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Implicit and Explicit Childhood Financial Socialization: Protective Factors for Marital Financial Disagreements

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Listed:
  • Ashley Larsen Gibby

    (Brigham Young University)

  • Logan Pettit

    (Brigham Young University)

  • E. Jeffrey Hill

    (Brigham Young University)

  • Jeremy Yorgason

    (Brigham Young University)

  • Erin Kramer Holmes

    (Brigham Young University)

Abstract

Research to date has shown that childhood financial socialization is significantly associated with the financial attitudes and behaviors of children, youth, and adults. However, the extent to which childhood financial socialization is connected to marital outcomes remains largely unknown. Using data from 1,473 newly married couples who participated in a nationally representative study, we examined the relationship between childhood financial socialization and reported marital financial disagreements by utilizing actor-partner interdependence structural equation models (APIM SEM). Our results suggest that implicit (i.e. parental modeling) and explicit (i.e. direct conversations or experiential learning) financial socialization significantly and negatively relate to marital financial disagreements for both men and women. Further, having a spouse who was explicitly taught about finances is significantly and negatively associated with financial disagreements, independently of one’s own explicit financial socialization. These results highlight the importance of considering marital outcomes in the financial socialization literature and suggest that childhood financial socialization is a protective factor for marital financial disagreements.

Suggested Citation

  • Ashley Larsen Gibby & Logan Pettit & E. Jeffrey Hill & Jeremy Yorgason & Erin Kramer Holmes, 2021. "Implicit and Explicit Childhood Financial Socialization: Protective Factors for Marital Financial Disagreements," Journal of Family and Economic Issues, Springer, vol. 42(2), pages 225-236, June.
    • Handle: RePEc:kap:jfamec:v:42:y:2021:i:2:d:10.1007_s10834-020-09695-8
    DOI: 10.1007/s10834-020-09695-8
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    References listed on IDEAS

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    Cited by:

    1. Steve Agnew & Patrick Roger & Tristan Roger, 2024. "Adolescent Financial Literacy: Viewing Peers as Good Financial Role Models," Working Papers in Economics 24/14, University of Canterbury, Department of Economics and Finance.

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