• Journal of Digital Convergence
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• v.13 no.5
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• pp.31-39
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• 2015

In the modern society, as development innovative technology consumers could access various information. It make consumers empower in the market, and information asymmetry problem were solving more and more. In the technical information, however, there are still information asymmetry because technical information is very difficult to understand, and those are related with professional knowledge such as financial information. This study used the dataset which was collected to track Korean consumers consumption index by KCA(Korea Consumer Agency) which included consumer's problem experience at financial field. The results are followings. Firstly, consumers want to get exact and important information to decide purchase or not and comparative information in technical information area. Secondly, age is the influence variable to experience more problems in technical information section. Thirdly, consumer's subjective financial competency is major influence factor to reduce problem experience.

• Journal of Family Resource Management and Policy Review
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• v.8 no.1
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• pp.15-28
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• 2004

Financial planning in the United States has evolved since 1980 from a field comprised of specialists, such as insurance agents, bankers, accountants, and stock brokers, offering particular services to clients, to the situation today, where most professionals offering financial services to households market themselves as comprehensive financial planners. The breadth of knowledge required for financial planning can be seen in the 106 topics covered by the Certified Financial Planner(CFP) Exam. This study reviews the actual conditions of financial planning in the U.S. including suppliers of financial services to household, the philosophy of financial planning, and the financial planning process as described by the CFP Board. Also, this study discusses related research about problems and challenges faced by households in financial planning in the U.S.

• Journal of Families and Better Life
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• v.24 no.4 s.82
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• pp.37-50
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• 2006

The purpose of this study is to analyze the determinants of financial behaviors and subjective economic well-being in personal financial education through research targeted at adults. The results indicated by the research can be summarized as follows. First, there was a significant difference found in the changes of financial behaviors in accordance with the types of financial education programs, the time period, and the methods of financial education. Second, financial behaviors were higher when participating in profit financial education programs or in workplace financial education programs. Additionally, the increase was higher when participating in long-term programs. Third, the positive effects on subjective economic well-being were financial behaviors, participation in profitable financial education programs, unmarried and income level.

• Human Ecology Research
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• v.61 no.3
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• pp.297-318
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• 2023

The purpose of this study was to develop a high school home economics financial consumer education program based on backward design and validation by experts. The program was designed and developed by first selecting learning content elements through a review of existing research and an analysis of relevant literature. The next step was to categorize these elements into seven themes and apply the backward design instructional design model 2.0. The program was prepared in the form of a 21st teaching-learning course plan and workbook and was verified by nine home economics teachers with working experience in high school. The evaluation revealed that the average value for all questions was 3.81 (out of 4 points) and the CVR was .99, indicating that the program was valid. In addition, positive evaluations were received in terms of learning goals, content level, and learner participation by class. This study has significance in that a systematic financial consumer education program was developed by Education of Home Economics to improve the financial literacy of high school students. It can therefore be used as an elective course (mini-course) in Home Economics in the high school credit system. A follow-up study will be required to assess the improvement in financial literacy after implementing this program.

• Knowledge Management Research
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• v.20 no.4
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• pp.99-118
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• 2019

Online financial counseling services are increasingly expanding with the rise of artificial intelligence-based chatbots. It is very important to examine the effects of emoticons noted as alternatives for communicating emotions in online communication between consumers and companies. In this paper, we examine how the use of emoticons affects the consumer's response and investigate the moderating roles of type of counseling agents (human vs. chatbot) and the consumer's subjective financial knowledge. The results show that the use of emoticon in the conversation brings a positive effect on the consumer's intention to use of online chat counseling service. When participants had relatively low subjective financial knowledge, they had higher intention to use online chat counseling services with emoticons only when the agent type was chatbot. When the type of counseling agent was human, this positive effect of the emoticon did not occur. On the other hand, when participants had relatively high subjective financial knowledge, they had higher intention to use online chat counseling service with emoticons only when the agent type was human. This study contributes to providing practical implications to build online chat counseling service using chatbot in the financial industry by studying users' intention depending on the type of agents and the level of their subjective knowledge.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.545-556
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• 2021

The financial technology sector is now growing rapidly all over the world, and it has improved the banking system efficiency and customer experience. This research study attempts explicitly to explore the consumer acceptance attitude of FinTech and its products in Pakistan. Technology Acceptance Model was used to assess the entire variable associated with the consumer attitude to adopt new technology. Based on a survey conducted from Pakistan data and by employing the multiple regression analysis, this study proves that the risk involved in FinTech products and services results in less usage of financial technology. The findings of the study also show that the risk should be reduced if banks and other institutes that are involved in financial transactions online must provide security. Moreover, customers are not willing to pay an extra amount for using financial technology. It argues that usefulness helps to change the attitude of banking customers to use financial technology. The attitudes of the customers have a positive relationship with the adoption of financial technology. These results also help guide financial institutions to enhance the adoption of FinTech products. User attitudes must be changed by providing users with more security, less risky applications, and cost-effective products.

• Journal of the Korean Home Economics Association
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• v.45 no.4
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• pp.17-28
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• 2007

The purpose of the study was to provide informations about the financial status of elderly households using financial ratios. The data was obtained from 2000 national households, consisting of 4,824 of elderly households. Descriptive tatistics were used to analyze the financial ratios and eleven different financial ratios. The results of this study were as follows. The financial status of elderly households need to be analyzed in detail according to age group, income level and asset level. In addition, some financial ratios already developed in previous studies may not applicable which necessitates the development of financial ratios specifically for application to elderly households for finanical counselors. The study results suggest the possibility of inequality among elderly households. The following studies need to focus on the limitation of these studies.

• International Journal of Human Ecology
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• v.5 no.1
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• pp.83-95
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• 2004

The purpose of the study was to examine the determinants of financial well-being of the baby boomers. With data on 1,789 households from the 1998 Survey of Consumer Finances, the study provided a profile of baby boomers using demands, resources, financial attitudes, and financial practices. The descriptive statistics showed that 18% of the baby boomers were financially well off showing that they met the guidelines for two financial ratios: liquidity and solvency ratio. The results of logistic analysis on the measures of financial well-being revealed that financial management practices played an important role in predicting boomer's financial well-being. This suggested a positive approach of financial education to the baby boomers to help them manage their current finance well as well as prepare for their retirement.

• Journal of Convergence for Information Technology
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• v.8 no.2
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• pp.157-162
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• 2018

The purpose of this study is to evaluate the level of trust by financial consumers and attempt to investigate the determinants that influence consumer trust in internet-only banks. For this aim, I conducted an empirical study and the survey results was used to test a structural equation model that analyzed the financial consumer trust and estimated the level of trust for internet-only banks. As a result of the analysis, the three most effective determinants of trust were security, convenience and benefit. Also, the level of financial consumer trust for the internet-only banks, based on the three factors, was later extended to relationship commitment such as renewal and recommendation intentions. Therefore, Internet-only banks need to focus on promoting their trust more effectively for future sustainable growth.

• International Journal of Human Ecology
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• v.13 no.1
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• pp.159-169
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• 2012

This study examined how financial education, impulsive buying, and socio-demographic factors affect saving behavior of 500 Korean college students. The descriptive results show that students who received financial education reported more positive saving behavior compared to students who did not receive financial education in school. The OLS results indicate that all else being equal, students with financial education reported more positive saving behavior than those without financial education. As predictors of saving behavior among Korean college students, the OLS results also reveal that impulsive buying, gender, and age were statistically significant. This study concludes that receiving financial education early, such as in elementary school, plays an important role in determining the saving behavior of Korean college students.