Live Poster Session: Zoom Link
Abstract: With the gradual privatization of the financial service sector, the responsibility of personal finance is falling increasingly on the shoulders of individuals. Alongside the rise of on-hand financial technology, millennials find themselves ever susceptible to impulsive consumer behavior and mounting indebtedness. In recent years, researchers have begun to examine to what extent parental involvement in childhood financial discipline plays a significant role in shaping an individual’s future financial health. While a few studies have corroborated the positive relationship between parental involvement and future financial wellness, it is unknown whether the cause of poor financial performance among millennials can be attributed to decreasing levels of parental instruction.
The goals of the present analysis include [1] establishing the relationship between parental instruction and financial wellbeing; [2] determining whether or not the relationship between parental instruction and financial wellbeing is affected by generational status; and [3] identifying whether parental instruction levels have changed across four generations in the United States.
QAC201-Final-Poster