Professor Jing Jian Xiao explores consumer finance, money management, financial literacy in published paper

Consumer finance, household finance, family finance, personal finance, behavioral finance –
what are these, and are they the same or different in the research literature? Human Development and Family Science Professor Jing Jian Xiao defines consumer finance, describes the scope of
consumer finance and discusses its future research directions in a paper that recently won a significant international award.

“Consumer Finance/Household Finance: the Definition and Scope,” written by Xiao and Chunsheng Tao, of Minshu University in Bejing, China, has been awarded the Research Excellence Award for 2021 by China Finance Review International, which also published the report. The paper discusses similarities and differences among several financial terms, and reviews key studies on consumer financial behavior around four key financial functions — money management, insurance, loan and saving/investment and several nontraditional topics such as fintech and financial capability/literacy

Read Professor Xiao’s full report here.

As a professor in HDF, Xiao teaches courses and conducts research in consumer economics and personal finance. He also serves as the Editor-in-Chief of Journal of Financial Counseling and Planning, the official research journal of Association for Financial Counseling and Planning Education (AFCPE). His research interests include how to help consumers increase financial knowledge, perform desirable financial behaviors, and enhance financial capability to improve their financial and overall well-being.