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Factors Associated with Financial Ratios and Financial Well-Being of Hispanic Households: A Comparison with White Households

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Bibliographic Details
Title: Factors Associated with Financial Ratios and Financial Well-Being of Hispanic Households: A Comparison with White Households
Language: English
Authors: Rubio, Alicia, Rubio, Alberto, Moreno, Jose F.
Source: Journal of Financial Counseling and Planning. 2022 33(1):126-139.
Availability: Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: https://connect.springerpub.com/content/sgrjfcp
Peer Reviewed: Y
Page Count: 14
Publication Date: 2022
Document Type: Journal Articles
Reports - Research
Descriptors: Hispanic Americans, Whites, Heads of Households, Well Being, Money Management, Age Differences, Racial Factors, Educational Attainment, Debt (Financial), Investment
ISSN: 1052-3073
1947-7910
Abstract: Using data from the 2016 Survey of Consumer Finances (SCF) and the Family Life Cycle (FLC) and Human Capital Theory (HCT) as a framework, this study examined if factors related to the likelihood of financial ratio adequacy and financial well-being differ for Hispanic and non-Hispanic White households. Hispanics' comprehensive financial well-being was assessed with three ratios: Liquidity, solvency, and investments/assets. Results of logistic regressions with 612 Hispanic and 4,481 non-Hispanic headed households show that FLC and HCT factors are associated with financial ratios differently between two race/ethnicity groups. For Hispanic households, age is positively related to adequate investment/assets ratio and financial well-being; education is positively related to adequate investment/assets but negatively related to adequate solvency. Implications for practitioners working with Hispanics are discussed.
Abstractor: As Provided
Entry Date: 2022
Accession Number: EJ1346400
Database: ERIC
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Description
Abstract:Using data from the 2016 Survey of Consumer Finances (SCF) and the Family Life Cycle (FLC) and Human Capital Theory (HCT) as a framework, this study examined if factors related to the likelihood of financial ratio adequacy and financial well-being differ for Hispanic and non-Hispanic White households. Hispanics' comprehensive financial well-being was assessed with three ratios: Liquidity, solvency, and investments/assets. Results of logistic regressions with 612 Hispanic and 4,481 non-Hispanic headed households show that FLC and HCT factors are associated with financial ratios differently between two race/ethnicity groups. For Hispanic households, age is positively related to adequate investment/assets ratio and financial well-being; education is positively related to adequate investment/assets but negatively related to adequate solvency. Implications for practitioners working with Hispanics are discussed.
ISSN:1052-3073
1947-7910