Financial management and culture: The American Indian case

Sharon M. Danes, Jennifer Garbow, Becky Hagen Jokela

Research output: Contribution to journalArticlepeer-review

10 Scopus citations


Study investigates distal and proximal contextual influences of the American Indian culture that affect financial decisions and behaviors. Primary household financial managers were interviewed. Study was grounded in Deacon and Firebaugh's Family Resource Management theory. Findings indicated that American Indians view many concepts differently than conventional disciplinary meanings. Most critical is that money is not the only currency used within the culture but relationships and nature are also used as other currencies. Further findings of note are (a) the cultural belief that resources must be shared with all family members is seen as an obligation and often creates major resource demands, (b) spirituality and nature are of major importance in resource decisions, and (c) the holistic, integrated view of health and well-being is essential to consider when working with American Indians on resource management. Three resource management patterns were discovered: mainstream, traditional, and hybrid. Expense and income worksheets were developed reflecting cultural nuances.

Original languageEnglish (US)
Pages (from-to)61-79
Number of pages19
JournalJournal of Financial Counseling and Planning
Issue number1
StatePublished - 2016

Bibliographical note

Publisher Copyright:
© 2016 Association for Financial Counseling and Planning Education®.


  • American Indians
  • Culture and money
  • Financial management
  • Native Americans
  • Resource management
  • Spirituality


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