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Parental Financial Education During Childhood and Financial Behaviors of Emerging Adults

Parental Financial Education During Childhood and Financial Behaviors of Emerging Adults <p>The purpose of this article was to determine whether overt financial education from parents during childhood (retrospective measure collected in the same survey wave) is associated with a greater frequency of healthy financial management behaviors in emerging adulthood, and whether this relationship is dependent on gender. Using a sample of emerging adults from the Flourishing Families dataset <italic>(N</italic> = 437), we ran two multivariate linear regressions—one with and one without the interaction variable. Results suggest that financial education from parents during childhood is linked with a greater frequency of healthy financial behaviors in emerging adulthood but was not dependent on gender. Financial educators should involve parents when teaching children about money, and they should educate parents on how to teach their children about money.</p> http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Counseling and Planning Springer Publishing

Parental Financial Education During Childhood and Financial Behaviors of Emerging Adults

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Publisher
Springer Publishing
Copyright
© 2020 Springer Publishing Company
ISSN
1052-3073
eISSN
1947-7910
DOI
10.1891/JFCP-20-00021
Publisher site
See Article on Publisher Site

Abstract

<p>The purpose of this article was to determine whether overt financial education from parents during childhood (retrospective measure collected in the same survey wave) is associated with a greater frequency of healthy financial management behaviors in emerging adulthood, and whether this relationship is dependent on gender. Using a sample of emerging adults from the Flourishing Families dataset <italic>(N</italic> = 437), we ran two multivariate linear regressions—one with and one without the interaction variable. Results suggest that financial education from parents during childhood is linked with a greater frequency of healthy financial behaviors in emerging adulthood but was not dependent on gender. Financial educators should involve parents when teaching children about money, and they should educate parents on how to teach their children about money.</p>

Journal

Journal of Financial Counseling and PlanningSpringer Publishing

Published: Jun 24, 2020

References