Influence of family financial socialization on academic success in college
Explicit parent–child financial socialization is one way that parents may help children feel less stress in college and increase their academic performance. To test this assumption, we used family financial socialization theory to inform multivariate analysis of variance (MANOVA) and structural equa...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Springer Publishing Company
2020
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| Online Access: | http://psasir.upm.edu.my/id/eprint/89365/ http://psasir.upm.edu.my/id/eprint/89365/1/COLLEGE.pdf |
| _version_ | 1848860836788961280 |
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| author | Sabri, Mohamad Fazli Gudmunson, Clinton G. Griesdorn, Timothy S. Dean, Lukas R. |
| author_facet | Sabri, Mohamad Fazli Gudmunson, Clinton G. Griesdorn, Timothy S. Dean, Lukas R. |
| author_sort | Sabri, Mohamad Fazli |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | Explicit parent–child financial socialization is one way that parents may help children feel less stress in college and increase their academic performance. To test this assumption, we used family financial socialization theory to inform multivariate analysis of variance (MANOVA) and structural equation models (SEM). The results largely support the theory. Participants were 752 college students from a U.S. university. Specific findings indicate that students from more affluent families were more often taught to budget. Parent–child teaching/training was strongly associated with felt parental–financial influence and fewer worrisome academic
behaviors because of economic pressure. Students who felt greater parent–financial influence and experienced fewer effects of economic pressure, achieved higher college grade point averages (GPAs). An implication of this study is the importance of strengthening support for financial learning in families. |
| first_indexed | 2025-11-15T12:51:34Z |
| format | Article |
| id | upm-89365 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T12:51:34Z |
| publishDate | 2020 |
| publisher | Springer Publishing Company |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-893652021-09-20T22:25:49Z http://psasir.upm.edu.my/id/eprint/89365/ Influence of family financial socialization on academic success in college Sabri, Mohamad Fazli Gudmunson, Clinton G. Griesdorn, Timothy S. Dean, Lukas R. Explicit parent–child financial socialization is one way that parents may help children feel less stress in college and increase their academic performance. To test this assumption, we used family financial socialization theory to inform multivariate analysis of variance (MANOVA) and structural equation models (SEM). The results largely support the theory. Participants were 752 college students from a U.S. university. Specific findings indicate that students from more affluent families were more often taught to budget. Parent–child teaching/training was strongly associated with felt parental–financial influence and fewer worrisome academic behaviors because of economic pressure. Students who felt greater parent–financial influence and experienced fewer effects of economic pressure, achieved higher college grade point averages (GPAs). An implication of this study is the importance of strengthening support for financial learning in families. Springer Publishing Company 2020 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/89365/1/COLLEGE.pdf Sabri, Mohamad Fazli and Gudmunson, Clinton G. and Griesdorn, Timothy S. and Dean, Lukas R. (2020) Influence of family financial socialization on academic success in college. Journal of Financial Counseling and Planning, 31 (2). 267 - 283. ISSN 1052-3073; ESSN: 1947-7910 https://connect.springerpub.com/content/sgrjfcp/early/2020/03/27/jfcp-18-00052 10.1891/JFCP-18-00052 |
| spellingShingle | Sabri, Mohamad Fazli Gudmunson, Clinton G. Griesdorn, Timothy S. Dean, Lukas R. Influence of family financial socialization on academic success in college |
| title | Influence of family financial socialization on academic success in college |
| title_full | Influence of family financial socialization on academic success in college |
| title_fullStr | Influence of family financial socialization on academic success in college |
| title_full_unstemmed | Influence of family financial socialization on academic success in college |
| title_short | Influence of family financial socialization on academic success in college |
| title_sort | influence of family financial socialization on academic success in college |
| url | http://psasir.upm.edu.my/id/eprint/89365/ http://psasir.upm.edu.my/id/eprint/89365/ http://psasir.upm.edu.my/id/eprint/89365/ http://psasir.upm.edu.my/id/eprint/89365/1/COLLEGE.pdf |