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Handbook of Consumer Finance Research
Handbook of Consumer Finance Research
Date: 12 November 2010, 05:58

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For several reasons, American consumers are now facing many financial challenges. First, the social security system will likely be insolvent within the next 40 years. Second, private industries are moving from defined benefit pensions to defined contribution retirement plans. These trends require individual consumers to take more responsibility for their financial future. Another factor is the rising cost of higher education that many consumers now have to consider when planning their children’s college education. In addition, easily accessible credit has pushed many consumers deep into debt, leading to record high individual bankruptcy filings, increased demand for credit counseling, and increased numbers of debt consolidations. These growing social issues recently prompted government and private organizations to sponsor joint efforts of financial education and research. Out of these developments grows the need for a book to summarize research findings and point out future directions. Handbook of Consumer Finance Research answers this call by addressing these social issues as well as directly helping consumer finance researchers, policy makers, educators, and practitioners to design, implement, and evaluate financial education and research initiatives.
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