IDEAS home Printed from https://ideas.repec.org/a/kap/jfamec/v32y2011i4p644-667.html
   My bibliography  Save this article

Family Financial Socialization: Theory and Critical Review

Author

Listed:
  • Clinton Gudmunson
  • Sharon Danes

Abstract

No abstract is available for this item.

Suggested Citation

  • 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.
  • Handle: RePEc:kap:jfamec:v:32:y:2011:i:4:p:644-667
    DOI: 10.1007/s10834-011-9275-y
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s10834-011-9275-y
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1007/s10834-011-9275-y?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
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Chang-Keun Han & Michael Sherraden, 2009. "Attitudes and Saving in Individual Development Accounts: Latent Class Analysis," Journal of Family and Economic Issues, Springer, vol. 30(3), pages 226-236, September.
    2. Karlsson, Niklas & Dellgran, Peter & Klingander, Birgitta & Garling, Tommy, 2004. "Household consumption: Influences of aspiration level, social comparison, and money management," Journal of Economic Psychology, Elsevier, vol. 25(6), pages 753-769, December.
    3. Rabinovich, Anna & Webley, Paul, 2007. "Filling the gap between planning and doing: Psychological factors involved in the successful implementation of saving intention," Journal of Economic Psychology, Elsevier, vol. 28(4), pages 444-461, August.
    4. Wood, Michael, 1998. "Socio-economic status, delay of gratification, and impulse buying," Journal of Economic Psychology, Elsevier, vol. 19(3), pages 295-320, June.
    5. Lunt, Peter, 1996. "Discourses of savings," Journal of Economic Psychology, Elsevier, vol. 17(6), pages 677-690, December.
    6. Childers, Terry L & Rao, Akshay R, 1992. "The Influence of Familial and Peer-Based Reference Groups on Consumer Decisions," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 19(2), pages 198-211, September.
    7. Brown, Sarah & Taylor, Karl & Wheatley Price, Stephen, 2005. "Debt and distress: Evaluating the psychological cost of credit," Journal of Economic Psychology, Elsevier, vol. 26(5), pages 642-663, October.
    8. Belk, Russell W, 1985. "Materialism: Trait Aspects of Living in the Material World," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 12(3), pages 265-280, December.
    9. Fisher, Patti J. & Montalto, Catherine P., 2010. "Effect of saving motives and horizon on saving behaviors," Journal of Economic Psychology, Elsevier, vol. 31(1), pages 92-105, February.
    10. Churchill, Gilbert A, Jr & Moschis, George P, 1979. "Television and Interpersonal Influences on Adolescent Consumer Learning," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 6(1), pages 23-35, June.
    11. Tzu-Chin Peng & Suzanne Bartholomae & Jonathan Fox & Garrett Cravener, 2007. "The Impact of Personal Finance Education Delivered in High School and College Courses," Journal of Family and Economic Issues, Springer, vol. 28(2), pages 265-284, June.
    12. 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.
    13. Deborah Thorne, 2010. "Extreme Financial Strain: Emergent Chores, Gender Inequality and Emotional Distress," Journal of Family and Economic Issues, Springer, vol. 31(2), pages 185-197, June.
    14. Barnet-Verzat, Christine & Wolff, Francois-Charles, 2002. "Motives for pocket money allowance and family incentives," Journal of Economic Psychology, Elsevier, vol. 23(3), pages 339-366, June.
    15. Watson, John J., 2003. "The relationship of materialism to spending tendencies, saving, and debt," Journal of Economic Psychology, Elsevier, vol. 24(6), pages 723-739, December.
    16. Cliff Robb, 2011. "Financial Knowledge and Credit Card Behavior of College Students," Journal of Family and Economic Issues, Springer, vol. 32(4), pages 690-698, December.
    17. Linda Skogrand & Alena Johnson & Amanda Horrocks & John DeFrain, 2011. "Financial Management Practices of Couples with Great Marriages," Journal of Family and Economic Issues, Springer, vol. 32(1), pages 27-35, March.
