Can We Talk About Money? Financial Socialization Through Parent–Child Financial Discussion
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Final Accepted Manuscript
Affiliation
Univ Arizona, Family Studies & Human DevIssue Date
2020-02-10Keywords
emerging adultsfamily finance
qualitative methods
financial discussion
financial education
financial parenting
family financial socialization
financial socialization
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SAGE PUBLICATIONS INCCitation
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/10.1177/2167696820902673Journal
EMERGING ADULTHOODRights
© 2020 Society for the Study of Emerging Adulthood and SAGE PublishingCollection 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
2167-6968EISSN
2167-6984Version
Final accepted manuscriptSponsors
Marjorie Pay Hinckley Research Award, School of Family Life, Brigham Young UniversityScopus Count
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