Two year sustainability of the effect of a financial education program on the health and wellbeing of single, low-income women

Nicole D. White; Kathleen A. Packard; Kathleen A. Flecky; Julie C. Kalkowski; Jennifer A. Furze; Ann M. Ryan-Haddad; Lisa L. Black; Lorraine M. Rusch; Yongyue Qi

doi:10.1891/1052-3073.29.1.68

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Two year sustainability of the effect of a financial education program on the health and wellbeing of single, low-income women

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Two year sustainability of the effect of a financial education program on the health and wellbeing of single, low-income women

Nicole D. White, Kathleen A. Packard, Kathleen A. Flecky, Julie C. Kalkowski, Jennifer A. Furze, Ann M. Ryan-Haddad, Lisa L. Black, Lorraine M. Rusch and Yongyue Qi

Journal of Financial Counseling and Planning, Vol.29(1), pp.68-74

2018

DOI: https://doi.org/10.1891/1052-3073.29.1.68

Abstract

Finance

Economics and Econometrics

Financial stress is implicated in poor health and decreased Quality of Life (QOL). The purpose of this project was to assess the 2-year effect of a financial education program on the health of single, low-income women. A total of 30 women were enrolled and 20 continued through follow-up. Two years following intervention, women demonstrated a $8,026 increase in mean annual income and significant improvements in health-related QOL anhopefulness. Half of the participants lost weight, and while not statistically significant, mean weight decreased by 2.2 pounds. Trends in decreased fast food consumption were observed. The results suggest that financial education has a significant, sustained effect on the health and health-related QOL of single, women of low income.

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Title: Two year sustainability of the effect of a financial education program on the health and wellbeing of single, low-income women
Creators: Nicole D. White (Author) - Department of Pharmacy Practice
Kathleen A. Packard (Author) - Department of Pharmacy Practice
Kathleen A. Flecky (Author) - Creighton University
Julie C. Kalkowski (Author) - Creighton University
Jennifer A. Furze (Author) - Department of Physical Therapy
Ann M. Ryan-Haddad (Author) - Creighton University
Lisa L. Black (Author) - Department of Physical Therapy
Lorraine M. Rusch (Author) - Creighton University
Yongyue Qi (Author) - Creighton University
Publication Details: Journal of Financial Counseling and Planning, Vol.29(1), pp.68-74
Series: 29
Number of pages: 7
Grant note: Individual health can be achieved through investment at the community level, particularly in areas with great need. The Omaha, Nebraska metropolitan area, specifically, women of low income (households with incomes of up to 300% of the federal poverty level) residing in the area, is one such example. Compared to a matched cohort of women from the state of Nebraska, women of low-income residing in the Omaha metropolitan area are almost twice as likely to have hypertension (50% vs. 25.3%), metabolic syndrome (58.3% vs. 32.6%), report smoking (33.3% vs. 16.2%), and display obesity (66% vs. 25.5%) (Gillespie et al., 2012). This population is also more likely to be sedentary and have diabetes than matched state data (Gillespie et al., 2012). The Financial Success Program (FSP) was developed and is currently directed by individuals affiliated with the Creighton University College of Business Administration. The goal of the program is to reduce financial stress and improve money management skills in this disparate population. The FSP was initially funded by a grant from the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation in 2010 to explore what financial education program components are most effective in creating behavior change for low income single mothers.
Identifiers: 991005928593002656
Academic Unit: Pharmacy Practice; Physical Therapy (Phoenix)
Language: English
Resource Type: Journal article

Two year sustainability of the effect of a financial education program on the health and wellbeing of single, low-income women

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