Godwin, D

Godwin, D. D. & Koonce, J. C. (1992). Cash flow
management of low-income newlyweds. Financial Counseling and Planning,

Flow Management of Low-Income Newlyweds

D. Godwin1 and Joan C. Koonce2

Are low-income newlywed couples different from
their middle- and upper-income counterparts in terms of the way the feel
about cash flow management and the patterns of their cash flow management
behavior? That question was the focus of this study, which utilized data
from 106 newlywed couples. Using MANCOVA analyses that controlled for differences
in the couples’ ages and education, it was found that low-income couples
differed from moderate-income couples on three dimensions–projecting a
budget, attitudes toward planning and success, and feelings about the role
of skills in success. Low-income couples differed from their high-income
counterparts on seven dimensions¬órecord keeping, monitoring their income
and spending projecting a budget, balancing their budget, attitudes about
planning for success, feelings about the need for planning, and attitudes
about the role of skills in success. In each case, low-income couples reported
more “effective” attitudes and behavior that dispel the stereotypes about
low-income individuals.

Key Words: Cash flow management, Low-income newlyweds

1. Deborah D. Godwin, Department of Housing and
Consumer Economics, University of Georgia, Athens, GA 30602. Phone: (706)
542-4870 Fax: (706) 542-4862. E-mail: dgodwin@hestia.fcs.uga.edu.

2. Joan C. Koonce, Department of Housing and Consumer
Economics, University of Georgia, Dawson Hall,

Athens, Georgia 30602-3622 Phone: (706) 542-4865.
Fax:(706)542-4397. E-mail: jkoonce@fcs.uga.edu