Links between family poverty and the financial behaviors of adolescents: Parental roles

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5 Citations (Scopus)

Abstract

The financial behaviors of adolescents, especially those from economically disadvantaged families, is critical and has long-term effects. This study tested and compared two conceptual models that connect a family’s material hardship to adolescents’ financial behaviors by using a convenience sample of adolescents in Hong Kong. The main purpose of this study was to offer effective entry points for parents and family practitioners to implement interventions for improving the financial behaviors of adolescents, particularly those from economically disadvantaged families. The model of financial socialization demonstrates that material hardship was associated with financial behaviors through financial self-beliefs, direct parental instruction, and the adoption of parental financial role models. The model of general poverty links material hardship to financial behaviors through parental investment, parental stress, financial literacy, and financial self-beliefs. Of the two models, the model of parental financial socialization offers more effective entry points for family practitioners to implement interventions. Copyright © 2018 Springer Nature B.V.

Original languageEnglish
Pages (from-to)1259-1273
JournalChild Indicators Research
Volume12
Early online dateJul 2018
DOIs
Publication statusPublished - Aug 2019

Citation

Zhu, A. Y. F. (2019). Links between family poverty and the financial behaviors of adolescents: Parental roles. Child Indicators Research, 12, 1259-1273. https://doi.org/10.1007/s12187-018-9588-6

Keywords

  • Adolescents
  • Financial behaviors
  • Financial literacy
  • Material hardship
  • Parental financial socialization
  • Parental poverty

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