The Role of Parental Education in Financial Socialization of Children

Nadzeya Kardash (), Lauren E. Coleman-Tempel () and Meghan E. Ecker-Lyster ()
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Nadzeya Kardash: Center for Educational Opportunity Programs, Achievement and Assessment Institute, University of Kansas
Lauren E. Coleman-Tempel: Center for Educational Opportunity Programs, Achievement and Assessment Institute, University of Kansas
Meghan E. Ecker-Lyster: Center for Educational Opportunity Programs, Achievement and Assessment Institute, University of Kansas

Journal of Family and Economic Issues, 2023, vol. 44, issue 1, No 10, 143-155

Abstract: Abstract Drawing on Annette Lareau’s conceptual framework of concerted cultivation versus accomplishment of natural growth this qualitative study examines the impact of parental practices on children’s exposure to financial topics and offers insight into how parents socialize their children on financial matters. Lareau’s model suggests that middle- and upper-class families tend to provide more opportunities for their children to socialize with institutions than working class families, thus, better preparing children to navigate, interact, and thrive in complex social systems as adults. Though the study’s findings don’t precisely align with Lareau’s theory, they suggest that mothers’ education level plays a role in financial socialization of children.

Keywords: Financial socialization; Financial behavior; Social inequality; Parenting (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s10834-021-09806-z

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