• Journal of Families and Better Life
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• v.26 no.6
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• pp.143-158
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• 2008

The purpose of the study was to investigate the wife and husband role division in household financial management between dual-income household and single-income household. Household financial management included the following five categories: financial planning, consumption/expenditure management, savings/investment management, risk management and credit management. Data for this research was collected through 610 married women living in Seoul, Korea. Using SAS-PC program, Chi-square and t-test Analyses were executed. The results showed that dual- and single-income households tend to have different perspectives on marital role division in household management. Wives of dual-income households had more significant roles in financial management rather than wives of single income households. Especially, wives of dual-income managed more active credit management and saving/investment management. On the other hand, wives of single-income households played a major role in making decision over cheap items than that of wives of dual-income household.

• Journal of Family Resource Management and Policy Review
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• v.1 no.2
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• pp.45-58
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• 1997

The purpose of this study was to test a causal model of employed and unemployed wives on the basis of the family resource management system theory. The data of this study were obtained from 244 wives who lived in Seoul and were financial mangers. Major findings of this study were as follows: 1. Both employed and unemployed wives, knowledge of financial management was significantly predictor of financial planning. That is, household financial mangers with more financial knowlege used more effective planning behaviors than did those financial managers with less financial konwlege. This results emphasize the significance of enhancing the financial konwledge in the household financial management. 2. For unemployed wives, expectation of household’s future financial condition was influenced by age, household income, locus of control over their financial situation, and perception of financial management’s effectiveness. The strongest predictor of expectation of the household’s future financial situation was age. Younger managers were more optimistic about the future. 3. The findings of this study support theoretical framework on the basis of the family resource management system theory, both for employed and unemployed wives.

• Journal of Families and Better Life
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• v.28 no.5
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• pp.113-129
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• 2010

This study explored the level and general propensity of the economic distress and the financial management behavior of household financial managers and analyzes the effects of economic distress and the sub dimensions to financial management behaviors. The research results can be summarized as follows. 1. The overall level of economic distress of household financial managers was middle-levels and the financial management behavior were slightly higher than mid-point. 2. Regarding the household variables on the economic distress of household financial managers, education levels and occupations of husbands, monthly income, financial knowledge were the variables that had a significant negative effect on the economic distress. That is, higher education levels of husbands, husbands with management-level/professional-level career, higher monthly income, and higher level of financial knowledge generated lower economic distress. 3. Regarding the household variables and the economic distress on the financial management behavior, monthly income, and financial knowledge were the variables that had a significant positive effect on the financial management behavior. On the contrary, income-asset distress was negative variable. Thus, higher monthly income, higher level of financial knowledge, and lower level of economic distress generated higher financial management behavior. Statistically significant differences were detected in financial management behavior sub dimensions. From this research, it could be concluded that the main variables affecting the level of financial management behaviors are income-asset distresses and financial knowledge.

• The Korean Journal of Community Living Science
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• v.14 no.2
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• pp.15-27
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• 2003

This study investigates the reports about financial management and financial information needs in farm household, to development financial education program for farm household. The results were as follows: 1) Financial management was carried of husband (49%), husband and wife (31.0%) and wife (15.2%) 2) Farm households demand of financial information was selling for farm products(66.5%), farm management(65.1), keeping budget(52.6%) and consumer information(42.6%). 3) The variables (sex, age, Education, farming type) have statistically significant on test of financial knowledge. 4) On the basis of results, for the stabilization of rural economy it is necessary to maximize and stabilize the rural house hold income however, it is also necessary to educate the rural people by providing the ways and means to efficiently manage the income. Thus various financial management programs and educational resources should be developed and provided to the agriculture household finance managers and the instructors in Agricultural Technology Development Center. Specially, according to the financial knowledge test as the demand of financial information in the group of respondents who answered ‘don’t know’ is higher than the demand in the group of right or wrong answers it is quite urgent to develop and provide the financial education programs and financial resources for these people.

