Extended Families: Support, Socialization, and Stress

Abstract

Modern American families take many shapes, and financial educators must meet the needs of diverse family structures, including extended families. Extended family households have increased since the recent recession, and additional family members can be both a source of support and a burden to the household. This article reviews the literature on extended and shared households and their impact on individuals’ financial behaviors. The article explains the types of extended and shared households, informal and formal support relationships, family financial socialization, and subgroup idiosyncrasies. The article concludes with implications and suggestions for financial educators and researchers.

Latinas’ internalization of U.S. beauty ideals as a moderator of the relations between appearance-related messages from family members and Latinas’ depressive symptoms

“…Yet, researchers have not explored the role extended family may have on Latinas' mental health. It may be beneficial for future scholars to examine the influence of extended family's appearance-related messages because extended family also socialize young women and may share messages about beauty through interactions (Kim et al, 2016). Family discourse theory could be utilized to explain and examine the role of extended family on Latinas' mental health outcomes.…”

Financial Interdependence: A Social Perspective

“…They should be familiar with the range of practices of FI if studying it from a particular cultural perspective, but also understand how the modern discourse of financial independence may be shaping FI practice. Discrepancies between definitions of family (e.g., the household versus the extended family) can influence what is reported and, importantly, what is not [80]. For example, asking how much money is spent on food or one's ability to access food may not capture the extent to which they are providing food for, or are being supported by, others.…”

Estudio de los predictores del comportamiento de ahorro en estudiantes universitarios ecuatorianos

“…Desde una perspectiva sociológica, el comportamiento de ahorro se ha vinculado con factores como la socialización financiera familiar y la experiencia con el manejo de dinero durante la infancia. En cuanto a la socialización financiera, esta se refiere al aprendizaje informal sobre asuntos y prácticas financieras que tiene lugar a través de las experiencias de la vida cotidiana (Ameliawati & Setiyani, 2018;Kim, Spangler & Gutter, 2016). Al respecto, los padres actúan como los principales agentes de socialización financiera en las primeras etapas de desarrollo de las personas, generando oportunidades para que los hijos puedan enrolarse, desde la niñez, en conversaciones sobre actividades y tópicos relativos a las finanzas del hogar (Copur & Gutter, 2019).…”

“…Al respecto, los padres actúan como los principales agentes de socialización financiera en las primeras etapas de desarrollo de las personas, generando oportunidades para que los hijos puedan enrolarse, desde la niñez, en conversaciones sobre actividades y tópicos relativos a las finanzas del hogar (Copur & Gutter, 2019). Dado el aprendizaje financiero que posibilita, la socialización financiera familiar favorece la construcción de habilidades financieras, entre ellas, hábitos de ahorro adecuados (Kim et al, 2016;Ningsih, Widiyanto & Sudarma, 2018). Estudios empíricos apuntan a que la socialización financiera en la niñez influye positivamente en el comportamiento financiero a futuro, en etapas como la juventud y la adultez, tanto en lo que respecta al ahorro como a la planificación de largo plazo (Afsar, Chaudhary, Iqbal & Aamir, 2018;Cho, Gutter, Kim & Mauldin, 2012;Zhao & Zhang, 2020).…”