Memorial Union at University of North Dakota

Financial Interdependence Project

The Financial Interdependence Project (FIP) serves as a research, training, and systems change initiative dedicated to helping people become financially capable and prosperous, by harnessing principles of mutuality.

About FIP

Many individuals, families, and communities share money and in-kind resources, thereby creating financial safety nets. Often, the practice of sharing is rooted in a culture. Formal savings clubs, remittances, and sharing between family and friends or within congregations in times of crisis or opportunity are all expressions of financial interdependence (FI). In short, when we recognize that people make financial choices based upon both a financial outcome and the implications for their social relationships, it provides a whole new perspective on our research, practice, funding, and education.

Some research has explored sharing money as practiced by specific ethnic, religious, or socioeconomic groups. However, little research exists to understand the practice more generally, or to integrate findings into uncolonized, culturally informed financial capability curricula. Too often, curricula perpetuate a financial independence narrative, dissociating one’s connection to community or culture. To address this, FIP's mission is to engage in research, training, and systems change, exploring and harnessing the dual financial and relational nature of FI to improve financial well-being.

FINANCIAL INTERDEPENDENCE: A SOCIAL PERSPECTIVE

Initial Project Steps

Submit drafted research for publication (i.e., sharing as a moderator between financial knowledge and financial fragility)
Connect with scholars, practitioners, institutions, funders, and individuals interested in exploring and furthering FI
Hold a colloquium mini-conference to start initial discourse, develop a white paper, and identify lines of activity

Events

The 2nd Financial Interdependence Project Colloquium
Friday, April 5th, 2024 | 10 a.m. to 4 p.m. CT

Held online via Zoom, the event will employ an inquiry-forward approach to explore financial interdependence and understand how it applies to various domains of interest.

This second Colloquium will include a diverse and interdisciplinary group with experts from psychology, finance, social work, consumer science, family science, financial education, etc. Each will bring their own racial, ethnic, gender, cultural, and experiential perspectives. The group has representation from industry, foundations, government, academia, and non-profits.

What will be discussed?

Topics of discussion for this session include:

FI and financial abuse
FI and guaranteed income
Personal experiences with FI
FI and Native cultures
FI and educating students

There will be a short presentation and discussion on each topic. Since no one is an "expert," the event provides an opportunity to share experiences and collaboratively explore the issues.

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Support the Financial Interdependence Project

Funds donated will go towards continued support of research, training, and programs that advance understanding of financial interdependence.

This funding supports:

Future colloquium attendees travel or hotel
Honorariums for others’ financial interdependence research projects
Summer support
Support for developing interdependence-informed financial education materials
Travel to visit groups engaged in financial interdependence activities
Publication and article processing costs in order to make research publicly available
Books and materials for further research

Give

To give, select "Financial Interdependence Project Fund" from under the "Click here to select your fund" tab, Search: Interdependence.

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Fall 2023 Mini-Conference Colloquium Presentations

These presentations were given as part of the Mini-Conference (as featured in UND Today) held on September 22-24, 2023 at the University of North Dakota, Grand Forks, ND.