Kim, Garman & Sorhaindo, 2003(2) Stressors & Health

Financial
Counseling and Planning

The Journal of the
Association for Financial
Counseling and
Planning Education

Volume 14(2), 2003

Relationships
Among Credit Counseling Clients’ Financial Well-being, Financial
Behaviors,
Financial Stressor Events, and Health

Jinhee
Kim [1],
E.
Thomas Garman [2],
and Benoit Sorhaindo [3]

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




[1]Jinhee Kim, Contacting author: Dept. of Family
Studies,
1204 Marie Mount hall, College Park MD, 20742-7515, phone 301-405-3500,
email: jinkim@umd.edu, fax
301-314-9161.

[2]E. Thomas
Garman, Professor Emeritus, Virginia Tech University; 8044 Rural
Retreat Court,
Orlando, FL 32819; Phone 407-63-9048; email tgarman@bellsouth.net, Web:
EthomasGarman.net.

[3]Benoit
Sorhaindo, Senior Researcher, InCharge Education Foundation, 1767 Park
Center
Drive, Orlando, FL 32835; email bsorhain@incharge.org; Phone:
407-532-5704,
Web: www.InCharge.org