New Study Finds Digital Financial Wellness Program Reduces Financial Stress and Boosts Financial Capability Among Latino Adults
MALIBU, Calif. – Dollars and Zen, a new study led by Pepperdine University 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.
“Money is one of the biggest stressors in life—especially in underserved communities,” said Dr. Luisa Blanco, Professor of Public Policy and Economics at Pepperdine University. “We saw a real opportunity to improve financial outcomes by addressing financial knowledge and stress simultaneously.”
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.
“We’re excited about the program’s success,” said Dr. Nataria T. Joseph, Associate Professor of Psychology at Pepperdine’s Seaver College, “but we’re also asking deeper questions: How can we further personalize it? Could a social or cohort-based model increase its impact?”
Read the research brief here.
About Pepperdine University School of Public Policy
The School of Public Policy (SPP) is built on a distinctive philosophy of nurturing public leaders to use tools of analysis and policy design to effect real change. Grounded in understanding policy's moral and distinctly American elements, SPP prepares graduates for careers as leaders by offering a master’s degree in public policy and three joint-degree programs. The school’s Davenport Institute for Public Engagement and Civic Leadership promotes citizen participation in governance through major conferences, trainings, seminars, and published research. Follow SPP on Facebook, Twitter, Instagram, LinkedIn, and YouTube.
Media Contact
Public Relations Office
pr@pepperdine.edu
818.702.1401