Does Parental Financial Socialization for Emerging Adults Matter? The Case of Austrian and Slovene First-Year University Students

20Citations
Citations of this article
126Readers
Mendeley users who have this article in their library.

This article is free to access.

Abstract

The study tested a model of first-year university students’ financial socialization focusing on parents as financial socialization agents and students’ present financial outcomes. Results from 395 Austrians (70% females) and 412 Slovenes (55% females) revealed significant pathways from recollected socialization experiences to students’ self-perceived financial learning outcomes (adopting parental role modeling and financial knowledge) and financial behavior control. Financial knowledge and behavioral control partly mediated the effect of prior socialization experiences on students’ financial behavior, financial relationship with parents, and financial satisfaction. Among country-specific pathways, adopting parental role modeling indirectly influenced financial outcomes in the Slovene students, whereas for the Austrian students, it was directly associated with better financial relationships with parents. Our findings on the pathways to healthy financial outcomes provide important suggestions to parents and emerging adult students.

Cite

CITATION STYLE

APA

Sirsch, U., Zupančič, M., Poredoš, M., Levec, K., & Friedlmeier, M. (2020). Does Parental Financial Socialization for Emerging Adults Matter? The Case of Austrian and Slovene First-Year University Students. Emerging Adulthood, 8(6), 509–520. https://doi.org/10.1177/2167696819882178

Register to see more suggestions

Mendeley helps you to discover research relevant for your work.

Already have an account?

Save time finding and organizing research with Mendeley

Sign up for free