NC2172: Behavioral economics and financial decision-making and information management across the lifespan

(Multistate Research Project)

Status: Active

SAES-422 Reports

Annual/Termination Reports:

[09/22/2014] [07/14/2015] [08/23/2016]

Date of Annual Report: 09/22/2014

Report Information

Annual Meeting Dates: 05/20/2014 - 05/22/2014
Period the Report Covers: 10/01/2013 - 09/01/2014


Brief Summary of Minutes



Impact Statements

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Date of Annual Report: 07/14/2015

Report Information

Annual Meeting Dates: 05/19/2015 - 05/20/2015
Period the Report Covers: 05/01/2014 - 05/01/2015


Cho, Soo Hyun ( – South Dakota State University;
DeVaney, Sharon ( – Purdue University;
Gutter, Michael ( – University of Florida;
Johnson, Carrie ( - South Dakota State University;
Kim, Jinhee ( – University of Maryland;
Mauldin, Teresa ( – University of Georgia;
Worthy, Sheri ( – University of Georgia;
O’Neil, Barbara ( – Rutgers University;
Xu, Yilan ( – University of Illinois;

Brief Summary of Minutes

NC2172 Annual Meeting. Clearwater FL, May 19-20, 2015

1. The meeting was called to order by Soo Hyun Cho, Chair.

2. Minutes from the April 17 and May 9 were approved—moved by Barbara O’Neill and seconded by Yilan Xu. All were in favor.

3. Advisor Dr. J. Ernest Minton joined by conference call. Told the group that he has to provide a mid-term review 2016. He thought the impact statement is important.

4. Project progress since August 2014 was reviewed. See list of accomplishments below.

5. Officers rotation for the new cycle starting after the May 2015 annual meeting.

Officers 2014-2016 2016-2018 Upcoming Elections
Chair Soo Hyun Cho Michael Gutter 2017, 2019, 2021
Vice-chair Michael Gutter Yilan Xu 2017, 2019, 2021
Secretary/Treasurer Elizabeth Kiss elect at 2016 Annual Meeting 2016, 2018, 2020

6. The group participated in a Webinar “It’s not like I’m POOR”

7. The remainder of the meeting was devoted to sub-group discussion on Experimental Study. five subgroups were created based on the topic, all of which would analyze the experimental data collected in 2014-2015. They are Main, Methodology, Gender, Race, and Cohort. Group reports can be found in Dropbox shared folder.

8. Next phase to examine housing issue was discussed. The group decided that we need to study current knowledge on this issue in order to further identify the research questions. Some members of the team would work on the housing decision making among young adults.

7. NC 2172 Policy Handbook was reviewed and revised.

8. Annual meeting for 2016 will be held in conjunction with the ACCI Conference in Washington, D.C. Tentative Dates: June 7-8, 2015

9. Monthly conference calls for the upcoming year will be 2-3pm ET second Friday of every month.



1. The following webinar was held by a member on Student Loan topic through eXtension. XX number of participants were reached and educated on the topic.
Forbes Cameron, C. & O'Neill, B. (2015, April 20). Paying for College -- Learn about the Federal Student Aid Toolkit and Other Student Loan Resources. webinar

2. The following invited presentation was given at the 2015 annual conference of the American Council on Consumer Interests. Colleagues in the field were given updates about our project and new members were recruited.
Gutter, M. S., Kim, J., & O'Neill, B. (2015). NC2172 Update: Behavioral Economics and Financial Decision-Making and Information Management Across the Lifespan. Presentation at the ACCI Annual Conference 2015, Clearwater Beach, FL, May 20.

Milestones: The group collected to sets of data on student loan. One is a quantitative data, and another is a qualitative data.
The NC 2172 Policy Handbook was finalized.


Cho, S. H., Xu, Y., and Kiss, D. E. (2015). Understanding Student Loan Decisions: A Literature Review. Family and Consumer Sciences Research Journal, 43(3), 229-243. doi: 10.1111/fcsr.12099

DeVaney, S. A. (2014). Book review: Retirement planning, 9th edition. Family & Consumer Sciences Research Journal, 43(1), 102-103.

DeVaney, S. A. (2015). 401(k) Accounts. Encyclopedia of Economics and Society. Thousand Oaks, CA: Sage (in press).

DeVaney, S. A. (2015). Roth Individual Retirement Accounts. Encyclopedia of Economics and Society. Thousand Oaks, CA: Sage (in press).

Fisher, P. J., Hayhoe, C. R., & Lown, J. M. (2015). Gender differences in saving behaviors among low- to moderate-income households, Financial Services Review, 24(1), 1-13.

Griesdorn, T. S., Lown, J. M., DeVaney, S. A., Cho, S. H. & Evans, D. A. (2014). Association between life-cycle constructs and financial risk tolerance of low-to-moderate-income households. Journal of Financial Counseling and Planning, 25(1), 27-40.

Johnson, C.L. (2015). Understanding federal loan repayment. Family and Consumer Sciences Research Journal, 43(4), 306-312. 10.1111/fcsr.12108.

Mauldin, T., & Henager-Greene, R. (2015). Does the Perceived Burden of Student Loan Debt Affect Saving Behaviors? Poster presentation at the ACCI Annual Conference 2015, Clearwater Beach, FL, May 21.

Yang, T. Y. & DeVaney, S. A. (2014). Determinants of the retirement assets of older couples (in the U.S.) Proceedings of the Asian Consumer & Family Economics Association, Taiwan, July.

Impact Statements

  1. None to report yet, impacts are still emerging for this 5-year cycle.
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Date of Annual Report: 08/23/2016

Report Information

Annual Meeting Dates: 06/07/2016 - 06/08/2016
Period the Report Covers: 09/01/2015 - 07/01/2016


Bartholomae, Suzanne ( – Iowa State University
Bowen, Cathy ( – The Pennsylvania State University
Cho, Soo Hyun ( – South Dakota State University
DeVaney, Sharon ( – Purdue University
Evans, David ( - Purdue University
Gutter, Michael ( – University of Florida
Johnson, Carrie ( - South Dakota State University
Kim, Jinhee ( – University of Maryland
Kiss, Elizabeth ( - Kansas State University
Mauldin, Teresa ( – University of Georgia
Minton, Ernie ( – Kansas State University (Administrative Advisor)
Travis Mountain ( – Virginia Tech
O’Neill, Barbara ( – Rutgers University
Porto, Nilton ( – University of Rhode Island
Worthy, Sheri ( – University of Georgia
Xu, Yilan ( – University of Illinois

Delgadillo, Lucy ( – Utah State University
Griesdorn, Timothy ( – University of Incarnate Word
Guillemette, Michael ( – University of Missouri
Krishnan, Palaniappa ( – University of Delaware
Linville, Ina – Missouri Cooperative Extension
Lown, Jean ( – Utah State University
Welsh, Melissa ( – Maryland Cooperative Extension

Brief Summary of Minutes

Please see attached file for NC2172's full 2016 annual report.



Impact Statements

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