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Eastern Economic Journal

, Volume 44, Issue 2, pp 177–189 | Cite as

Don’t Do As I Do, Do As I Say? Evidence on the Inter-Generational Transmission of Financial Attitudes

  • Andrew Gill
  • Radha Bhattacharya
Article

Abstract

This study explores further the intergenerational transmission of financial attitudes in several new directions. We examine a broad range of financial attitudes that impact future financial health and consider a host of family characteristics that affect the process of socialization in the transmission of attitudes from parents to children in predominantly low-income Hispanic families. We find a strong link between the financial attitudes of parents and their children, but the socialization process differs among financial attitudes. Interestingly, it is not parents’ actual saving behavior but rather what they say about their financial behavior that is associated with children’s attitudes toward saving.

Keywords

financial attitudes inter-generational transmission socialization Hispanic youth 

JEL

D14 D19 J13 

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Copyright information

© EEA 2016

Authors and Affiliations

  1. 1.Department of EconomicsCalifornia State University FullertonFullertonUSA

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