Purpose

The objective of this study was to empirically examine how family financial socialization affects individuals' financial outcomes, including financial literacy, financial behavior and financial well-being, based on the family financial socialization theory (FFST).

Design/methodology/approach

Using a national representative sample of 6,311 US respondents from the 2016 National Financial Well-Being Survey, structural equation modeling (SEM) was conducted to test the hypotheses in this study. Sampling weights were incorporated into the structural model using the maximum likelihood estimation with robust standard errors and a Satorra-Bentler scaled test statistic (MLM estimation).

Findings

This study concludes the effectiveness of family financial socialization by showing that parental financial socialization has significant positive impacts on financial literacy, financial behavior and financial well-being. In addition, parents' education can significantly influence the quality of parental financial socialization.

Practical implications

The result underscores the importance of financial socialization in the family context and encourages parents to discuss financial matters with their children at home. Detailed implications have been provided to financial educators, practitioners and policymakers to incorporate parental involvement in the design of financial education programs, as well as financial services providers to improve marketing strategies for their banking services.

Originality/value

This research is amongst the first to empirically explore the relationships among parental financial socialization, financial literacy, financial behavior and financial well-being based on the FFST. The study also contributes to the literature by confirming the effects of parental socialization received in childhood on adults' later financial outcomes.

中文翻译：

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在家谈钱：家庭金融社会化的价值

目的

这项研究的目的是根据家庭金融社会化理论（FFST），以实证研究家庭金融社会化如何影响个人的金融成果，包括金融素养，金融行为和金融福祉。

设计/方法/方法

使用来自2016年国家金融福利调查的6,311名美国受访者的全国代表性样本，进行了结构方程模型（SEM）检验本研究的假设。使用具有鲁棒标准误差的最大似然估计和Satorra-Bentler缩放测试统计量（MLM估计），将采样权重合并到结构模型中。

发现

这项研究通过证明父母金融社会化对金融知识，金融行为和金融福祉具有显着的积极影响，从而得出家庭金融社会化的有效性，从而得出结论。此外，父母的教育可以极大地影响父母财务社会化的质量。

实际影响

结果强调了在家庭背景下进行金融社会化的重要性，并鼓励父母与子女在家中讨论财务问题。已向金融教育者，从业人员和政策制定者提供了详细的含义，以使父母参与金融教育计划的设计，并向金融服务提供商提供以改善其银行服务的营销策略。

创意/价值

这项研究是第一个以实证研究为基础探索父母金融社会化，金融素养，金融行为和金融幸福之间关系的研究。该研究还证实了儿童时期父母的社交活动对成年人后期财务状况的影响，从而为文献做出了贡献。