Abstract
Financial independence usually begins when someone starts attending university because at that time parents usually give authority to their children to manage their own finances. Financial literacy is one of the competences which people really need in current times to make various financial decisions. Parents become very critical agents in the development of children's financial literacy level and it is proven that there is a relationship between financial literacy and parental financial socialization. According to this study the factors that influence the success of parental socialization in increasing children's financial literacy are parents' experience, role modeling, financial communication, money allowance, and financial monitoring.
| Original language | English |
|---|---|
| Pages (from-to) | 12-20 |
| Number of pages | 8 |
| Journal | Asia Pacific Journal of Social Science Research |
| Volume | 5 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 3 Apr 2020 |
| Externally published | Yes |
Bibliographical note
Asia Pacific Journal of Social Science Research (APJSSR) allows the author(s) to hold the copyright without restrictions and will retain publishing rights without restrictions. All the research works published on this journal are meeting the Open Access Publishing requirements and can be freely accessed, shared, modified, distributed and used in educational, commercial and non-commercial purposes. CC BY-SAKeywords
- financial literacy
- financial socialization
- conceptual study
- parents
- university students