    18. Furnham, Adrian, 1999. "The saving and spending habits of young people," Journal of Economic Psychology, Elsevier, vol. 20(6), pages 677-697, December.
    19. Rindfleisch, Aric & Burroughs, James E & Denton, Frank, 1997. "Family Structure, Materialism, and Compulsive Consumption," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 23(4), pages 312-325, March.
    20. Hayhoe, Celia Ray & Leach, Lauren & Turner, Pamela R., 1999. "Discriminating the number of credit cards held by college students using credit and money attitudes," Journal of Economic Psychology, Elsevier, vol. 20(6), pages 643-656, December.
    21. Palan, Kay M & Wilkes, Robert E, 1997. "Adolescent-Parent Interaction in Family Decision Making," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 24(2), pages 159-169, September.
    22. Kidwell, Blair & Turrisi, Robert, 2004. "An examination of college student money management tendencies," Journal of Economic Psychology, Elsevier, vol. 25(5), pages 601-616, October.
    23. Burgoyne, Carole B. & Reibstein, Janet & Edmunds, Anne & Dolman, Valda, 2007. "Money management systems in early marriage: Factors influencing change and stability," Journal of Economic Psychology, Elsevier, vol. 28(2), pages 214-228, April.
    24. Braun, Ottmar L. & Wicklund, Robert A., 1989. "Psychological antecedents of conspicuous consumption," Journal of Economic Psychology, Elsevier, vol. 10(2), pages 161-187, June.
    25. Moschis, George P & Moore, Roy L, 1979. "Decision Making among the Young: A Socialization Perspective," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 6(2), pages 101-112, Se.
    26. Richins, Marsha L & Dawson, Scott, 1992. "A Consumer Values Orientation for Materialism and Its Measurement: Scale Development and Validation," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 19(3), pages 303-316, December.
    27. Leiser, David & Sevon, Guje & Levy, Daphna, 1990. "Children's economic socialization: Summarizing the cross-cultural comparison of ten countries," Journal of Economic Psychology, Elsevier, vol. 11(4), pages 591-614, December.
    28. Michael Gutter & Zeynep Copur, 2011. "Financial Behaviors and Financial Well-Being of College Students: Evidence from a National Survey," Journal of Family and Economic Issues, Springer, vol. 32(4), pages 699-714, December.
    29. Kirchler, Erich, 1988. "Diary reports on daily economic decisions of happy versus unhappy couples," Journal of Economic Psychology, Elsevier, vol. 9(3), pages 327-357, September.
    30. Lea, Stephen E. G. & Webley, Paul & Levine, R. Mark, 1993. "The economic psychology of consumer debt," Journal of Economic Psychology, Elsevier, vol. 14(1), pages 85-119, March.
    31. Sheri Worthy & Jeffrey Jonkman & Lynn Blinn-Pike, 2010. "Sensation-Seeking, Risk-Taking, and Problematic Financial Behaviors of College Students," Journal of Family and Economic Issues, Springer, vol. 31(2), pages 161-170, June.
    32. Davies, Emma & Lea, Stephen E. G., 1995. "Student attitudes to student debt," Journal of Economic Psychology, Elsevier, vol. 16(4), pages 663-679, December.
    33. Elena Gouskova & Ngina Chiteji & Frank Stafford, 2010. "Pension Participation: Do Parents Transmit Time Preference?," Journal of Family and Economic Issues, Springer, vol. 31(2), pages 138-150, June.
    34. Tim Fry & Sandra Mihajilo & Roslyn Russell & Robert Brooks, 2008. "The Factors Influencing Saving in a Matched Savings Program: Goals, Knowledge of Payment Instruments, and Other Behavior," Journal of Family and Economic Issues, Springer, vol. 29(2), pages 234-250, June.
    35. Ward, Scott, 1974. "Consumer Socialization," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 1(2), pages 1-14, Se.
    36. Moschis, George P, 1985. "The Role of Family Communication in Consumer Socialization of Children and Adolescents," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 11(4), pages 898-913, March.
