New Study Finds Digital Financial Wellness Program Reduces Financial Stress and Boosts Financial Capability Among Latino Adults
MALIBU, Calif. 鈥� , a new study led by 乱伦视频 professors Dr. Luisa Blanco and Dr. Nataria T. Joseph, has revealed that digital tools can be leveraged to improve financial behaviors and reduce financial stress among Latino adults.
The program is a first-of-its-kind bilingual, community-informed intervention that combines financial education with stress management. Developed in partnership with local community organizations including the Boys and Girls Club of Malibu, Malibu Community Labor Exchange, and Eastmont Community Center, Dollars and Zen is tailored to meet the needs of the Latino community.
鈥淢oney is one of the biggest stressors in life鈥攅specially in underserved communities,鈥� said Dr. Luisa Blanco, Professor of Public Policy and Economics at 乱伦视频. 鈥淲e saw a real opportunity to improve financial outcomes by addressing financial knowledge and stress simultaneously.鈥�
Latino adults in the U.S. face disproportionate financial vulnerability, scoring 20% lower in financial capability compared to White adults and experiencing significantly higher financial stress, according to the TIAA Institute and APA.
To address this disparity, participants received weekly emails and text messages for three months with interactive activities focused on budgeting, debt management, goal setting, and stress-reduction strategies rooted in cognitive-behavioral science.
Participants in the program reported feeling more confident about managing their money, setting and reaching financial goals, and reducing debt. They also demonstrated healthier financial behaviors, such as creating spending plans and prioritizing savings. In addition, participants reported a notable decrease in financial stress.
鈥淲e鈥檙e excited about the program鈥檚 success,鈥� said Dr. Nataria T. Joseph, Associate Professor of Psychology at Pepperdine鈥檚 Seaver College, 鈥渂ut we鈥檙e also asking deeper questions: How can we further personalize it? Could a social or cohort-based model increase its impact?鈥�
Read the research brief .
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