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The Acquisition of Family Financial Roles and Responsibilities
Author(s) -
Clarke Maribeth C.,
Heaton Martie B.,
Israelsen Craig L.,
Eggett Dennis L.
Publication year - 2005
Publication title -
family and consumer sciences research journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.372
H-Index - 31
eISSN - 1552-3934
pISSN - 1077-727X
DOI - 10.1177/1077727x04274117
Subject(s) - business , finance
This study was designed to assess the modeling and teaching of adult financial roles to children and adolescents and the implementation of those roles in early adulthood. The study also assessed the impact of various demographic variables on financial role transfer. Young adults felt only adequately taught and moderately prepared to perform financial tasks. Financial role transfer is taking place most often from parents in the home, rather than sources outside the home. Financial tasks needed in teen years are modeled and taught more frequently and thoroughly in the home than the financial tasks needed in emerging adulthood. Fathers modeled financial tasks more frequently than mothers. When mothers modeled financial tasks and adolescents practiced those tasks, frequency of performance as young adults increased and they felt more financially prepared. Frequency of performance is also enhanced when financial tasks are considered the responsibility of the entire family while growing up.