The financial planning profession faces a critical challenge in preparing future practitioners to leverage artificial intelligence (AI) to expand access to financial guidance for underserved populations. This study applies Human-Automation Interaction theory to examine how trust, gender, and academic performance shape undergraduate financial planning students’ adoption of ChatGPT. A survey of 60 advanced financial planning students measured AI usage frequency, trust in ChatGPT, and reliance on AI advice. Results show significant positive correlations among trust, usage frequency, and reliance, which are consistent with HAI theory predictions. Female students reported significantly higher ChatGPT usage than their male peers, challenging prior evidence of women’s lower AI adoption rates. A negative relationship between GPA and AI advice reliance indicated that lower-performing students are more likely to depend on AI for financial guidance. These findings have critical implications for financial planning education and professional development, including the need for trust-building curricula, gender-responsive training, and guidance to ensure ethical AI use that supports client well-being. By documenting how future financial planners develop relationships with AI, this research highlights strategies for workforce development that can enhance consumer well-being and broaden access to quality financial advice through technology-enhanced practice.
This study examines the effectiveness of artificial intelligence (AI) tools, financial planners, and their combined use in promoting retirement saving behavior among 2,000 state and local government employees. The research introduces the Technology-Enabled Financial Help-Seeking (TEFHS) framework, extending traditional help-seeking theory to incorporate AI-based advice sources. Using logistic regression analysis, we find that all formal advice sources are associated with higher odds of retirement saving compared to using no advice. AI-only users demonstrate 75% higher odds of saving, financial planner-only users show 181% higher odds, and individuals using both sources exhibit 254% higher odds. These patterns support the TEFHS framework’s expectation that AI and human advisors work best when used together rather than in isolation, contributing distinct forms of capital to retirement planning decisions. Results indicate persistent demographic disparities, with women and Black participants showing lower saving rates despite advice access. The findings suggest that AI tools can expand access to retirement guidance for underserved populations while enhancing rather than replacing traditional advisory relationships. This research provides evidence-based insights for practitioners integrating technology into service delivery, policymakers considering AI-enabled employee benefits, and researchers studying technology adoption in financial services.
This study examines the role of Grit, a concept introduced by Angela Duckworth and defined as perseverance and passion for long-term goals, in predicting financial success during young adulthood. Relying on data from the National Longitudinal Survey of Youth 1997 (NLSY97), we investigate the relationship between individuals’ Grit scores and financial outcomes at age 30, including net worth, debt, assets, and income. Survey-weighted OLS regressions reveal that higher Grit is significantly associated with greater net worth and asset accumulation at 30, with a one-unit increase in Grit predicting an estimated $25,800 increase in net worth and $430 in additional assets. Grit was not a significant predictor of debt, though it was marginally related to higher income, suggesting that Grit contributes to positive financial behaviors such as saving, investing, and long-term planning, complementing traditional factors like education and financial literacy. While results highlight Grit’s potential as a psychological determinant of financial well-being, limitations include measurement concerns with the Short Grit Scale and reliance on self-reported data. The study builds on other non-cognitive, personality trait research in wealth-building and calls for further research to explore interventions that cultivate perseverance and persistence as pathways to financial stability.
Author(s): Loren Flood, Miles Sharpe, Stuart Heckman
As consumers rely more on social media for investment advice, it is important to consider how this new information platform is related to investor perception. This paper utilizes the 2021 NFCS dataset to explore the relationship between financial sentiment, as discussed in terms of optimism and pessimism, and social media use for investment advice. Furthermore, this study uses the lens of agency theory to explore these topics as they relate to investing in speculative assets. Initial findings show that social media use for investment advice has a positive relationship with consumers expressing more pessimistic financial sentiments. This finding, and others, are discussed in the context of a rapidly changing information landscape.
This study explores the financial well-being of college athletes, specifically examining the relationship between financial concerns, social support, and academic outcomes. Using survey data on financial well-being, perceived social support, and GPA, along with demographic factors, this research identifies financial challenges unique to college athletes and investigates how social support networks may buffer financial stress and impact academic success. The findings aim to highlight potential avenues for targeted support to enhance the well-being and academic performance of student-athletes.
Author(s): Isabella Martin, Sarah Burcher, Richard Stebbins, Erin Austin
This paper examines how financial vulnerability (FV) differs across age groups and between men and women using the 2021 Survey of Financial Competences, a nationally representative sample of 7,764 Spanish households. FV is measured along three dimensions—sensitivity, (low) resilience, and exposure. Results show an inverse U-shaped pattern in overall FV, with middle-aged households being the most vulnerable; (low) resilience displays the same inverted-U, sensitivity tends to rise with age, and exposure is most pronounced among younger households. Women exhibit higher FV than men, largely explained by greater sensitivity, while gender gaps in resilience and exposure are small in fully specified models and narrow with age. Generational comparisons indicate that exposure-related risks (e.g., renting, job insecurity) weigh more heavily on Millennials and Zennials, whereas sensitivity-related risks (e.g., income constraints and debt) are more salient among Baby Boomers. These findings support age- and gender-targeted, dimension-specific interventions to mitigate household financial vulnerability.
Author(s): Jorge Ruiz-Manjivar, Sara Fernández-López, Lucía Rey-Ares, Marcos Álvarez-Espiño
At various points in life, people might encounter unexpected negative experiences, which can be classified into three categories according to their severity and frequency: universal stressors, personal shocks, and daily hassles. While universal stressors and personal shocks have been actively studied, less attention has been paid to daily hassles (i.e., experiences of daily living such as losing keys or waiting in line) despite their omnipresence and cumulative impact. Blending the theory of stress and coping and self-determination theory, this study argues that daily life hassles influence well-being because they negatively affect the individual’s basic psychological need satisfaction. Using data from the 2025 Pregnancy Journey Survey, we examine the extent to which basic psychological need satisfaction mediates the association between the individual’s experience of daily hassles and their sense of well-being. Findings from our study can guide the design of services or programs to support recognition of and coping with daily hassles as nagging or invisible stressors that rob the individual of higher levels of well-being.
People with more supportive relationships in life tend to have higher levels of life satisfaction. The reason most often given is that relationship quality offers stability and a sense of being supported or loved. Another stream of research, grounded in Self-Determination Theory, suggests that people who pursue goals that are personally meaningful tend to have greater goal success and resulting life satisfaction. From this perspective, the type of motivation an individual has for goal pursuit can influence how persistent and successful they are in achieving the goals . From these two streams of research, it appears that supportive relationships and the pursuit of goals for authentic reasons both matter for life satisfaction. However, research has rarely studied the role of goal motivation as an explanation for the association between the quality of an individual’s relationships and their well-being. Through the lens of Self-Determination Theory, this study explores whether autonomous motivation for goal pursuit mediates the association between the quality of an individual’s personal relationships and their overall life satisfaction. Study findings have implications for the design of programs and policies to promote autonomous goal setting and pursuit in the health domain as well as other life domains (e.g., finance).
