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“It’s All About Security to Meâ€

Author

Listed:
  • Leah Hamilton
  • Marcia Shobe
  • Yvette Murphy-Erby
  • Kameri Christy

Abstract

This qualitative study explores financial behavior and expectations in families of origin in addition to youth financial education and savings behaviors. The authors interviewed 14 youths, aged 17 to 19 years, whose families had low incomes, education levels, and savings rates and who participated in a youth-based financial education and dedicated savings program and present key themes and subthemes that were revealed during data analysis. Findings suggest that, rather than replicating the behavior of their parents and experiencing the same financial struggles, the youths interviewed were motivated by a desire to avoid these challenges. However, youths in this study also noted that they experienced social and economic barriers that their higher income peers did not. Policy, practice, and research implications of these findings are discussed.

Suggested Citation

  • Leah Hamilton & Marcia Shobe & Yvette Murphy-Erby & Kameri Christy, 2012. "“It’s All About Security to Meâ€," SAGE Open, , vol. 2(4), pages 21582440124, December.
    • Handle: RePEc:sae:sagope:v:2:y:2012:i:4:p:2158244012471958
    DOI: 10.1177/2158244012471958
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    References listed on IDEAS

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    1. Bernheim, B. Douglas & Garrett, Daniel M. & Maki, Dean M., 2001. "Education and saving:: The long-term effects of high school financial curriculum mandates," Journal of Public Economics, Elsevier, vol. 80(3), pages 435-465, June.
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    3. Ngina S. Chiteji & Frank P. Stafford, 2000. "Asset Ownership Across Generations," Economics Working Paper Archive wp_314, Levy Economics Institute.
    4. Frank P. Stafford & Ngina S. Chiteji, 1999. "Portfolio Choices of Parents and Their Children as Young Adults: Asset Accumulation by African-American Families," American Economic Review, American Economic Association, vol. 89(2), pages 377-380, May.
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