Parent Financial Socialization and Financial Outcomes
A Systematic Review and Meta‐Analysis
Bibliographic Data
| ID | 12927136 |
|---|---|
| Authors | Ashley B Lebaron-Black (0000-0002-4980-2659, Brigham Young University, corresponding author), Nathan D Leonhardt (0000-0002-9253-117X, Brigham Young University), Sofia C Suxo‐Sanchez (University of Arizona), Elise Rich (Brigham Young University), Fangyuan M Broadbent (0009-0005-6470-5768, Brigham Young University) |
| Year | 2025 |
| Volume | 18 |
| Issue | 1 |
| Pages | 230-250 |
| Publication date | 2025-12-17 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Family Theory & Review (JOURNAL) |
| Journal identifiers | ISSN: 1756-2570 • E-ISSN: 1756-2589 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/jftr.70037 |
| OpenAlex | W7115906161 |
| Language | EN |
| References cited | 76 |
We present a meta‐analysis of the associations between parent financial socialization during childhood/adolescence and financial outcomes in emerging adulthood, synthesizing results from 39 studies presented in 36 articles. The articles were identified via a systematic review. Parent financial socialization was positively associated with financial outcomes generally and with financial attitudes, financial behavior, financial knowledge, and financial wellbeing specifically, but not with financial capabilities. The association with financial outcomes generally depended on study location, sample gender, sample parental income, sample parental education level, and sample socioeconomic status (SES). To improve emerging adults' financial wellbeing and other financial outcomes, practitioners and policymakers should support parents in providing high‐quality financial socialization to their children and adolescents. Parent financial socialization may be especially important for lower‐SES children/adolescents (based on overall SES) but may not be as effective for those whose parents do not have sufficient education (based solely on parents' education level)
Financial distress · Financial institution · Financial literacy · Financial plan · Sample (material · Socialization · Socioeconomic status · Aging and Gerontology Research · Financial Literacy, Pension, Retirement Analysis · Intergenerational Family Dynamics and Caregiving
Cross-Sectional versus Longitudinal Survey Research
Pathways to life success
Frameworks for developing impactful systematic literature reviews and theory building
The PRISMA 2020 statement
How Financial Socialization Messages Relate to Financial Management, Optimism and Stress
Talk is cheap
Parental financial socialization, financial behaviors, and well‐being among Hong Kong young adults amid Covid ‐19
Pennies and power
Becoming Financially Self-Sufficient
Critical Race Theory, Fourth Edition
Implicit Family Financial Socialization and Emerging Adults’ Financial Well-Being
Finances and Fate
Healthy Financial Behaviors and Financial Satisfaction in Emerging Adulthood
Does Parental Financial Socialization for Emerging Adults Matter? The Case of Austrian and Slovene First-Year University Students
Linking Family Financial Socialization With Its Proximal and Distal Outcomes
Engaging in literature review, synthesis, and meta‐analysis
The role of parents in college students’ financial behaviors and attitudes
Parental Financial Socialization
Talk is (still) cheap
Actions for solutions
From Piggy Banks to Significant Others
Practice Makes Perfect
| Citation velocity | historical |
|---|---|
| Highly cited | No |