The Socialization of Financial Giving: A Multigenerational Exploration
Previous research has found that family socialization influences financial giving behaviors and that financial giving predicts personal wellbeing. However, little research since the early 1980 s has explored this phenomenon, and virtually none of the research has been qualitative in nature. As part of the Whats and Hows of Family Financial Socialization project, this study employs a diverse, multi-site, multigenerational sample (N = 115) to qualitatively explore the following research question: how do children learn about financial giving from their parents? In other words, how is financial giving transmitted across generations? From interviews of emerging adults and their parents and grandparents, three core themes emerged: “Charitable Donations,” “Acts of Kindness,” and “Investments in Family.” Various topics, processes, methods, and meanings involved in this socialization are presented, along with implications and potential directions for future research.
KeywordsFinancial giving Financial socialization Generosity Sharing Charitable donations Financial education Parenting Family finance Emerging adults Qualitative
I would like to thank Jeff Hill, Loren Marks, and Jeff Dew for their helpful reviews of earlier drafts.
Compliance with Ethical Standards
Conflict of interest
Ashley LeBaron declares that she has no conflict of interest.
IRB approval for the research project was secured in February 2015.
All participants signed a consent form prior to participation.
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