Family Financial Socialisation and its Impact on Financial Confidence, Intentions, and Behaviours among New Zealand Adolescents
Bibliographic Data
| ID | 21636044 |
|---|---|
| Authors | Valerie A Sotardi (0000-0002-2720-6362, University of Canterbury), Steve Agnew (University of Canterbury, corresponding author) |
| Year | 2025 |
| Volume | 46 |
| Issue | 1 |
| Pages | 246-258 |
| Publication date | 2025-03-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Family and Economic Issues (JOURNAL) |
| Journal identifiers | ISSN: 1058-0476 • E-ISSN: 1573-3475 |
| Publisher | Springer Science and Business Media LLC (PUBLISHER) |
| DOI | 10.1007/s10834-024-09990-8 |
| OpenAlex | W4402942423 |
| Language | EN |
| Citations received | 4 |
| References cited | 36 |
This study investigated the impact of family financial socialisation on the financial perceptions and behaviours of adolescents. Drawing from social learning theory, Gudmunson and Danes’ model of family financial socialisation, and the theory of planned behaviour, we examined the influence of family affluence and family financial openness on adolescents’ financial confidence, intentions, and behaviours. The research also explores gender differences and the distinct effects of family socialisation in banking and budgeting contexts. With a large sample of adolescents in New Zealand ( n = 5,370), results using structural equation modelling reveal that family affluence corresponds with a higher perception of family financial openness, which influences their confidence in specific financial domains such as banking and budgeting. Our results also highlight a gap between confidence, intentions, and action in financial behaviours, with gender differences also impacting this dynamic. The findings offer insights for parents, policymakers, and financial institutions, emphasising the importance of family financial socialisation in fostering responsible financial practices among young people
Business · Financial Literacy, Pension, Retirement Analysis · Gender, Labor, and Family Dynamics · Intergenerational Family Dynamics and Caregiving · Psychology · Finance
Family Financial Socialization
Financial Literacy of Young Adults
Planning and Financial Literacy
Strong Evidence for Gender Differences in Risk Taking
Financial literacy around the world
Cutoff criteria for fit indexes in covariance structure analysis
The theory of planned behavior
The theory of planned behaviour
Thanks coefficient alpha, we’ll take it from here.
Social cognitive theory of gender development and differentiation.
Financial Socialization
Emerging adults’ financial conversations with parents as mediators of family communication patterns and financial Independence
Validating Research Results when Cronbach'S Alpha is Below .70
Can We Talk About Money? Financial Socialization Through Parent–Child Financial Discussion
Does gender matter for the use of learning opportunities? Potential explanation for the gender gap in financial literacy
A Study of Economic Socialisation
Gender differences in financial risk tolerance
The Acquisition of Family Financial Roles and Responsibilities
Researching health inequalities in adolescents
Consumer Socialization
The Lengthening Transition to Adulthood
| Unique citing works | 4 |
|---|---|
| Citations per year | 4 |
| Citation span | 2025 - 2026 (2) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 4 |