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Parental Financial Socialization, Financial Experiences, and Financial Behaviors: Comparing Asian American and International Asian College Students

Parental Financial Socialization, Financial Experiences, and Financial Behaviors: Comparing Asian... Paying for college expenses can be stressful for anyone, regardless of citizenship status. Asian American students and their parents may be negotiating with each other who will shoulder these expenses, while international Asian students often enter this country with their parents' financial support already established. This is the first study to specifically examine a large sample of Asian college students ( n = 671) and explore how parents influence Asian students' financial attitudes, knowledge, and behaviors through a family financial socialization theoretical lens. Results show that financial socialization is positively associated with financial behaviors for all Asian college students. Findings are informative for college counselors, financial advisors, educators, and clinicians who work with Asian students and their parents. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Counseling and Planning Springer Publishing

Parental Financial Socialization, Financial Experiences, and Financial Behaviors: Comparing Asian American and International Asian College Students

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Publisher
Springer Publishing
Copyright
© 2021 Springer Publishing Company
ISSN
1052-3073
eISSN
1947-7910
DOI
10.1891/jfcp-19-00008
Publisher site
See Article on Publisher Site

Abstract

Paying for college expenses can be stressful for anyone, regardless of citizenship status. Asian American students and their parents may be negotiating with each other who will shoulder these expenses, while international Asian students often enter this country with their parents' financial support already established. This is the first study to specifically examine a large sample of Asian college students ( n = 671) and explore how parents influence Asian students' financial attitudes, knowledge, and behaviors through a family financial socialization theoretical lens. Results show that financial socialization is positively associated with financial behaviors for all Asian college students. Findings are informative for college counselors, financial advisors, educators, and clinicians who work with Asian students and their parents.

Journal

Journal of Financial Counseling and PlanningSpringer Publishing

Published: Jun 2, 2021

References