Financial Prudence and Next Generation Financial Strain

Jeffery R. Hibbert · Ivan F. Beutler

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Financial Literacy, Pension, Retirement Analysis Higher Education Research Studies Financial Literacy and Behavior

Abstract

The purpose of this study is to examine the influence parents have in reducing the financial strain their children experience as early adults to the extent that financial prudence was modeled in the commonplace routines of home and family life during the child's growing-up years. Using data from students about to graduate from two large U.S. universities (from a southeastern and a western state), financial prudence was examined for its direct effect on the reduction of financial strain and also for two possible indirect effects through debt avoidance and credit card misuse. Financial prudence was found to decrease financial strain directly and also indirectly through debt avoidance and credit card misuse behaviors

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References

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