Can We Talk About Money? Financial Socialization Through Parent–Child Financial Discussion
AffiliationUniv Arizona, Family Studies & Human Dev
family financial socialization
MetadataShow full item record
PublisherSAGE PUBLICATIONS INC
CitationLeBaron, A. B., Marks, L. D., Rosa, C. M., & Hill, E. J. (2020). Can We Talk About Money? Financial Socialization Through Parent–Child Financial Discussion. Emerging Adulthood. https://doi.org/10.1177/2167696820902673
Rights© 2020 Society for the Study of Emerging Adulthood and SAGE Publishing
Collection InformationThis item from the UA Faculty Publications collection is made available by the University of Arizona with support from the University of Arizona Libraries. If you have questions, please contact us at firstname.lastname@example.org.
AbstractThis multigenerational, qualitative research study explores family financial discussion processes that may lead to better financial preparation for emerging adults. Interviews were conducted with 90 emerging adults from three universities as well as 17 of their parents and 8 of their grandparents. Qualitative analyses revealed two major themes associated with family financial discussion processes. In parent-initiated discussions, principles were taught primarily through vertically structured (top-down) delivery. Three concepts reported across all three generations of respondents included (a) sharing financial experiences, (b) involving children in decisions, and (c) engaging in age-appropriate conversations. In child-initiated discussions, analyses revealed that financial principles were often taught in interactive, conversational, horizontal, and organic ways. Analyses identified two recurring concepts or contexts: (a) children asking financial questions and (b) child-initiated, age-appropriate conversations. These results highlight healthy processes for family financial discussion that may better prepare emerging adults for financial adulthood and reduce financial instability.
VersionFinal accepted manuscript
SponsorsMarjorie Pay Hinckley Research Award, School of Family Life, Brigham Young University
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