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Intergenerational model of financial satisfaction and parent-child financial relationship
ID
Zupančič, Maja
(
Author
),
ID
Poredoš, Mojca
(
Author
),
ID
Lep, Žan
(
Author
)
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MD5: 14026F6C3A33C5DB3F29295D86607212
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https://journals.sagepub.com/doi/10.1177/02654075231153352
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Abstract
The study examined an intergenerational model of financial socialization and its outcomes that connects parents’ and their children’s self-perceived financial learning outcomes to satisfaction with financial management and parent-child financial relationships. The conceptual model was based on models of financial socialization processes contributing to healthy financial development of emerging adult students (Shim et al., 2010; Sirsch et al., 2020), but extended the links across two generations within the same family. Considering perspectives of both generations in a single model, it was tested in a sample of 482 pairs of Slovenian first-year university students and one of their parents. Structural equation modeling revealed that parental healthy financial learning outcomes (knowledge, behavioral control, behavior) shaped their children’s positive financial development (financial learning outcomes and satisfaction) and promoted the parents’ satisfaction with financial management. In turn, both the students’ and the parents’ financial management satisfaction positively predicted a joint measure of satisfaction with parent-child financial relationship. Similar links of financial learning outcomes to satisfaction with financial management and parent-child financial relationships were observed for both generations, even though parents and their children were financially socialized under different socioeconomic conditions.
Language:
English
Keywords:
financial relationship
,
parent-child
,
financial satisfaction
,
intergenerational model
,
financial socialization
,
financial management
,
students
,
parents
,
financial functioning
,
financial management satisfaction
,
parent-child financial relationships
,
intergenerational links
Work type:
Article
Typology:
1.01 - Original Scientific Article
Organization:
FF - Faculty of Arts
PEF - Faculty of Education
Publication status:
Published
Publication version:
Version of Record
Year:
2023
Number of pages:
Str. 2568–2591
Numbering:
Vol. 40, iss. 8
PID:
20.500.12556/RUL-148263
UDC:
33: 347.61
ISSN on article:
1460-3608
DOI:
10.1177/02654075231153352
COBISS.SI-ID:
139627523
Publication date in RUL:
08.08.2023
Views:
930
Downloads:
281
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Record is a part of a journal
Title:
Journal of social and personal relationships
Publisher:
SAGE, International Association for Relationship Research
ISSN:
1460-3608
COBISS.SI-ID:
518297113
Licences
License:
CC BY-NC 4.0, Creative Commons Attribution-NonCommercial 4.0 International
Link:
http://creativecommons.org/licenses/by-nc/4.0/
Description:
A creative commons license that bans commercial use, but the users don’t have to license their derivative works on the same terms.
Secondary language
Language:
Slovenian
Keywords:
finance
,
finančno zadovoljstvo
,
finančni odnosi
,
starši – otroci
,
medgeneracijski model
,
finančna socializacija
,
menedžment
Projects
Funder:
ARRS - Slovenian Research Agency
Project number:
P5-0062
Name:
Uporabna razvojna psihologija
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