• Korean Journal of Human Ecology
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• v.2 no.1
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• pp.12-24
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• 1999

This study attempts to explore the effects of personal, household, and environmental factors on household financial management in financial dimensions. Financial management behaviors are constructed with 5 dimensions : income, expenditure, debt, investment and risk management. The specific objectives of this study are : 1) to examine the level of the financial management behavior to the sub-dimensions. 2) to investigate the factors which influence on the level of financial management behavior to the dimensions. The sample consisted of 792 married women living in Seoul. The statistical methods used for analysis included Reliability, Frequencies, Percent, Mean, Standard Deviation, Multiple Regression Analysis. The major results can be summarized as following 1) Among the sub-dimensions, the score of risk management is the most high, 39.00. 2) There are statistically significant differences in the levels and factors which influence on the financial management behavior to the 5 dimensions.(Korean J of Human Ecology 2(l) : 12-24, 1999)

• Journal of Families and Better Life
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• v.27 no.1
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• pp.1-16
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• 2009

Using the 2007 Fund Investors Survey, we investigated (1) the differences in economic status in terms of household income, consumption, saving, assets and debts, (2) the differences in financial management behavior, (3) and the differences in confidence in economic status after retirement between households conducting and not-conducting financial preparation for retirement. The major study findings were as follows. First, only 46.4% of the households were financially preparing for retirement. The levels of income, consumption, and saving were higher among households conducting financial preparation for retirement than among those not-conducting such financial preparation. Second, households conducting financial preparation for retirement had a relatively high propensity to save. Their financial asset portfolio had a higher weight in safety assets and investment assets than in retirement assets. Due to their lack of confidence in their economic status after retirement, their demand for financial preparation for retirement remained. Third, the households which did not conduct financial preparation for retirement tended to have a relatively heavy debt burden and not to implement general household financial management practices. Fourth, among the three-pillar retirement income system, the second pillar, of individual retirement account was not well established. Based on these results, various implications were suggested.

• Korean Journal of Human Ecology
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• v.6 no.1
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• pp.29-39
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• 1997

This study was to explore the effects of the preferences to housewives' employment and the type of household financial management leadership on the financial communication and equality of financial power perceived by working wives. From results of this study, the followings were concluded: 1. Housewives' income power leaded to the increase of their financial decision-making leadership and the more active participation to the financial matters. 2. The influences of husbands' leadership on the household finance were greater than one of wives' leadership. Depending on who has the financial management leadership, there were the differences on degree of the understanding and the discretion. 3. Although joint management style was popular today. the major management leadership was belonged to husbands based on the traditional value of sex role in the household financial management area.

• Journal of Families and Better Life
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• v.20 no.2
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• pp.21-28
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• 2002

The purpose of this study was to investigate how the financial satisfaction of housewives was related with the financial condition of households and the performance evaluation of household financial management behavior. In order to examine this relationship, internet questionnaire survey was conducted with 598 housewives. Results showed that household income and monthly debt repayment had only indirect effects on the financial satisfaction while monthly saving had both of the direct and indirect effects. It indicates that financial satisfaction level varies with the perceived performance of financial management behavior even though they have the same level of financial resources. Specifically, the division of financial roles and problem solving style between husband and wife affected the financial satisfaction of housewives.

• Journal of Family Resource Management and Policy Review
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• v.22 no.1
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• pp.63-78
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• 2018

This study examined the insolvency of debtors using multiple-indicator approaches and compared the outcomes across income levels with the 2016 'Household Financial and Welfare Survey'. This study used (1) the total debt to total assets ratio (DTA), (2) the total debt service ratio (DSR), and (3) the Household Default Risk Index (HDRI) recently developed by the Bank of Korea. Households in the lowest income quintile were more likely to be insolvent than any other income group. Demographics, such as age and gender of the household head, and most of the financial variables significantly increased the likelihood of insolvency based on the DTA. The number of household members and job status increased the likelihood of insolvency based on the DSR. Also, age, gender of the household head, and most of the financial variables increased the likelihood of household insolvency based on the HDRI after controlling for other demographics and financial variables.

• Journal of Families and Better Life
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• v.22 no.2
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• pp.85-95
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• 2004

The purpose of this study was to classify the household financial strategies and find out variables affecting the type of the household financial strategies. The data of 3994 households from Korean Labor and Income Panel Study(1999-2000) were used. The major findings were as follows: (1) the household financial strategies were Residual Saver Type(44.6%), Unformal Institute Saver Type(13.3%), Financial asset Saver Type(16.7%), Real estate Saver Type(13.4%) and Diversities(12.0%). (2) The household financial strategy types were changed rapidly during short term. (3) In 3994 households, the variables which influence on the change of the household financial strategies were education, job, numbers of children, place of residence, home ownership. Similarly, in each type, the change of household financial strategies was significantly different according to the household characteristics variables.