The Role of Parental Involvement on Adolescents' Money Management

Based on data from 2,722 adolescents aged 14–18 years in Britain, this study explored whether parental involvement can be associated with adolescents' money management. Multiple regression analysis showed that low parental involvement contributed significantly and independently to poor money management. Furthermore, the association between parental involvement and money management was the same for sons and daughters. Boys and adolescents from lower socio-economic backgrounds tended to report better money management. The association between parental involvement and money management was weaker when offspring experienced family disruption than when offspring grew up in continuously intact two-parent families.