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    Can We Talk About Money? Financial Socialization Through Parent–Child Financial Discussion

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    Author
    LeBaron, Ashley B.
    Marks, Loren D.
    Rosa, Christina M.
    Hill, E. Jeffrey
    Affiliation
    Univ Arizona, Family Studies & Human Dev
    Issue Date
    2020-02-10
    Keywords
    emerging adults
    family finance
    qualitative methods
    financial discussion
    financial education
    financial parenting
    family financial socialization
    financial socialization
    
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    Show full item record
    Publisher
    SAGE PUBLICATIONS INC
    Citation
    LeBaron, 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
    Journal
    EMERGING ADULTHOOD
    Rights
    © 2020 Society for the Study of Emerging Adulthood and SAGE Publishing.
    Collection Information
    This 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 repository@u.library.arizona.edu.
    Abstract
    This 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.
    ISSN
    2167-6968
    EISSN
    2167-6984
    DOI
    10.1177/2167696820902673
    Version
    Final accepted manuscript
    Sponsors
    Marjorie Pay Hinckley Research Award, School of Family Life, Brigham Young University
    ae974a485f413a2113503eed53cd6c53
    10.1177/2167696820902673
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