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The Socialization of Financial Giving: A Multigenerational Exploration

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  • Ashley B. LeBaron

    (University of Arizona)

Abstract

Previous research has found that family socialization influences financial giving behaviors and that financial giving predicts personal wellbeing. However, little research since the early 1980 s has explored this phenomenon, and virtually none of the research has been qualitative in nature. As part of the Whats and Hows of Family Financial Socialization project, this study employs a diverse, multi-site, multigenerational sample (N = 115) to qualitatively explore the following research question: how do children learn about financial giving from their parents? In other words, how is financial giving transmitted across generations? From interviews of emerging adults and their parents and grandparents, three core themes emerged: “Charitable Donations,” “Acts of Kindness,” and “Investments in Family.” Various topics, processes, methods, and meanings involved in this socialization are presented, along with implications and potential directions for future research.

Suggested Citation

  • Ashley B. LeBaron, 2019. "The Socialization of Financial Giving: A Multigenerational Exploration," Journal of Family and Economic Issues, Springer, vol. 40(4), pages 633-646, December.
    • Handle: RePEc:kap:jfamec:v:40:y:2019:i:4:d:10.1007_s10834-019-09629-z
    DOI: 10.1007/s10834-019-09629-z
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    References listed on IDEAS

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    1. Clinton Gudmunson & Sharon Danes, 2011. "Family Financial Socialization: Theory and Critical Review," Journal of Family and Economic Issues, Springer, vol. 32(4), pages 644-667, December.
    2. Kwok-bun Chan, 2010. "Father, Son, Wife, Husband: Philanthropy as Exchange and Balance," Journal of Family and Economic Issues, Springer, vol. 31(3), pages 387-395, September.
    3. Jinhee Kim & Jaslean LaTaillade & Haejeong Kim, 2011. "Family Processes and Adolescents’ Financial Behaviors," Journal of Family and Economic Issues, Springer, vol. 32(4), pages 668-679, December.
    4. Webley, Paul & Nyhus, Ellen K., 2006. "Parents' influence on children's future orientation and saving," Journal of Economic Psychology, Elsevier, vol. 27(1), pages 140-164, February.
    5. Lowrey, Tina M & Otnes, Cele C & Ruth, Julie A, 2004. "Social Influences on Dyadic Giving over Time: A Taxonomy from the Giver's Perspective," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 30(4), pages 547-558, March.
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    Cited by:

    1. Heather H. Kelley & Ashley B. LeBaron & E. Jeffrey Hill, 2021. "Family Matters: Decade Review from Journal of Family and Economic Issues," Journal of Family and Economic Issues, Springer, vol. 42(1), pages 20-33, July.
    2. Ashley B. LeBaron & Heather H. Kelley, 2021. "Financial Socialization: A Decade in Review," Journal of Family and Economic Issues, Springer, vol. 42(1), pages 195-206, July.
    3. Amanda E. Barnett & Teresa M. Cooney & Adam Shapiro, 2020. "Patterns of Giving to Family and Giving to Others in Midlife," Journal of Family and Economic Issues, Springer, vol. 41(4), pages 691-705, December.

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