THE role of family structure on financial socialiSation techniques and behaviour of students in the Eastern Cape, South Africa

Antoni, Xolile

doi:10.1080/23322039.2023.2196844

Cited by 3 publications

(3 citation statements)

References 32 publications

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“…South Africa is experiencing high debt levels among young adults with a high number of young adults applying for debt review programme offered by debt counsellors (Sallie, 2015). Black African consumers have low levels of knowledge regarding issues such as bad debts and are more likely to experience problems in financial decision-making than other racial groups (Antoni, 2018). Additionally, black African consumers in rural and low-income area are more likely to be exploited by informal lenders commonly referred to a loan sharks or mashonisa due to minimal access to financial products, credit facilities from financial institution and poor financial decisions (FinMark Trust, 2019).…”

Section: Introductionmentioning

confidence: 99%

“…Therefore, study is of national importance to South Africa and to the international community because it intends to fill the gap in literature which according to the researcher's knowledge has been ignored for a very long time, as there seems to be no study that investigate the influence of parental financial socialisation on young black African adults' financial decision-making in rural and low-income area in South Africa. The only few notable studies were conducted by Nomlala (2021), Antoni and Saayman (2021), Antoni et al (2019), Antoni (2018) and Sallie (2015). Nomlala (2021) investigated financial socialisation of accounting students in South African universities.…”

Section: Introductionmentioning

confidence: 99%

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The Impact of Parental Financial Socialisation on Financial Decision-Making of Young Black African Adults in Rural and Low-Income Area in South Africa

Ndou

2023

IJEFI

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This study investigated the impact of parental financial socialisation on financial decision-making of young black African adults in rural and low-income area in South Africa. Data was collected through self-administered questionnaire from 423 young black African adults in Fetakgomo Tubatse and Intsika Yethu local municipalities, low-income and rural areas in South Africa. Multiple regression analysis was used to test the relationship between parental financial behaviour, parental financial monitoring, parental financial discussion, parental financial communication, and parental financial teaching with financial decision-making. The results indicated that parental financial communication had a significant positive relationship with financial decision-making. While parental financial behaviour, parental financial monitoring, parental financial discussion, and parental financial teaching had no positive relationship with financial decision-making. Therefore, the overall results indicated that parental financial socialisation has no impact on financial decision-making of young black African adults in rural and low-income area in South Africa. This study provided recommendations to parents, young black African adults, financial educators, financial services institutions, and financial counsellors.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The Impact of Parental Financial Socialisation on Financial Decision-Making of Young Black African Adults in Rural and Low-Income Area in South Africa

Ndou

2023

IJEFI

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“…Studies in black rural and low-income area are even more scant. The only notable studies were conducted by Antoni (2023), Nomlala (2021), Antoni and Saayman (2021), Antoni, Rootman, and Struwig (2019), and Antoni (2018), and Sallie (2015). These studies focused on general financial socialisation of accounting students, young financial professionals, and students.…”

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confidence: 99%

Parental Financial Socialisation of Young Black African Adults in South Africa

2024

Glob Bus Financ Rev

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Purpose: Parental financial socialisation is necessary to help young adults to effectively manage their finances and improve their financial well-being. This study examined parental financial socialisation of young black African adults by their parents in rural and low-income area in South Africa. Design/methodology/approach: Parental financial socialisation was measured through parental financial behaviour, parental financial monitoring, parental financial discussions, parental financial communications, and parental finan-cial teaching. This study adopted quantitative research approach and self-administered questionnaire to collect data from young black African adults in Fetakgomo Tubatse and Intsika Yethu municipalities because these municipal-ities are the most rural and low-income areas in South Africa. Descriptive statistics were used to analyse data. The composite score was calculated to determine parental financial socialisation. Findings: The overall score of Parental financial socialisation was 53%, which is moderate. Thus, young black African adults are financially socialised by their parents. This result was surprising as parents in rural and low-income areas uphold cultural norms and values and consider discussing certain issues like money with children a taboo. Research limitations/implications: Due to the low levels of general literacy among the respondents, which neg-atively affected data collection; some young adults did not understand the questionnaire and withdrew from partic-ipating in the study. Furthermore, even though confidentiality and anonymity were guaranteed, respondents were reluctant to participate in the study. They feared exposing their financial position and displayed a lack of trust. Originality/value: This study is the first to investigate parental financial socialisation of young black African adults in rural and low-income area in South Africa. This study concluded by providing recommendations and suggestions for future research.

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Avances investigativos de la integración de la educación financiera en los niveles superiores de educación: una revisión bibliométrica

González Prieto,

Mejía Franco

2024

Academia y Virtualidad

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Con frecuencia, las personas gestionan sus finanzas sin conocimiento o experiencia adecuada, lo que a menudo resulta en elecciones apresuradas. Es crucial reconocer que una mala gestión financiera repercute tanto en el individuo como en la sociedad en general. Las decisiones financieras cotidianas abarcan organizaciones, hogares y personas, por lo tanto, es fundamental adquirir conocimientos para tomar determinaciones acertadas. En Colombia, se carece de conocimientos financieros básicos, lo que lleva a la toma de decisiones no informadas; la educación financiera mejora la calidad de vida y brinda la confianza para administrar las finanzas. La academia es crucial para cambiar la forma en la que los estudiantes toman decisiones financieras, por ello, brindarles elementos que los capaciten para dar un uso adecuado a los recursos es importante. Este artículo revisa cómo está integrada la educación financiera en la educación superior a través del rastreo de las publicaciones registradas en la base de datos Scopus entre los años 2000 y 2023, las herramientas bibliométricas como Bibliometrix y Tree of Science para identificar los autores, países, revistas y documentos más relevantes en el campo, a fin de establecer la relevancia en la implementación de la educación financiera en los niveles superiores de educación y las diferentes estrategias a llevar a cabo para su articulación. La investigación muestra el origen, evolución y tendencias emergentes del tema, una vez analizados 612 documentos que muestran el papel de la educación financiera con relación al consumo, jubilación y negocios; finalmente, se presenta la agenda para futuras investigaciones.

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THE role of family structure on financial socialiSation techniques and behaviour of students in the Eastern Cape, South Africa

Cited by 3 publications

References 32 publications

The Impact of Parental Financial Socialisation on Financial Decision-Making of Young Black African Adults in Rural and Low-Income Area in South Africa

The Impact of Parental Financial Socialisation on Financial Decision-Making of Young Black African Adults in Rural and Low-Income Area in South Africa

Parental Financial Socialisation of Young Black African Adults in South Africa

Avances investigativos de la integración de la educación financiera en los niveles superiores de educación: una revisión bibliométrica

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