“Four Bright Coins Shining at Me”: Financial Education in Childhood, Financial Confidence in Adulthood

Sansone, Dario; Rossi, Mariacristina; Fornero, Elsa

doi:10.1111/joca.12207

Cited by 27 publications

(21 citation statements)

References 63 publications

(70 reference statements)

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“…This study is crucial in the domain of the financial well‐being of young adults (Brüggen et al, 2017; Drever et al, 2015; Gutter & Copur, 2011; Marchant & Harrison, 2019; Norvilitis & MacLean, 2010; Sansone, Rossi & Fornero, 2018; Shim et al, 2009). Because a substantial number of students report low financial well‐being, educational institutions, financial institutions and policymakers must increasingly focus on young adults.…”

Section: Introductionmentioning

confidence: 99%

Catch them young: Impact of financial socialization, financial literacy and attitude towards money on financial well‐being of young adults

Utkarsh

Pandey

Ashta

et al. 2020

Int J Consumer Studies

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Financial well-being has recently gained prominence in the academic and public policy domains. A report by the Consumer Financial Protection Bureau (CFPB, 2015) emphasized that financial well-being must be the objective of financial literacy (Netemeyer, Warmath, Fernandes, & Lynch, 2017). The significance of financial well-being is not limited to personal financial success; it also promotes the work productivity and overall well-being of individuals; and the development of a healthy economy, overall (Diener, 2000; Netemeyer et al., 2017). Conversely, low levels of financial well-being create a vicious cycle of stress, thus, further hampering personal and societal growth

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Section: Introductionmentioning

confidence: 99%

Catch them young: Impact of financial socialization, financial literacy and attitude towards money on financial well‐being of young adults

Utkarsh

Pandey

Ashta

et al. 2020

Int J Consumer Studies

View full text Add to dashboard Cite

show abstract

“…Previous studies have shown that individuals start acquiring financial literacy at an early age (i.e., at childhood) within a financial socialisation process [26,[28][29][30][31], with a special role in the process played by parents [26]. Therefore, we expected that, generally, individuals more exposed to parental financial socialisation should report higher financial learning outcomes, that is, debt knowledge levels, debt skills levels, and financial confidence (i.e., subjective debt knowledge).…”

Section: Previous Empirical Evidence On Indirect Effectsmentioning

confidence: 96%

“…Financial literacy is considered a prerequisite for citizens' economic security [27]. On the other hand, some studies have shown that financial literacy is modelled during childhood within a financial socialisation process [26,[28][29][30][31], with a special role played by parents [26]. Hence, in light of the empirical research carried out so far, a hierarchical process seems to exist, leading from childhood experiences through adulthood financial literacy levels and financial behaviours to satisfaction and well-being states.…”

Section: Introductionmentioning

confidence: 99%

Sustainable Debt Behaviour and Well-Being of Young Adults: The Role of Parental Financial Socialisation Process

Cwynar

Baryła-Matejczuk

et al. 2019

Sustainability

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Literature shows that parental financial socialisation plays an important role in attaining financial literacy as well as in shaping sustainable financial behaviours and that both translate into increased well-being indicators and financial security on micro- and macroeconomic levels. However, debt literacy and debt behaviour seem to be unique. Very little is known about the childhood financial socialisation process through which adults’ sustainable debt behaviour is shaped and how debt behaviour may affect well-being. This study tests a hierarchical model of childhood financial socialisation consisting of five levels: the anticipatory parental socialisation, and later life financial learning outcomes (particularly, debt literacy levels), financial attitudes, debt behaviour, and well-being. Using data collected from a purposive sample of young adult Poles (N = 600) during the period from 10 to 13 November 2018 and employing structural equation modelling, we have found evidence confirming the hierarchical relationship of literacy–attitude–behaviour. Our data do not support, however, either the hypothesised positive relationship between parental socialisation and objectively measured debt literacy or the assumed relationships between debt behaviour and well-being indicators. We posit that country-specific factors related to generational differences entailed by system-wide transition and the specificity of debt behaviour, respectively, are key for explaining these empirical deviations from the assumed conceptual framework. Finally, we found no significant differences between the models estimated separately for maternally conditioned and paternally conditioned respondents.

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“…1 From a paediatric-research viewpoint, pocket-money is considered a minor variable to be assessed when examining the broader picture of children's negative health habits.…”

Section: Gp169 the Pocket-money Studymentioning

confidence: 99%

GP169 The pocket-money study

et al. 2019

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“Four Bright Coins Shining at Me”: Financial Education in Childhood, Financial Confidence in Adulthood

Cited by 27 publications

References 63 publications

Catch them young: Impact of financial socialization, financial literacy and attitude towards money on financial well‐being of young adults

Catch them young: Impact of financial socialization, financial literacy and attitude towards money on financial well‐being of young adults

Sustainable Debt Behaviour and Well-Being of Young Adults: The Role of Parental Financial Socialisation Process

GP169 The pocket-money study

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