Emerging adults' financial capability: A financial socialization perspective

Caroline Marchant, Tina Harrison

Research output: Contribution to journalArticlepeer-review


This exploratory qualitative research uses the UK as a case study to understand how past and present financial socialization agents have either enhanced or inhibited emerging adults’ financial capability in order to highlight potential opportunities for future policy and practice interventions. Three primary socialization agents were identified. The family as trusted primary advisor continues well into adulthood, even where family financial capability may be low. Beyond this, emerging adults only reluctantly engage with their bank, rely on just‐in‐time experiential learning or self‐socialize via diving, often with false confidence, into the internet. Although there are many quantitative studies on financial socialization, this paper fills a gap by taking a deeply qualitative approach showing, for the first time, empirically highlighting the limited number of financial socialization agents through the voices of emerging adults. The findings contradict previous socialization research that suggests parental socialization reduces into adulthood.
Original languageEnglish
JournalInternational Journal of Consumer Studies
Early online date31 Oct 2019
Publication statusE-pub ahead of print - 31 Oct 2019


  • consumer socialization
  • emerging/young adulthood
  • financial capability
  • self‐socialization
  • financial socialization
  • transitions


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