An Examination of Americans’ Time Spent in Financial Management

MaryPat Peeples, Melissa J. Wilmarth*, University of Alabama

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Abstract: In-depth analysis of individual time use and comparison of time use and finances as problems within financial management can be addressed. The 2012 panel of the American Time Use Survey (ATUS) was utilized to investigate how minutes spent in financial management varied by demographic characteristics: education, gender, race, if children are present in the household, marital status, income, and employment status. On average, Americans spent 1.86 minutes (SD=18.24) in financial management daily (N=12,443). Differences in minutes spent in financial management were tested by characteristic via one-way ANOVAs and t-tests. Results indicated that time spent in financial management varies with the presence of children in the household, marital status, education, and employment status, but not by gender, race, or income level.

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