Financial Management of Low‐income Urban Families

The major focus of this research was the difference in financial management practices used by low‐income urban white, black, and Mexican‐American families. A random sample of 199 interviews was completed during the spring of 1980 in Phoenix, Arizona, U.S.A. The sample consisted of sixty‐nine white, seventy black, and sixty Mexican‐American families. Differences in financial behaviour did occur for each race. In addition, they were optimistic regarding their own ability to handle money and resolve financial problems but generally negative toward the ability of other families to manage money, use credit, and plan purchases.