    37. Lea, Stephen E. G. & Webley, Paul & Walker, Catherine M., 1995. "Psychological factors in consumer debt: Money management, economic socialization, and credit use," Journal of Economic Psychology, Elsevier, vol. 16(4), pages 681-701, December.
    38. 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.
    39. Moore, Roy L & Stephens, Lowndes F, 1975. "Some Communication and Demographic Determinants of Adolescent Consumer Learning," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 2(2), pages 80-92, Se.
    40. Hanley, Alice & Wilhelm, Mari S., 1992. "Compulsive buying: An exploration into self-esteem and money attitudes," Journal of Economic Psychology, Elsevier, vol. 13(1), pages 5-18, March.
    41. Cynthia Sanders & Shirley Porterfield, 2010. "The Ownership Society and Women: Exploring Female Householders’ Ability to Accumulate Assets," Journal of Family and Economic Issues, Springer, vol. 31(1), pages 90-106, March.
    42. Livingstone, Sonia M. & Lunt, Peter K., 1992. "Predicting personal debt and debt repayment: Psychological, social and economic determinants," Journal of Economic Psychology, Elsevier, vol. 13(1), pages 111-134, March.
    43. 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.
    44. Prince, Melvin, 1993. "Self-concept, money beliefs and values," Journal of Economic Psychology, Elsevier, vol. 14(1), pages 161-173, March.
    45. Walker, Catherine M., 1996. "Financial management, coping and debt in households under financial strain," Journal of Economic Psychology, Elsevier, vol. 17(6), pages 789-807, December.
    46. John, Deborah Roedder, 1999. "Consumer Socialization of Children: A Retrospective Look at Twenty-Five Years of Research," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 26(3), pages 183-213, December.
    47. Jeffrey Dew & Joseph Price, 2011. "Beyond Employment and Income: The Association Between Young Adults’ Finances and Marital Timing," Journal of Family and Economic Issues, Springer, vol. 32(3), pages 424-436, September.
    48. Carlson, Les & Grossbart, Sanford, 1988. "Parental Style and Consumer Socialization of Children," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 15(1), pages 77-94, June.
    49. Furnham, Adrian, 2001. "Parental attitudes to pocket money/allowances for children," Journal of Economic Psychology, Elsevier, vol. 22(3), pages 397-422, June.
    50. Dorit Eldar-Avidan & Muhammad Haj-Yahia & Charles Greenbaum, 2008. "Money Matters: Young Adults’ Perception of the Economic Consequences of their Parents’ Divorce," Journal of Family and Economic Issues, Springer, vol. 29(1), pages 74-85, March.
    51. Kathleen Malone & Susan Stewart & Jan Wilson & Peter Korsching, 2010. "Perceptions of Financial Well-Being among American Women in Diverse Families," Journal of Family and Economic Issues, Springer, vol. 31(1), pages 63-81, March.
    52. Kourilsky, Marilyn & Murray, Trudy, 1981. "The Use of Economic Reasoning to Increase Satisfaction with Family Decision Making," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 8(2), pages 183-188, September.
    53. Thomas Lucey, 2008. "Xiao, J. J., (ed.): Handbook of Consumer Finance Research," Journal of Family and Economic Issues, Springer, vol. 29(3), pages 545-546, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Stefano Cosma & Francesco Pattarin, 2012. "Attitudes, personality factors and household debt decisions: A study of consumer credit," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 12021, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    2. Stefano Cosma & Francesco Pattarin, 2012. "Attitudes, personality factors and household debt decisions: A study of consumer credit," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 0031, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    3. Patti Fisher, 2013. "Is There Evidence of Loss Aversion in Saving Behaviors in Spain?," Journal of Family and Economic Issues, Springer, vol. 34(1), pages 41-51, March.
