Parental Financial Socialization, Financial Experiences, and Financial Behaviors: Comparing Asian American and International Asian College Students

Yiting Li, Virginia S. Zuiker, Tai J. Mendenhall, Catherine P. Montalto

Research output: Contribution to journalArticlepeer-review

7 Scopus citations

Abstract

Paying for college expenses can be stressful for anyone, regardless of citizenship status. Asian American students and their parents may be negotiating with each other who will shoulder these expenses, while international Asian students often enter this country with their parents' financial support already established. This is the first study to specifically examine a large sample of Asian college students (n = 671) and explore how parents influence Asian students' financial attitudes, knowledge, and behaviors through a family financial socialization theoretical lens. Results show that financial socialization is positively associated with financial behaviors for all Asian college students. Findings are informative for college counselors, financial advisors, educators, and clinicians who work with Asian students and their parents.

Original languageEnglish (US)
Pages (from-to)68-85
Number of pages18
JournalJournal of Financial Counseling and Planning
Volume32
Issue number1
DOIs
StatePublished - Dec 26 2020

Bibliographical note

Publisher Copyright:
© Copyright 2021 Association for Financial Counseling and Planning Education, U.S.A.

Keywords

  • Asian
  • college students
  • family financial socialization
  • financial attitudes
  • financial behaviors
  • financial knowledge

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