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Financial Behavior and Attitudes of Asians Compared to Other Racial/Ethnic Groups in the United States

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Abstract

Most research studying family financial behavior of racial/ethnic groups has ignored Asian households or arbitrarily combined them with other racial/ethnic groups. We treated Asian households as a separate racial/ethnic group to compare twelve financial behaviors and attitudes of Asian households to those of three other racial/ethnic groups: White, Black and Hispanic. Using multivariate analyses with the 2010 Survey of Consumer Finances, we found differences in seven behaviors/attitudes between Asian households and each of the other three household types, although the differences were not consistent across groups except for a lower credit delinquency rate of Asian households. Our results suggest that Asian households should be analyzed as a separate group and should not be combined with other racial/ethnic groups for comparison purposes.

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Authors and Affiliations

  1. Department of Human Sciences, The Ohio State University, 265D Campbell Hall, 1787 Neil Ave, Columbus, OH, 43210, USA

    Sherman D. Hanna

  2. Department of Home Economics Education, College of Education, Korea University, 145, Anam-ro, Seongbuk-gu, Seoul, 136-701, South Korea

    Jonghee Lee

  3. 2161 Arlington Ave., Columbus, OH, 43221, USA

    Suzanne Lindamood

Authors
  1. Sherman D. Hanna
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  2. Jonghee Lee
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  3. Suzanne Lindamood
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Correspondence to Sherman D. Hanna.

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Hanna, S.D., Lee, J. & Lindamood, S. Financial Behavior and Attitudes of Asians Compared to Other Racial/Ethnic Groups in the United States. J Fam Econ Iss 36, 309–318 (2015). https://doi.org/10.1007/s10834-015-9447-2

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  • DOI: https://doi.org/10.1007/s10834-015-9447-2

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