Imagined interactions, family money management patterns and coalitions, and attitudes toward money and credit

Abstract

This study explores the imagined interactions college students have with their parents about money and credit, their attitudes toward credit and money, the ways they say their parents deal with financial decisions, and the communication coalitions regarding finances they perceive existing within their family. Students’ imagined interaction pleasantness is greatest when parents jointly form a plan for paying off credit card debt and lowest when parents argue. When family coalitions exist, students report more frequent imagined interactions. Imagined interaction frequency and pleasantness are related to credit and money attitudes. Copyright Springer Science+Business Media, LLC 2007Credit cards, Family differentiation, Imagined interactions, Money management patterns, Parent–teen communication,

An Exploratory Study of Personal Financial Wellbeing Determinants: Examining the Moderating Effect of Gender

“…While a wide range of studies indicate the effect of financial knowledge as the main determinant of financial management, other studies (Allen, Edwards, Hayhoe, & Leach, 2007;Hayhoe, Leach, Turner, Bruin, & Lawrence, 2000) indicate the role of financial attitude as a prior factor in financial practices. Research findings also indicate that financial attitude is dependent on several causes such as socialization process and socio-demographic factors such as age and gender.…”

Factors Affecting Financial Consumers’ Private Pension Plan Decisions: A Literature Review and a Conceptual Framework Proposal

“…Therefore, the individuals' willingness to adopt parental financial role modeling should be positively related to their financial attitudes and behaviors. For instance, young people who discuss financial issues with their parents use credit more frequently (Allen et al, 2007). Rickwood and White (2009) note that familial influence has the biggest impact on the extent to which participants prepare for retirement.…”

Does Marital Status of Parents Relate to Family Communication Regarding Finances?

“…Overview can be found in Koerner and Kitzpatrick (2006). Another possible perspective is found in Allen, Edwards, and Hayhoe, (2007), a study in which family members are asked about imagined discussions among family members on financial topics. Additionally, Allen (2008) suggests symbolic convergence theory and narrative performance theory as possible frameworks for research on parent-child communications about financial matters.…”