Keywords
financial socialization, financial education, parenting, family finance, millennials, emerging adults, qualitative
Abstract
Millennials are struggling to meet current financial challenges. As we strive to improve financial capability in future generations, it is important that we look to the primary source of financial education: parents. This qualitative, multigenerational study explored what Millennials and their parents and grandparents (N = 153) wish they had been taught about finances by their parents, as well as what parents and grandparents wish they had taught their children. Thematic content coding of the interviews revealed three core “I Wish” themes: “Practical Knowledge,” “Financial Stewardship,” and “Open Communication.” These findings can assist researchers, family life educators, financial educators, parents, and future parents to enhance the financial education provided by parents in the home.
Original Publication Citation
*LeBaron, A. B., Hill, E. J., *Rosa, C. M., *Spencer, T. J., Marks, L.D., & *Powell, J. T. (2017). I wish: Multi-generational reflections on parents teaching children about money. Journal of Family and Economic Issues.
BYU ScholarsArchive Citation
LeBaron, Ashley B.; Hill, E. Jeffrey; Rosa, Christina M.; Spencer, Travis J.; Marks, Loren D.; and Powell, Joshua T., "I Wish: Multigenerational Regrets and Reflections on Teaching Children About Money" (2017). Faculty Publications. 4853.
https://scholarsarchive.byu.edu/facpub/4853
Document Type
Peer-Reviewed Article
Publication Date
2017-11-03
Permanent URL
http://hdl.lib.byu.edu/1877/7657
Publisher
Journal of Family and Economic Issues
Language
English
College
Family, Home, and Social Sciences
Department
Family Life
Copyright Status
© Springer Science+Business Media, LLC 2017
Copyright Use Information
http://lib.byu.edu/about/copyright/