Wookjae Heo

Associate Professor, White Lodging-J.W. Marriott, Jr. School of Hospitality and Tourism Management

Associate Professor of Financial Counseling and Planning

Areas of Expertise

Financial behavior, consumer behavior, financial stress, insurance planning, machine learning

HHS Signature Research Area(s)

Sustainable Organizations and Thriving Communities

White Lodging-J.W. Marriott, Jr. School of Hospitality and Tourism Management Research Area(s)

Consumer Behavior and Individual Well-Being
Sustainability and Innovation

Biography

Wookjae Heo, PhD, is an Associate Professor of Financial Counseling and Planning in the Division of Consumer Science at Purdue University. His research examines financial consumer well-being, with particular emphasis on financial stress, financial risk tolerance, household financial decisionmaking, insurance, and human-centered applications of artificial intelligence and machine learning in financial services. He develops and applies behavioral measures, predictive models, and datadriven methods to understand how psychological, market, and technological factors shape financial decisions and outcomes.

Before joining Purdue University in 2021, Heo was a faculty member at South Dakota State University. He earned his PhD in consumer economics and financial planning from the University of Georgia and his MA and BA from Seoul National University. Before entering academia, he worked in strategic marketing planning and consumer research in South Korea. He also serves in leadership and editorial roles in academic associations and journals related to consumer research, financial planning, and financial services.

Education

PhD, Consumer Economics and Financial Planning, University of Georgia, 2016
MA, Consumer Studies and Resource Management, Seoul National University, 2006
BA, Consumer and Child Studies, Seoul National University, 2004

Websites

FinELab

Social Media Accounts

Current Courses

CSR 342 - Personal Finance
CSR 414 - Tax and Estate Planning
CSR 481 - Ethics and Compliance of Financial Planning
CSR 485 - Case Studies in Financial Planning
HTM 514 - Business Analytics for Service Industries

Selected Honors/Awards

KAUPA Faculty Collegiality Award, Korean American University Professors Association - 2026
Horst Schulze Research Excellence in Hospitality Award, Graduate Education and Graduate Student Research Conference in Hospitality and Tourism - 2026
Outstanding Research Award, White Lodging-J.W. Marriott Jr. School of Hospitality and Tourism Management, Purdue University - 2025
Outstanding Researcher Award, Financial Therapy Association - 2023
Richard L. D. Morse Applied Consumer Economics Award — Professional Paper, American Council on Consumer Interests - 2022

Selected Grants

North Central Regional Center for Rural Development Working Group: “Strengthening Rural Financial and Health Resilience Through Multistate Research and Extension Collaboration”, August 2026–July 2028
Korean Deposit Insurance Corporation commissioned research: “Effects of an Increase in the Deposit Insurance Limit on Depositor Composition and Savings Bank Deposit Structures”, July–November 2026
Financial Planning Canada research collaboration: “AI-Driven Solutions to Bridge Income Gaps and Enhance Accessibility”, August 2025–February 2026

Professional Affiliations

Editorial Board Member: Journal of Financial Counseling and Planning, Journal of Financial Therapy, and Journal of Financial Consumers
Academic Board and Committee Member: Financial Therapy Association as a Diversity and Equity Board Member, and Korean Academy of Financial Consumers as a Board Member