Systematic Review of Personal Finance Articles in Family and Consumer Sciences Journals

The recession of 2008 brought foreclosures, job loss, credit defaults, an increase in bankruptcy, and a decrease in savings rates. The past decade also introduced a major change in the healthcare system and concern for the increase in student loan debt. All of these issues affected individuals, families, and communities in a variety of ways; for many, their way of life was upset. Core financial knowledge on topics such as budgeting, saving, goal setting, planning for major purchases, and managing expenses is static--the definitions and processes change very little over time. How core knowledge is implemented into an individual's or a family's financial management behavior is dynamic. Financial behavior is influenced by events occurring in the macro environment. Family and consumer sciences (FCS) professionals need to be aware of how these events are influencing financial decision making so they can adapt current programming or develop new programs to meet the needs of their audience. The purpose of this article is to report the results of a systematic review of personal finance articles published from 2009 to 2019 in seven family and consumer sciences journals. Articles included in the review addressed personal finance topics. The qualitative analysis examined categorizations and themes. Published most often were articles on the topics of "financial education," "financial literacy," and "investing/saving." Research articles were predominately on the topic of financial literacy, programs were most often on the topic of financial education. A limited number of articles reported on research results or program impact for minority groups. This systematic review summarizes select publications that reflect how FCS professionals have addressed the programming needs of individuals and families concerning the events that have affected the economic community.