Financial perspectives of emerging adults : similarities and differences between gen-zeds and millennials
Cast your vote
You can rate an item by clicking the amount of stars they wish to award to this item.
When enough users have cast their vote on this item, the average rating will also be shown.
Your vote was cast
Thank you for your feedback
Thank you for your feedback
AuthorBerg, Hunter J.
KeywordResearch Subject Categories::SOCIAL SCIENCES::Social sciences::Psychology
Generation Y -- Research
Generation Z -- Research
Young adults -- Research
MetadataShow full item record
AbstractEmerging adults (individuals ages 18-24) today are struggling with finance. In fact, financial factors make up four of the top five stressors of college students today (Sinha et al., 2018) while, at the same time, much research has shown these populations lack the financial skills necessary to make even the most basic financial decisions (Serido & Deenanath, 2016; Shim, Serido, Bosch, & Tang, 2013; Terriquez & Gurantz, 2014). The problem does not seem to be related to a lack of resources, as there are currently more tools to help one improve financial literacy than ever before (Sinha, Tan, & Zhan, 2018). Perhaps roots of the problem stem from development. In 2011, Gudmonson and Danes founded a theory of financial socialization, claiming that financial development stems primarily from implicit and explicit lessons provided by one’s parents or guardians. This study dives into the financial perspectives of Millennials and Generation Z, attempting to cypher out commonalities and differences in financial development, knowledge, value, and anxiety between and within the generations. Major findings include differences between financial perspectives based on gender, social class, and political orientation. Adding to Gudmonson and Danes’ (2011) financial socialization theory, major differences were found in financial literacy and anxiety based on sibling birth order. These results suggest that siblings may directly or indirectly affect one’s financial socialization by influencing or supplementing parents’ explicit and implicit financial lessons. The study concludes with ideas for future research.
The following license files are associated with this item:
- Creative Commons
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivs 3.0 United States
Showing items related by title, author, creator and subject.
The relationship between family socialization and financial behaviors in college studentsCasanova, Samantha (2020-05)This pilot study examined the relationship between family financial skills and behaviors and the financial behaviors and skills of college students. The goal of this study was to see if findings from Gudmunson and Danes (2011) who developed family financial socialization theory, would be replicated among SUNY New Paltz college students. Fifty-nine college students were surveyed using items from Jorgenson and Salva’s (2007) College Student Financial Literacy Survey (CSFLS). A correlational study was conducted; results suggested a positive, weak relationship; as family financial skills increased, financial skills increased. Overall results were not statistically significant; family financial interactions were not associated with the financial behaviors of college students. While no associations were identified at the variable level, at the item level, several associations were identified in the expected direction. Self- reported ability to manage one’s own finances was associated with learning about and observing financial management from parents/guardians. Self-reported ability to manage one’s own finances was associated with observing parents/guardians save money. Furthermore, among the 37 students who reported having one or more credit cards, family saving was negatively associated with owing money on one’s own credit cards. This research suggests the importance of family communication about financial skills and behaviors to encourage better financial behaviors in young adults.
Designing a Mobile Application for Small Business Use in Strengthening Customer RelationsCrabtree-Keeler, Collin (2015-12)The goal of this thesis and the accompanying mobile application prototype is to conceptualize and design a mobile application for small businesses that would allow these organizations to bridge the technological and communication gap outlined in this document. The resulting application, once fully developed, would also allow business owners to better connect with their customers by offering a service designed to manage customer data and provide incentives for recurring visits. The research outlined in this document focuses on addressing the current issues regarding the aforementioned technological gap, as well as providing ideal design methods in order to create a more effective user interface and subsequent digital service.
Using Video Tutorials to Aid Coherence of Failed or Unchangeable DesignsGriggs, Danielle; Stam, Kathryn; Thesis Advisor; Lizardi, Ryan; Second Reader (2019-05)Information design exists to convey information to users. When users have trouble understanding or using the information, the design has failed its primary purpose (Katz 17). When a design has failed and cannot be adjusted, the logical next step is to create another design to assist in using the first design. Tutorials are the perfect opportunity to help fill the void in a failed design. With the assistance of video and/or screen sharing technology, designers can create guided step-by-step instruction to assist users in navigating a process. This paper will examine how video tutorials can fill the void in coherence and transparency left by a failed design, including methods for creating successful video tutorials and an examination of equipment necessary for recording.