Salon Presentations

Funders have a unique vantage point to observe distinctive relationships among the variety of research projects in progress at any given time. NEFE’s Grants & Research department noticed that behavioral models being developed by grantees led by Shim, Vitt, and Gutter explained the overwhelming effect social and psychological factors have in financial decisions — often to the exclusion of rational, objective decision making. Preliminary findings from a fourth project led by Way offered data remarkably consistent with Gutter’s and Shim’s findings about young adult financial literacy and behaviors.

NEFE decided the similar characteristics in these active research projects were too important to ignore. The Grants and Research team asked each of the principals if they would be interested in sharing and learning about one another’s work. Below are the reports from the principals.

Wendy Way

Funders have a unique vantage point to observe distinctive relationships among the variety of research projects in progress at any given time. NEFE’s Grants & Research department noticed that behavioral models being developed by grantees led by Shim, Vitt, and Gutter explained the overwhelming effect social and psychological factors have in financial decisions — often to the exclusion of rational, objective decision making. Preliminary findings from a fourth project led by Way offered data remarkably consistent with Gutter’s and Shim’s findings about young adult financial literacy and behaviors.

Way Milestone

Way Presentation

Soyeon Shim

Shim also utilized a survey to gather data for her project. More than 2,350 usable responses were received to online and hard-copy questionnaires. At the time of the Salon, Shim’s team was analyzing the responses from 2,172 first year students. In addition to Shim and Staten, the team includes: Jiao Xing, Ph.D., and Bonnie Barber, Ph.D., Co-PIs; Joyce Serido, Ph.D., project manager; Noel Card, Ph.D.; and Chuanyi Tang and Anubha Mishra, graduate research assistants.

Soyeon Shim Presentation

Michael Gutter

Gutter’s survey — at the time of the Salon — received more than 6,500 college students responses and he was projecting the nationwide study would draw more than 8,000 additional responses before the data collection period ended. Way also participates on Gutter’s research team.

Michael Gutter Milestone Report

Michael Gutter Poster  #1 

Michael Gutter Poster  #2

Lois Vitt

While research by Shim, Gutter, and Way collected respondent data related to financial literacy, capability, and preparedness for managing money or teaching personal finance, Vitt’s work provides compelling evidence that effective financial education cannot stop with objective financial knowledge — learners also must gain insights into why they make decisions that often are counter to rational analysis of financial factors.

Lois Vitt Milestone Report

Lois Vitt Social Influences Model

Lois Vitt Life Values Model

Lois Vitt Financial Educators’ Guide Book

Contacts