IDEAS home Printed from https://ideas.repec.org/a/bla/jconsa/v59y2025i3ne70026.html
   My bibliography  Save this article

What My Parents Did for Me: Parental Financial Sacrifice, Money Scripts, and Financial Behaviors Among Hong Kong Youths in Low‐SES Households

Author

Listed:
  • Xiaomin Li
  • Ashley Kuelz
  • Muhammad Aamir Khan
  • Ashley B. LeBaron‐Black

Abstract

Drawing on the family financial socialization model, this study examines parental financial sacrifice—parents prioritize their children's future over their own financial needs—and its associations with youths' financial behaviors. We investigated three types of financial behaviors: (1) short‐term management (e.g., saving and spending), (2) long‐term management (e.g., investing), and (3) financial enabling (e.g., over‐giving or oversharing). Additionally, we explored the mediating role of money scripts—emotionally charged beliefs about money—and their organization into distinct profiles. Based on cross‐sectional data from 1000 Hong Kong youths in low‐SES households, we found that higher‐level parental financial sacrifice was associated with healthier short‐ and long‐term money management but lower‐level financial enabling. These associations were mediated by money script profiles—the diverse combinations of money‐related beliefs. These results underscore the distinctive financial socialization experiences of youths in low‐SES households while highlighting the value of understanding money script profiles to mitigate their challenges.

Suggested Citation

  • Xiaomin Li & Ashley Kuelz & Muhammad Aamir Khan & Ashley B. LeBaron‐Black, 2025. "What My Parents Did for Me: Parental Financial Sacrifice, Money Scripts, and Financial Behaviors Among Hong Kong Youths in Low‐SES Households," Journal of Consumer Affairs, Wiley Blackwell, vol. 59(3), September.
    • Handle: RePEc:bla:jconsa:v:59:y:2025:i:3:n:e70026
    DOI: 10.1111/joca.70026
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/joca.70026
    Download Restriction: no
    File URL: https://libkey.io/10.1111/joca.70026?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jconsa:v:59:y:2025:i:3:n:e70026. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0022-0078 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.