Financial Socialization of College Students: Domain-General and Domain-Specific Perspectives

The financial attitude and behavior of young adults is influenced by parents’ financial socialization (e.g., the communication pattern around finances in the family). This study examined the associations among parents’ financial behavior, parent-child communication patterns with regard to finances, and young adults’ financial attitudes and behavior. The findings indicate that parent financial behavior and family communication patterns have positive and negative implications on young adults’ financial attitudes and behavior.