Open AccessAre Your Personal Financial Characteristics Healthy?
Author(s) -
Dan Yates,
Chris Ward
Publication year - 2012
Publication title -
journal of business and economics research
Language(s) - English
Resource type - Journals
eISSN - 2157-8893
pISSN - 1542-4448
DOI - 10.19030/jber.v10i4.6898
Subject(s) - finance , work (physics) , financial plan , business , action (physics) , survey instrument , accounting management , marketing , accounting , mechanical engineering , accounting information system , physics , quantum mechanics , engineering
This study set out to discover the key personal financial areas or personal financial characteristics that individuals should have a basic knowledge of as well as their ability to manage their personal finances. Once these areas were determined, a self-assessment survey was created. Upon completion of the survey, a total score can be determined to assess ones degree of personal financial healthiness. The study is important because the instrument can help identify problems areas that people have in managing their own personal finances. The self-assessment survey could be used by financial planners or financial counselors as they work with clients in becoming better stewards of their financial resources. The instrument also provides an action planning area to be used to identify areas for improvement.