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Author: Letkiewicz, Jodi C.

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1.	Letkiewicz, Jodi C.
1.	Self-control, Financial Literacy, and the Financial Behaviors of Young Adults Ph.D. Dissertation, The Ohio State University, 2012 Cohort(s): NLSY97 Publisher: ProQuest Dissertations & Theses (PQDT) Keyword(s): Assets; Debt/Borrowing; Financial Literacy; Personality/Ten-Item Personality Inventory-(TIPI); Self-Regulation/Self-Control Permission to reprint the abstract has not been received from the publisher. The objective of this study is to determine whether financial literacy is able to moderate the effects of self-control on financial outcomes. Financial literacy is an oft cited solution to the myriad financial complexities faced by consumers. If financial literacy is effective it should help consumers overcome issues of self-control to encourage more fiscally responsible behaviors. Both economic and psychological theories of self-control are explored, and a conceptual model using the Big Five personality trait of conscientiousness as a measure of self-control is utilized. Data for this study come from the 1997 National Longitudinal Survey of Youth (NLSY) and the sample used in the study is comprised of 5,892 respondents. The measure of conscientiousness was collected in Round 13 as part of the Ten-Item Personality Inventory (TIPI). Financial literacy was assessed using three questions, collected in Round 11, on compounding interest, inflation, and stock risk. The five dependent variables modeled in this study are net worth, illiquid assets, liquid assets, credit card debt, and negative financial events. Multivariate linear and logistic regressions are used to analyze the data and an interaction term (financial literacy*conscientiousness) is used to test for moderating effects.
	Bibliography Citation Letkiewicz, Jodi C. Self-control, Financial Literacy, and the Financial Behaviors of Young Adults. Ph.D. Dissertation, The Ohio State University, 2012.

2.	Letkiewicz, Jodi C. Fox, Jonathan
2.	Conscientiousness, Financial Literacy, and Asset Accumulation of Young Adults Journal of Consumer Affairs 48,2 (Summer 2014): 274-300. Also: http://onlinelibrary.wiley.com/doi/10.1111/joca.12040/abstract Cohort(s): NLSY97 Publisher: American Council on Consumer Interests (ACCI) Keyword(s): Assets; Financial Literacy; Net Worth; Personality/Big Five Factor Model or Traits Permission to reprint the abstract has not been received from the publisher. This study utilizes the 1997 National Longitudinal Survey of Youth to examine the relationship between financial literacy, conscientiousness, and asset accumulation among young adults. Findings indicate that both conscientiousness and financial literacy are consistent predictors of asset accumulation among young Americans. A one-standard-deviation increase in conscientiousness is correlated with a 40% increase in net worth, a 53% increase in illiquid asset holdings, and a 33% increase in liquid asset holdings. A one-standard-deviation increase in financial literacy is correlated with a 60% increase in illiquid asset holdings and a 30% increase in liquid asset holdings. Financial literacy moderates the effect of conscientiousness on net worth. These findings suggest that conscientiousness and financial literacy are important factors and that policies and programming with a dual emphasis on increasing conscientiousness and financial literacy are likely to have a positive impact on consumer savings and asset-building.
	Bibliography Citation Letkiewicz, Jodi C. and Jonathan Fox. "Conscientiousness, Financial Literacy, and Asset Accumulation of Young Adults." Journal of Consumer Affairs 48,2 (Summer 2014): 274-300.

3.	Letkiewicz, Jodi C. Heckman, Stuart J.
3.	Homeownership among Young Americans: A Look at Student Loan Debt and Behavioral Factors Journal of Consumer Affairs 52,1 (Spring 2018): 88-114. Also: https://onlinelibrary.wiley.com/doi/abs/10.1111/joca.12143 Cohort(s): NLSY97 Publisher: American Council on Consumer Interests (ACCI) Keyword(s): College Cost; Debt/Borrowing; Home Ownership; Risk-Taking; Student Loans / Student Aid Permission to reprint the abstract has not been received from the publisher. This study uses the National Longitudinal Survey of Youth (1997) to examine the factors that impact homeownership among young adults, with an emphasis on student loan debt. Three key findings arise from the research. First, life cycle and demographic characteristics, such as marital status, education, and income, continue to be strong predictors of homeownership. Married households with a college degree and children are among the most likely to own a home. Second, young adults with student loan debt are no more or less likely to own a home than someone without debt after controlling for a number of factors; however, students who have already paid off their loans are more likely to own a home. Finally, respondents who express a willingness to take risks in finances are more likely to own a home while those who are more conscientious are less likely to own a home.
	Bibliography Citation Letkiewicz, Jodi C. and Stuart J. Heckman. "Homeownership among Young Americans: A Look at Student Loan Debt and Behavioral Factors." Journal of Consumer Affairs 52,1 (Spring 2018): 88-114.

4.	Letkiewicz, Jodi C. Heckman, Stuart J.
4.	Repeated Payment Delinquency Among Young Adults in the United States International Journal of Consumer Studies 43,5 (September 2019): 417-428. Also: https://onlinelibrary.wiley.com/doi/10.1111/ijcs.12522 Cohort(s): NLSY97 Publisher: Wiley Online Keyword(s): Debt/Borrowing; Financial Behaviors/Decisions; Modeling, Probit; Personality/Big Five Factor Model or Traits; Student Loans / Student Aid Permission to reprint the abstract has not been received from the publisher. There is concern in the United States about young adults falling behind financially due to the increased use of student loans and low wages. This study investigates payment delinquency as a measure of financial distress to better understand how young adults might be struggling. Personality traits are incorporated into the model to determine the extent to which behavioral factors are correlated with financial behand if they predict a habit trend of payment delinquency. The 1997 National Longitudinal Survey of Youth (NLSY97), a nationally representative longitudinal dataset, is used in the study. A random effects probit model and a dynamic random effects probit model are used to examine late bill pay (harassed by bill collectors) and late rent or mortgage payments (more than 60 days late) over a period of eight years (2007-2015). Results from the analysis indicate that payment delinquency in a previous period increases the likelihood of payment delinquency by 10 percentage points in a subsequent period. Conscientiousness decreases the likelihood by 2.1 percentage points, while neuroticism increases the likelihood by 1.6 percentage points. This article is protected by copyright. All rights reserved.
	Bibliography Citation Letkiewicz, Jodi C. and Stuart J. Heckman. "Repeated Payment Delinquency Among Young Adults in the United States." International Journal of Consumer Studies 43,5 (September 2019): 417-428.

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