income households classified by income and job criteria were: the not-working poorest (16.2%), the working poor (27.0%), the not-working low-income (13.8%), and the working low-income (43.4%). Also, seven areas of financial problems were found through factor analysis. They included difficulty of survival, insufficient funds for special expenditures, defaults on financial obligation, decrease of income, increase of debts, emotional anguish, and difficulty in meeting living expenditures. 61.6% of respondents requested financial counseling, and 44.5% of them preferred internet counseling to counseling by phone or in-person, while 49.5% desired access to public counseling organizations. The five types of financial counseling content for low-income households that were found through factor analysis were financial planning, credit management, asset management/investment, public support, and use of credit cards. The low-income householders demanded financial planning counseling and pubic support counseling more than the other types of financial counseling. Logistic regression analysis revealed that the demand for financial counseling participation was significantly influenced by age and income. The demand for financial counseling content was age, income, and types of financial problems. Therefore, general financial counseling programs for low-income households should be expanded. Furthermore, those counseling programs can be useful if they not only include credit management but also financial planning, economic support information and savings.

• International Journal of Human Ecology
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• v.17 no.2
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• pp.31-42
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• 2016

We examine the self-control problems of U.S households and their effects on households' retirement preparedness based on the Behavioral Life-Cycle Hypothesis. Using the 2010 Survey of Consumer Finances dataset, the level of retirement adequacy was estimated with income replacement ratio (IRR), and only 42% of households were adequately prepared for retirement. Results from logistic regression analysis indicated that households with loan payment and saving self-control problems were less likely to be prepared adequately for retirement compared to those without such problems. Age, education, race/ethnicity, marital status, employment status, retirement plans, expected retirement age and risk tolerance were significantly related to retirement preparedness. This study provides financial educator and researchers with suggestions on how to help household make a better retirement plan.

• Journal of the Korean Home Economics Association
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• v.40 no.2
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• pp.143-159
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• 2002

Consumer Education Policy for -Focusing on developing Social support System- The purpose of this research is to understand the change of future consuming environment and the characteristics of future potential consumer: the net generations. With those research results, we deduced our goal, content and method of consumer education for these net generations. Finally, I suggested a scheme of the social construction by demand of our future society. Literature review and depth interview are used for this research. The main factors of the change of our future consuming environment are Digitalization, globalization, improvement of consumer sovereignty, Sustainable consumption culture, the increasing pursuit of safe life. It is necessary to educate our future consumer, net generations, the information searching skills in order to be able to obtain right information. We also need to educate them how to practice the safe life and Sustainable consumption and how to get consumers sovereignty. The method of the education requires interchangeable communication. We need social networking system for the support of consumer education, in order to build this social system. We need an administrative support from the government and financial support from corporations. We have suggested that it is very desirable to share all the information developed among Academic field, Consumer related organizations and schools by this network be build.

• Journal of the Korean Society of Clothing and Textiles
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• v.35 no.3
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• pp.281-291
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• 2011

This study investigates the influence of self-efficacy in purchasing clothes in the consumer satisfaction formation process. A survey was conducted on 300 adults living in the Seoul and Gyeonggi area and 231 completed questionnaires were used for analysis. The survey questionnaires measured the respondent's self-efficacy in purchasing clothes, expectation, perceived performance, expectation confirmation, and satisfaction level. The data were analyzed by moderated regression analysis. The results are as follows. First, for apparel products, perceived performance, and expectation confirmation have a direct effect on consumer satisfaction, while expectation has no direct effect on consumer satisfaction. This finding agrees with the results reported in a previous study on consumer goods with low ambiguity in assessing products and services including sneakers, underwear, cereals, and financial services. Second, the lower the self-efficacy in purchasing clothes, then the increased effect of the expectation confirmation that influences consumer satisfaction. However, the self-efficacy in purchasing clothes did not show any moderating effect on the perceived performance affecting the consumer satisfaction. The self-efficacy in purchasing clothes seems to have a moderating effect on the consumer satisfaction formation process by affecting the ambiguity in pre-purchase product assessment and not in post-purchase product evaluation.

