Financial Articles

Financial Articles

Article One

Financial attitudes and family communication about students' finances: The role of sex differences

Renee Edwards, Myria Watkins Allen and Celia Ray Hayhoe (2007)

Purpose

The purpose of the article the financial attitudes of the family towards their children education expenses. The authors mentioned that in terms of monetary conditions, men values money, and they are also less dependent upon their family regarding financial issues. The authors highlighted that men and women have different attitudes and different communication patterns when it comes to financial matters. Therefore, to examine this pattern, the authors conducted research on these issues taking young college students as there sample (N= 1317), and research on their communication patterns in relation to financial situations.

Methodology

In the above paragraph, the writer already mentioned sample size for the research. The researchers included participants from four major state universities. These states were Kentucky (n= 290, 22%), Louisiana (n= 294, 22%), Missouri (n= 216, 16%) and Arkansas (n= 515, 39%). Among this sample size, 60% of the students were female and remaining 40% were male. Another sampling criterion was that almost 98% of the students were unmarried and 99% of the students were full-time students. The survey questionnaire was divided into two halves. The first half consists of questions regarding attitudes towards money and credit cards. Whereas, in the second half, questions were related to the openness of the communication.

Findings

The findings showed that communication openness is very important in terms of financial assistance for a college going student. According to the researchers, this finding highlighted the importance of communication among the parents and their children. Second finding of the research was that the parents provide reasonably less financial support to the sons as compared with daughters. As it was already mentioned that boys not as much of dependent upon their parents for financial matters. The researchers also shed some light on sex differences. According to the researchers, parents are much more inclined towards college going daughters instead of sons regarding the financial support. This finding supported by the socialization theories in which parents expect that sons have more knowledge regarding the Monterey funding to support themselves. Similarly, based on the theory, the research finds that daughters dependent upon parents in two different ways to support their financial matters. Firstly, parents really supportive to daughters for financing and also gave them the social support that daughters required.

Another finding that the researcher focused is the attitudes of children with their parents. According to the researcher, if the parents and children have good communication between them, than it will be easy for the children to talk about the financial matters with parents.

Conclusion

The main theme behind this research was to highlight the sex differences in college going students concerning communication openness with their parents for financial assistance. The results of the research shown that females are good in communicating and getting financial assistance.

Critique

The reason behind selecting the article was that being a student I sometimes feel challenges in covering my education ...