The Role of Parental Instruments of Financial Socialization in Forming the Tendency to Repeat Parents' Saving Patterns

Magdalena Swacha-Lech , Małgorzata Solarz


The main area of interest in this contribution is parental financial socialization, which includes the following two types of socialization: parental role-modelling and parental teaching. Of particular interest here is the tendency to repeat parents' patterns, in which the financial attitudes and behaviors imitate those of parents/guardians. The purpose of this paper is to identify the factors determining the adoption of saving attitudes by children, where it is identical to the attitudes of their parents/guardians - i.e. adoption of the propensity to save by children raised by parents/guardians with the same propensity. Based on the review of previous studies, the following research hypothesis was formulated: parental role-modelling and parental teaching determine the children’s tendency to repeat parents' saving patterns. The following research methods were used to verify the hypothesis: CART algorithm, review and critical analysis of the subject literature and the descriptive method. The necessary empirical data of quantitative and qualitative nature were collected through surveys carried out in the middle of 2019 through CAWI on a sample of 800 Poles. The study results have demonstrated that the following instruments of parental teaching are particularly important in the context of the problem analyzed: the transfer of knowledge and skills regarding expenditure planning and money management by parents/guardians, encouraging saving and offering pocket money for performing household chores, as well as the children’s perception of as people who managed the household budget well (parental rolemodelling).
Author Magdalena Swacha-Lech (E&F / DF)
Magdalena Swacha-Lech,,
- Department of Finance
, Małgorzata Solarz (E&F / DFaA)
Małgorzata Solarz,,
- Department of Finance and Accounting
Publication size in sheets0.8
Book Soliman Khalid S. (eds.): Education Excellence and Innovation Management: A 2025 Vision to Sustain Economic Development during Global Challenges, 2020, International Business Information Management Association (IBIMA), ISBN 9780999855141
Keywords in EnglishFinancial Parental Socialization, Parental Role-Modeling, Parental Teaching, Repeat Parents' Saving Patterns
Referenced project[17] Program doskonałości naukowo - badawczej INTEREKON . . Project leader at WUEB: Ewa Stańczyk-Hugiet, , start date 01-01-2019, end date 31-12-2022, in run
Languageen angielski
Swacha_Lech_Solarz_The_Role_Of_Parental_Instruments_Of_Financial.pdf 312,71 KB
Score (nominal)70
Score sourceconferenceList
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UwagaThe project is financed by the Ministry of Science and Higher Education in Poland under the programme "Regional Initiative of Excellence" 2019 - 2022 project number 015/RID/2018/19 total funding amount 10 721 040,00 PLN
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