The Influence of Parental Financial Socialization on Youth’s Financial Behavior: Evidence from Ghana

Chowa, Gina; Despard, Mathieu R.

doi:10.1007/s10834-013-9377-9

Cited by 43 publications

(30 citation statements)

References 34 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Finally, we join Hensley (2015) in calling for a greater collaboration between practitioners and researchers in respect to financial education. We encourage financial educators to involve parents in their programs (Chowa & Despard, 2014;van Campenhout, 2015).…”

Section: Discussionmentioning

confidence: 99%

“…A key source of financial education is that which takes place within the home. The financial knowledge and principles that children retain as they transition to adulthood originate primarily from their parents (Beutler & Dickson, 2008;Chowa & Despard, 2014;Clarke, Heaton, Israelsen, & Eggett, 2005;Jorgensen & Savla, 2010;Schuchardt et al, 2009;Shim, Barber, Card, Xiao, & Serido, 2010). However, most financial education research focuses on sources like public schools (Batty, Collins, & Odders-White, 2015;Sherraden, Johnson, Guo, & Elliott, 2011).…”

mentioning

confidence: 99%

See 1 more Smart Citation

Teaching Children About Money: Prospective Parenting Ideas From Undergraduate Students

LeBaron¹,

Rosa-Holyoak²,

Bryce³

et al. 2018

Journal of Financial Counseling and Planning

View full text Add to dashboard Cite

Many Millennials (aged 18–30 in 2016) are struggling with financial capability and independence. As efforts unfold to address this issue by improving financial education, Millennials themselves can offer helpful family-centered ideas for children’s financial learning. As part of the Whats and Hows of Family Financial $ocialization project, this qualitative study explored the ideas of 126 undergraduate students enrolled in family finance classes at three institutions from three regions of the United States about how and what they intend to teach their future children about finances. Thematic content analysis and coding of interviews revealed four core themes: (a) “Communicating Family Finances,” (b) “Opportunities for Responsibility,” (c) “The Value of Hard Work,” and (d) “The Process of Saving.” These findings have implications for parents, future parents, financial counselors, financial planners, family life educators, financial educators, therapists, and researchers in improving parental financial education for future generations.

show abstract

Section: Discussionmentioning

confidence: 99%

mentioning

confidence: 99%

Teaching Children About Money: Prospective Parenting Ideas From Undergraduate Students

LeBaron¹,

Rosa-Holyoak²,

Bryce³

et al. 2018

Journal of Financial Counseling and Planning

View full text Add to dashboard Cite

show abstract

“…Además, los estudios que evalúan los impactos de la inclusión financiera en el bienestar de los jóvenes evidencian resultados económicos, sociales y de salud positivos, incluidos la titularidad de una cuenta de ahorro y mayores niveles de bienestar económico y financiero (Chowa y Despard, 2014;Chowa y Ansong, 2010), así como una relación positiva entre el ahorro, el rendimiento académico y las expectativas de los estudiantes (Aprea et al, 2016).…”

Section: Comportamientos Financierosunclassified

Influencia de los programas de educación financiera sobre el comportamiento de los jóvenes: una revisión de literatura

Plata-Gómez

Caballero-Márquez

2020

revinv

View full text Add to dashboard Cite

Dada la evidente necesidad de educar económica y financieramente a la población, se han implementado en diferentes partes del mundo estrategias y programas que permiten desarrollar los conocimientos y comportamientos financieros de los jóvenes. Sin embargo, existen pocos estudios que permitan extraer evaluaciones significativas del impacto de dichos programas sobre la transformación de los hábitos y comportamientos de los jóvenes en materia financiera. Por lo que, este artículo busca reconocer la dinámica de publicación de dichos estudios, así como, identificar a través de los resultados de las diferentes investigaciones, los principales comportamientos financieros que logran desarrollar los jóvenes a partir de los programas de educación financiera implementados en instituciones educativas a nivel global. Los resultados de esta investigación revelan que la implementación de estos programas, genera cambios positivos sobre algunos de los comportamientos financieros de los jóvenes, principalmente sobre su comportamiento de ahorro y planificación para la jubilación, lo cual les permite tomar decisiones financieras asertivas, mejorando así su calidad de vida y la de sus familias.

show abstract

“…In summary, negative financial attitudes are associated with poor financial behaviors and reduced financial satisfaction (Dowling, Corney, and Hoiles ). As parental financial socialization increases, adolescents and adults demonstrate better financial behaviors (Cho et al ; Chowa and Despard ). The opposite of parental socialization—not talking about money—can wreak havoc on children as they age (Mumford and Weeks ).…”

Section: Intergenerational Transfersmentioning

confidence: 99%

The Intergenerational Transference of Money Attitudes and Behaviors

Britt¹

2016

Journal of Consumer Affairs

View full text Add to dashboard Cite

The purpose of this report is to provide resources to financial educators working with consumers surrounding intergenerational influences in the development of financial attitudes and behaviors. Financial decisions are influenced by our attitudes, which are highly influenced by cultural issues, including family, ethnicity, gender, and socioeconomic status. Understanding these influences is important as financial educators implement effective intervention techniques. This paper was completed under contract with the Consumer Financial Protection Bureau's Office of Financial Education, in support of its mission to improve the effectiveness of financial education. According to the CFPB, financial educators are unclear how to implement soft skills into practice due to a lack of experiential training. This report outlines strategies financial planners and educators can incorporate into their practice to assist clients in identifying the intergenerational patterns of money attitudes and behaviors.

show abstract

The Influence of Parental Financial Socialization on Youth’s Financial Behavior: Evidence from Ghana

Cited by 43 publications

References 34 publications

Teaching Children About Money: Prospective Parenting Ideas From Undergraduate Students

Teaching Children About Money: Prospective Parenting Ideas From Undergraduate Students

Influencia de los programas de educación financiera sobre el comportamiento de los jóvenes: una revisión de literatura

The Intergenerational Transference of Money Attitudes and Behaviors

Contact Info

Product

Resources

About