Parental financial socialization on emerging adulthood: A dual perspective study

Rasyidi Faiz Akbar; Achmad Kautsar; Nunik Dwi Kusumawati; Ina Uswatun Nihaya; Syaifurrizal Wijaya Putra; Bima Yatna Anugerah Ramadhani; Fiona Niska Dinda Nadia

doi:10.59889/ijembis.v4i2.428

Authors

Rasyidi Faiz Akbar Universitas Negeri Surabaya
Achmad Kautsar Universitas Negeri Surabaya
Nunik Dwi Kusumawati Universitas Negeri Surabaya
Ina Uswatun Nihaya
Syaifurrizal Wijaya Putra Universitas Negeri Surabaya
Bima Yatna Anugerah Ramadhani Universitas Negeri Surabaya
Fiona Niska Dinda Nadia Universitas Airlangga

DOI:

https://doi.org/10.59889/ijembis.v4i2.428

Keywords:

Social support, Financial Behavior, Direct Teaching, Parental, Teaching, Emerging Adulthood

Abstract

This study investigates the impact of parental financial socialization on the financial behaviors and attitudes of emerging adults, considering both parental and child perspectives. It examines direct teaching, role modeling, and the quality of financial relationships in shaping financial outcomes. Using a quantitative purposive sampling method, data were collected from 524 participants through structured questionnaires assessing parental financial teaching, attitudes, and behaviors. Structural equation modeling was used to analyze these relationships. Findings reveal that parental direct teaching and role modeling significantly influence emerging adults' financial attitudes and behaviors. A positive financial relationship between parents and children enhances financial socialization practices. Emerging adults reporting higher levels of parental guidance and role modeling exhibit better financial behaviors and more responsible attitudes. The study also identifies significant mediating effects of financial attitudes on the relationship between parental socialization practices and behaviors. This research highlights the dual influence of parental teaching and role modeling on young adults' financial outcomes and underscores the importance of supportive financial relationships. It offers insights into the mechanisms through which parental behaviors shape financial competence, providing a foundation for targeted financial education programs and policies.

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