Financial Socialization: Insights From the Life Course Paradigm

Abstract

Although researchers have suggested that financial socialization is a lifelong process that should be studied using a life course approach, they have offered inadequate theories and research frameworks for studying financial socialization over time. This article offers the life course paradigm (LCP) as a multitheoretical conceptual research framework within which socialization research in multiple disciplines has been integrated in recent decades. It derives a financial socialization model from the general conceptual LCP and develops a set of propositions to illustrate the life course approach as a blueprint for future research.