Madeline is a Junior majoring in Family Studies with an emphasis in Human Development at BYU with plans to earn a master's degree in PA school. Her research interests include financial socialization, marriage relationships, and romantic relationships. She is passionate about leadership and loves live music, fishing, Nordic skiing, and fresh fruit!
Madeline Coleman
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The Great Divide: Gender Gap in Financial Literacy
Scholars have found, on average, that men have higher financial literacy than women.1 Financial literacy is defined as “knowledge and understanding of financial concepts and risks, and the skills, motivation and confidence to apply such knowledge and understanding in order to make effective decisions across a range of financial contexts to improve the financial well-being of individuals and society.”1 Financial literacy is vital because all people, male and female, have to make complex financial decisions such as investing, retiring, and financing.
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Waiting For Wealth: Do Financial Goals Impact Marriage?
Ever felt overwhelmed or stressed about finances? You are not alone! 82% of emerging adults (aged 18-25) report feeling stressed about finances.1 At the same time, many individuals believe they need to save a certain amount of money or achieve certain financial goals before getting married. Researchers call this belief a “financial barrier belief.” This may look like a goal to save 10k or to be debt free before marriage. 91% of emerging adults believe financial independence before marriage is essential.1
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An End to Elder Fraud: Conditions and Financial Fraud of Older Adults
Some might wonder why older adults are getting phone calls from non-caller ID’s or so-called family members asking for extra money or financial assistance. Older adults (ages 65 and above) are more susceptible than other ages to one of the most invasive crimes in the US: Financial fraud.1 Because this crime is so common among older adults, the specific name for financial fraud against the elderly is “Elder Fraud.”1 Each year, millions of older Americans find themselves as victims to Elder Fraud. Some financial fraud tactics include deceptive tech support, relative schemes, government impersonation scams, fake sweepstakes, and more.
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Dreams Do Come True: Expecting to Marry May Be a Self-Fulfilling Prophecy
Emerging adults enveloped by the so-called “decade of decisions” must consider different priorities like marriage, education, building a career, identity exploration, and more, all competing for top of the list. It’s becoming more common for marriage to get kicked down the list—something to be prioritized later. As a consequence, many emerging adults today are waiting to say “I do.” The U.S. Census Bureau reports the median age for marriage is now 30.8 for men and 28.4 for women. This trend mirrors shifting ideas about marriage from a starting point to a finish line.1 In contrast to this rising popular opinion that later marriage is qualitatively better, researchers have actually found that marrying later does not appear to increase marital success but, rather, be a slight risk factor for a lower quality, less stable marriage.2
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