Relationships Among Credit Counseling Clients' Financial Wellbeing, Financial Behaviors, Financial Stressor Events, and Health

13 Pages Posted: 16 May 2013

See all articles by Jinhee Kim

Jinhee Kim

University of Maryland - Department of Family Science

E. Thomas Garman

Virginia Tech

Benoit Sorhaindo

InCharge Education Foundation

Abstract

The present study examined the relationships among credit counseling, financial behaviors, financial stressor events, perceived financial well-being, and health. Data were collected from clients of a large credit counseling organization on two occasions, once in June 2000 and again in January 2002. Path analysis was employed to assess relationships among the variables. Credit counseling and debt management program directly affect financial stressor events in a helpful way and indirectly affect perceived financial well-being and health of the participants after 18 months. Results provide some evidence of the effectiveness of credit counseling in improving financial and health variables.

Keywords: Credit counseling, financial well-being, stress

Suggested Citation

Kim, Jinhee and Garman, E. Thomas and Sorhaindo, Benoit, Relationships Among Credit Counseling Clients' Financial Wellbeing, Financial Behaviors, Financial Stressor Events, and Health. Journal of Financial Counseling and Planning, Vol. 14, No. 2, 2003, Available at SSRN: https://ssrn.com/abstract=2265623

Jinhee Kim (Contact Author)

University of Maryland - Department of Family Science ( email )

College Park
College Park, MD 20742
United States

E. Thomas Garman

Virginia Tech ( email )

250 Drillfield Drive
Blacksburg, VA 24061
United States

Benoit Sorhaindo

InCharge Education Foundation ( email )

2101 Park Center Drive
Suite 310
Orlando, FL 32835
United States

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