Patrick Payne

Associate Professor of Practice, Personal and Family Financial Planning
Portrait of Patrick Payne

650 N Park Ave
Tucson, Arizona 85721-0078

Professional Statement: 

Humanity has a complex relationship with money.  It affects every part of our lives, whether we think it should or not.  This powerful, complex, and often misunderstood relationship is what makes personal finance so interesting to study for me.

My passion is helping people live better, happier lives through better money management.  I became a professor because I saw many abuses from charlatans masquerading as ethical financial professionals and I wanted to make a difference.  Whether it's teaching financial literacy to people directly or training the next generation of ethical and competent professional financial planners, my goal is to have every household have the best financial experience they can have.


Professor Payne holds a Ph.D. in Personal Financial Planning from Texas Tech University, along with an MBA from Utah Valley University and dual B.S. degrees in Finance and Economics from Utah State University. His academic teaching journey includes positions at Texas Tech University as a Post-Doctoral Research Associate, Western Carolina University as an Assistant Professor of Finance, and currently at the University of Arizona as an Associate Professor of Practice in Personal and Family Financial Planning. His extensive academic experience is complemented by his licensure as a Certified Financial Planner®, marking him as a distinguished educator in academia. His books and teaching materials are available through his publisher on

Areas of Expertise

Financial literacy

Behavioral finance

Retirement income planning

Financial risk attitudes and perceptions

Current Projects

Midas Financial Classroom

Midas is a project that seeks to make high-quality financial literacy classroom materials available to every home and classroom.  More info and free downloads available at


Subjects Taught

Family and Consumer Finance

Retirement Planning

Estate Planning

Investment Management

Insurance Planning

Select Publications

Payne, P., & Asebedo, S. (2019). Two‐factor risk preference for investment market and credit card risk. Financial Planning Review, 2(3-4), e1062.

Payne, P., Browning, C., & Kalenkoski, C. M. (2019). Risk Tolerance and the Financial Satisfaction of Credit-Card Users. Journal of Financial Counseling and Planning.

Allen, G., Payne, P., & Grube, A. J. (2019). Not for Long: A Case Study of a Professional Athlete Who Fell from Riches to Rags. Global Sport Business Journal, 7(1).

Asebedo, S., & Payne, P. (2017).  Market Volatility and Financial Satisfaction: The Role of Financial Self-Efficacy.  Journal of Behavioral Finance

Payne, P., Browning, C., & Kalenkoski, C. M. (2016). Public Reaction to Stock Market Volatility: Evidence from the ATUS. Applied Economic Letters.

Guillemette, M., Browning, C., & Payne, P. (2015). Don’t Like the Picture? Change the Frame: The Impact of Cognitive Ability and Framing on Risky Choice. Applied Economics Letters, 22(18), 1515-1518.