The impact of wife\u27s employment on the acquisition of home ownership and the accumulation of home equity

The data for this study come from a longitudinal survey, the Panel Study of Income Dynamics. The subsample used in this study includes husband-wife families that remained intact and had the same household head from 1979 to 1983. Four models are tested. If the wife\u27s average hourly earnings are high, there is a high probability that the family will own a house, have high home equity levels, and have a large increase in home equity levels between 1979 and 1983. The family\u27s stage of the life cycle is a strong indicator of whether a family changes from nonowner to owner status;Whites have higher equity levels than nonwhites. The Western region of the country has higher levels of equity and the North Central region has lower levels of equity than the Northeastern region. There is a significant difference in equity levels and in the change in equity between cities of 500,000 or more compared to those with populations of less than 500,000. As families acquire more income, they invest more of it into their home. When the wife is relatively old and has a high level of education, the probability is high that the family will have high levels of home equity

Money Management Knowledge of College Students

This study describes the money management knowledge of college students and identifies the characteristics of students associated with the differences in that knowledge level

Financial Influences Impacting Young Adults’ Relationship Satisfaction: Personal Management Quality, Perceived Partner Behavior, and Perceived Financial Mutuality

In this study, we investigated the extent to which young adults’ (n=274) personal financial management quality and perceived partners’ financial behavior were associated – both directly and indirectly via perceived financial mutuality – with relationship satisfaction in committed relationships. The study was grounded in Social Exchange Theory (SET). A path analysis revealed that perceived partner’s financial behavior had a direct association with perceived financial mutuality, which, in turn, had a direct association with relationship satisfaction. In contrast, the participant’s financial management quality and relationship satisfaction were not directly associated nor was they indirectly associated through perceived financial mutuality. Perceived financial mutuality had the largest effect on relationship satisfaction. These findings indicate that perceived financial mutuality plays a key role both directly and as a mediator on relationship satisfaction for these young adults. The implications of the findings provide insights for designing preventive financial strategies early in romantic relationships

Building social support in rural communities

This flyer series was created by Extension's Children, Youth & Family Consortium (CYFC) and Rural Stress Task Force to assist rural families and communities experiencing stress. This archival publication may not reflect current scientific knowledge or recommendations. Current information available from the University of Minnesota Extension: https://www.extension.umn.edu

Separating Your Finances - Divorce Matters

Divorce means more than physically separating a family. It also means separating a family financially

ROLE DEMANDS, DIFFICULTY IN MANAGING WORK-FAMILY CONFLICT, AND MINORITY ENTREPRENEURS

By exploring difficulty in managing work-family conflict for minority entrepreneurs, this study considers work-family issues for business persons who have received little attention in the literature, yet form new businesses at rates exceeding the national average. We employ a role theory perspective to examine two major research questions using a nationally representative sample of African-American, Mexican-American, Korean-American, and White business owners. Specifically, we ask: do minority business owners experience greater difficulty in managing conflicts between work and family roles when compared to White entrepreneurs? And does difficulty in managing work-family conflict negatively impact business performance? Empirical results show that Korean-American and Mexican-American entrepreneurs have greater role demands, and subsequently, higher levels of difficulty in managing work-family conflict than African-Americans and Whites. Furthermore, difficulty in managing work-family conflict negatively impacts business performance whether performance is measured through the perception of the business owner, or through more objective financial measures. We contribute to the literature on minority entrepreneurs as well as expand the work-family conflict literature by shifting the focus from employed individuals to entrepreneurs, and by emphasizing the effect of such conflict on performance rather than well-being.Work-family conflict, minority entrepreneurs, role theory

Finding their way home: The reunification of First Nations adoptees

Entire generations of First Nations people have been separated from their birth families and tribes by historical acts of relocation, boarding schools, and the adoption era. Reunification is an essential component to rebuilding the First Nations population. It is echoed across tribes captured by the phrase, “generation after generation we are coming home” (White Hawk, 2014). The purpose of this study was to investigate personal and social identity indicators that contribute to a satisfactory reunification for 95 First Nations adult adoptees who were separated from their birth families during childhood by foster-care and/or adoption. Retrospective survey data originated from the Experiences of Adopted and Fostered Individuals Project. The overall model of satisfactory reunification was statistically significant, and explained 16.6% of the total variance. The study’s findings revealed two social identity variables were statistically significant in relation to the reunification experience – high social connection to tribe (positive relationship) and reunification with the birthmother (negative relationship). First Nations adoptees have not only a biological/birth family to return to, but also a tribe, and ancestral land. Components of social identity are particularly important for the reunification process of First Nations adoptees. Reconnection with extended family and social connection to tribe play a critical role in bettering the reunification experience from the adoptee’s perspective.

Managing income and expenses - Divorce Matters

Divorce creates many kinds of stress for all those involved. Potential exists for serious financial stress. Even when resources are adequate, and especially when they are limited, careful planning can enable individuals to make the best of their financial situation and avoid costly errors as they more forward after divorce