Faculty Sponsor: Valerie L. Nazzaro
Live Poster Session: Zoom Link
Abstract: Scientific literature on personal finance has highlighted young Americans’ increasing finance-related stress, which has also coincided with lower rates of financial literacy. Conceptual models and research results show a positive association between financial literacy and financial skill—a key precursor for financial well-being. Young Americans often learn about personal finance through their families, a process known as “family financial socialization.” This paper investigates the relationship between family financial socialization and financial skill and seeks to understand how such a relationship may look different for young Americans compared to previous ones, as well as other potential moderating factors.
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