• Journal of the Korean Home Economics Association
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• v.45 no.10
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• pp.45-57
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• 2007

The causes of indebted overspending were investigated by examining household expenditure patterns using the data from the 2002 Family Expenditure Survey. The five major expenditure categories were identified by factor analysis, and the six types of indebted overspending were clustered. About 28% of the indebted overspending was done out of necessity, and food, utilities, housing, and health care accounted for about 42% of the household expenditure. Luxury spending accounted for about 25% of the overspending by indebted households who spent about 24% of the household expenditure on clothing, entertainment, and private education. Cars (22%) and education (20%) were found to be other major causes of indebted overspending. Paying off debt and durable purchases were identified as the major causes of indebted overspending, but had a low frequency. Finally, the financial status of the four major types of indebted overspending households was evaluated.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2001.10a
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• pp.184-187
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• 2001

The purpose of this study is to find the perceived risk which influences consumers' purchase attitudes so that consumers' participation in electronic commerce could be enhanced. Consumer behavior involves risk in the sense that any action of a consumer will produce consequences which one cannot anticipate, and some of which are at least likely to be unpleasant. The types of perceived risks are financial risk, performance risk, social risk, psychological risk, time loss, opportunity loss, privacy risk, fashion loss, delivery risk, seller's response risk and seller's fraud risk The findings are as follows: $\circled1$ The financial risk, performance risk, time loss, delivery risk, seller's response risk and seller's fraud risk have negative effects on the consumers' purchase attitudes. $\circled2$ There is no difference in the level of perceived risk according to the demographic factors such as age, education and income level.

• International Journal of Human Ecology
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• v.8 no.2
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• pp.17-28
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• 2007

Using data from the 2001 American Housing Survey, the purpose of this study is to profile the economic and socio-demographic characteristics of baby boomers according to housing down payment sources and to identify determinants of housing down payment sources among baby boomers. Results of the multinomial logistic regression analysis indicated that household income, housing value, age, education, gender, marital status, race, and geographic region were all significant determinants of housing down payment sources among baby boomers. Identification of factors affecting the occurrence of borrowing for housing down payment would aid in the development of financial education programs for baby boomer households.

• International Journal of Human Ecology
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• v.9 no.2
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• pp.77-92
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• 2008

This study investigates the characteristics of young debtors at risk of repayment problems. A cumulative logistic model is used in order to examine the effects of explanatory variables on the probability for young adults to pay off debt obligations. The following conclusions can be drawn from the results. First, the high indebtedness of young debtors increases the probability of payment delinquency whereas high income by young debtors decreases the probability. Second, financial emergencies that young debtors experienced and payment delinquency are positively related. Finally, financial resources for emergency needs reduced the probability of being delinquency on payment of household debt.

• Journal of Family Resource Management and Policy Review
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• v.10 no.2
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• pp.19-42
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• 2006

The purpose of this study is to analyze the changes in contents of home management part in the home economics textbooks fur middle school from the 1st to the 7th curriculum period. The contents in the all of home economics textbooks published in every curriculum period are analyzed. The major findings of this study are as follows: 1. The part of home management is divided into seven specific areas including 'definition and process of home management', 'utilization of family resource and environment management', 'time management', 'household labor/work nanagement', 'family financial management', 'purchasing', and 'consumer protection'. 2. From the 6th curriculum period, the area of 'definition and process of home management' begun to be explained using system's approach and the area of 'household labor/work management' changed its' focus from household to self management. 3. The areas emphasized in the beginning of curriculum period were 'family financial management' and 'household labor/work management'. The 'consumer protection' ' and 'utilization of family resource and environment management' were the areas emphasized in the later curriculum period. 4. The contents of 'family financial management' area have changed very little, however, the contents of 'purchasing' area have changed a lot during the all curriculum periods. 5. The contents of illustrations, tables, pictures, and activities have changed according to changes of the contents of the textbooks.

• Journal of Family Resource Management and Policy Review
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• v.17 no.1
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• pp.199-219
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• 2013

The purpose of the study was to investigate the effects of money transfer between generations on preparation behaviors for retirement, separated into assets and saving for retirement. The survey was conducted by targeting 422 married people across the nation. The factor of money transfer between generations was defined as the inheritance and gift variable. The data were analyzed using SPSS 20. Correlation, analysis of variance (ANOVA), and multiple regressions were utilized. The results indicated that preparation behaviors for retirement are affected by the economic independence of parents, inheritance, expenses for children's education, and marriage. Retirement assets were significantly affected by inheritance, the economic independence of parents, educational expenses for children, financial assets, and amount of debt, while the significant factors related to retirement savings were interests on retirement, income, wedding expenses for children, economic independence of parents, and educational expenses for children. It was concluded that the financial preparation for retirement ought to be expanded from one household's finances to finances between generations.