The role of parents in college students' financial behaviors and attitudes

Jill M. Norvilitis and Michael G. MacLean

Journal of Economic Psychology, 2010, vol. 31, issue 1, 55-63

Abstract: This study examined how parents' teaching and modeling of financial concepts affects college student credit card debt (n = 173). Parental hands-on mentoring of financial skills was most strongly related to lower levels of credit card debt and this relationship was partially mediated by it leading to greater financial delay of gratification and less impulsive credit card purchasing which in turn were related to less problematic credit card use. Having parents who struggled with debt was not significantly related to debt although having parents who avoided talking about finances predicted problematic credit card use. Students' beliefs that their parents would bail them out of debt were related to lower levels of debt. Financial knowledge and parental verbal instruction appear to have complex relationships to credit card debt.

Keywords: College; students; Consumer; attitudes; Knowledge; level; Childrearing; practices (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (52)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0167-4870(09)00104-4
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:31:y:2010:i:1:p:55-63

Access Statistics for this article

Journal of Economic Psychology is currently edited by G. Antonides and D. Read

More articles in Journal of Economic Psychology from Elsevier
Bibliographic data for series maintained by Catherine Liu ().