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Sheraton Uptown, Albuquerque, NM, USA
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Saturday, April 22 • 10:30am - 12:00pm
A1D-Multi-Generational Modeling of Money Management: Financial Practices Modeled by Parents

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Millennials find themselves ill-prepared to meet current financial challenges. Research has shown that the financial knowledge and principles that children retain as they transition to adulthood mainly come from their parents. However, most financial education research has focused on outside sources like public schools. The research that has been conducted on parental education has not yet identified specific principles and practices that are important for parents to model. The purpose of this paper is to begin this exploration. This qualitative, multigenerational study explored what Millennials, their parents, and grandparents remember their parents modeling as well as those that parents and grandparents report modeling to their children. Thematic coding of the interviews revealed three core subthemes: “Acquiring Money Wisely,” “Managing Money Wisely,” and “Spending Money Wisely.”

Speakers & Presenters
avatar for Edward Jeffrey Hill

Edward Jeffrey Hill

Professor, Brigham Young University
How parents effectively teach their children about finances.
avatar for Ashley LeBaron

Ashley LeBaron

Master's Student, Brigham Young University
LM

Loren Marks

Professor, Brigham Young University
CR

Christina Rosa

Research Assistant, Brigham Young University


Saturday April 22, 2017 10:30am - 12:00pm
Ivory

Attendees (3)