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The Role of Parental Education in Financial Socialization of Children

Author

Listed:
  • 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)

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.

Suggested Citation

  • Nadzeya Kardash & Lauren E. Coleman-Tempel & Meghan E. Ecker-Lyster, 2023. "The Role of Parental Education in Financial Socialization of Children," Journal of Family and Economic Issues, Springer, vol. 44(1), pages 143-155, March.
    • Handle: RePEc:kap:jfamec:v:44:y:2023:i:1:d:10.1007_s10834-021-09806-z
    DOI: 10.1007/s10834-021-09806-z
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    References listed on IDEAS

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