Hira, Tahira, K

Determinants
of Satisfaction with Preparation for Financial Emergencies

Tahira K. Hira¹, Alyce M. Fanslow²
and Renate Vogelsang³

Objectives were to examine the relationship between insurance knowledge
and insurance coverage and to determine the predictors of satisfaction
with preparations for financial emergencies. The systems approach to managerial
behaviors developed by Deacon and Firebaugh (1988) was used as the theoretical
framework for the study. Personal interviews with 123 household money managers
were conducted in central Iowa in fall 1986. Male and highly-educated money
managers. High-income households and households in which the money manager
had more insurance knowledge than female and less-educated money managers.
High-income households and households in which the money manager was knowledgeable
about insurance issues tended to have broad insurance coverage. The household
money managers were more likely to be satisfied with their households’
preparations for financial emergencies if they were retired or disabled
and if their households had a high net worth and broad insurance and broad
insurance coverage. Results may be used by financial counselors and educators
to help money managers prepare to meet various financial emergencies.

2.
Alyce M. Fanslow,

3.
Renate Voelsang,