Fitzsimmons 1993

Fitzsimmons, V. S. & Wakita, S. (1993). Expectation
of future financial condition: Are men and women different? Financial
Counseling and Planning,
4, 165-180.

Expectation of Future
Financial Condition Are Men and Women Different?

Vicki Schramm Fitzsimmons1
and Satomi Wakita2

Expectation of future financial condition can be a powerful motivator
of an individual’s financial management. This study found no difference
in male and female financial managers’ expectation of future financial
condition. There were some differences in the determinants of expectation.
For both sexes, positive relationships were found between expectation of
financial condition in 5 years and (a) general locus of control, (b) financial
locus of control, and (c) perception of present financial condition compared
to 5 years ago. Age was inversely related.  For females, education
and satisfaction with level of consumption also were related positively.

Key Words: Future financial expectation, Gender differences

Affiliations at the time of publication:

1. Vicki Schramm Fitzsimmons, University of Illinois at Urbana-Champaign,
274 Bevier Hall, 905 S. Goodwin Ave., Urbana, IL 61801. Phone: (217) 333-2958
Fax: (217) 244-1873. E-mail:

2. Satomi Wakita, Ph.D. student, Division of Consumer
Sciences, University of Illinois at Urbana-Champaign.

Acknowledgment:  Preparation of this report was
supported in part by the Illinois Agricultural Experiment Station. 
Data were collected in conjunction with the cooperative regional research
project NC-182, Family Resource Utilization as a Factor in Determining
Economic Well-Being of Rural Families.  Cooperating states are: 
Arizona, California, Illinois, Indiana, Iowa, Kansas, Michigan, and Minnesota. 
Special thanks to Lauren J. Leach who assisted with the statistical analysis.