    4. Margaret Sherraden & Lissa Johnson & Baorong Guo & William Elliott, 2011. "Financial Capability in Children: Effects of Participation in a School-Based Financial Education and Savings Program," Journal of Family and Economic Issues, Springer, vol. 32(3), pages 385-399, September.
    5. Gasiorowska, Agata, 2008. "Różnice indywidualne jako determinanty postaw wobec pieniędzy [Individual differences as determinants of money attitudes]," MPRA Paper 42684, University Library of Munich, Germany.
    6. Michael Gutter & Zeynep Copur & Selena Garrison, 2009. "Which Students Are More Likely to Experience Financial Socialization Opportunities? Exploring the Relationship between Financial Behaviors and Financial Well-Being of College Students," NFI Working Papers 2009-WP-07, Indiana State University, Scott College of Business, Networks Financial Institute.
    7. Cagri Yalkin & Richard Rosenbaum-Elliott, 2014. "Talking Fashion in Female Friendship Groups: Negotiating the Necessary Marketplace Skills and Knowledge," Journal of Consumer Policy, Springer, vol. 37(2), pages 301-331, June.
    8. 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.
    9. Otto, Annette, 2013. "Saving in childhood and adolescence: Insights from developmental psychology," Economics of Education Review, Elsevier, vol. 33(C), pages 8-18.
    10. Eric V. Bindah & Nor Othman, 2013. "Refining and Validating a Family Communication Measure Using Exploratory and Confirmatory Factor Analysis," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(1), pages 168-186, January.
    11. Jariwala Harsha Vijaykumar, 2022. "The Association of Financial Socialization with Financial Self-Efficacy and Autonomy: A Study of Young Students in India," Journal of Family and Economic Issues, Springer, vol. 43(2), pages 397-414, June.
    12. Annette Otto & Paul Webley, 2016. "Saving, Selling, Earning, and Negotiating: How Adolescents Acquire Monetary Lump Sums and Who Considers Saving," Journal of Consumer Affairs, Wiley Blackwell, vol. 50(2), pages 342-371, July.
    13. Stone, Brice & Maury, Rosalinda Vasquez, 2006. "Indicators of personal financial debt using a multi-disciplinary behavioral model," Journal of Economic Psychology, Elsevier, vol. 27(4), pages 543-556, August.
    14. M. Joseph Sirgy, 2018. "The Psychology of Material Well-Being," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 13(2), pages 273-301, June.
    15. Norvilitis, Jill M. & MacLean, Michael G., 2010. "The role of parents in college students' financial behaviors and attitudes," Journal of Economic Psychology, Elsevier, vol. 31(1), pages 55-63, February.
    16. Zeynep ÇOPUR & Michael S. GUTTER, 2011. "Financial Socialization of College Students: A Comparison of University Students in Ankara and Florida," Sosyoekonomi Journal, Sosyoekonomi Society, issue 16(16).
    17. Bernadette Kamleitner & Bianca Hornung & Erich Kirchler, 2010. "Over-indebtedness and the interplay of factual and mental money management: An interview study," Working Papers 34, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
    18. Suzanne Bartholomae & Jonathan J. Fox, 2021. "A Decade Review of Research on College Student Financial Behavior and Well-Being," Journal of Family and Economic Issues, Springer, vol. 42(1), pages 154-177, July.
    19. Mewse, Avril J. & Lea, Stephen E.G. & Wrapson, Wendy, 2010. "First steps out of debt: Attitudes and social identity as predictors of contact by debtors with creditors," Journal of Economic Psychology, Elsevier, vol. 31(6), pages 1021-1034, December.
    20. Helen Duh & Sarah Benmoyal-Bouzaglo & George Moschis & Lilia Smaoui, 2015. "Examination of Young Adults’ Materialism in France and South Africa Using Two Life-Course Theoretical Perspectives," Journal of Family and Economic Issues, Springer, vol. 36(2), pages 251-262, June.

    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:kap:jfamec:v:32:y:2011:i:4:p:644-667. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.