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What is Financial Socialization

Chapter 5
Handbook of Research on Behavioral Finance and Investment Strategies: Decision Making in the Financial Industry
Is the capability to obtain all relevant technical, commercial, behavioral and emotional information that contribute to one’s financial knowledge and skills. The source of financial socialization in the most of the cases is the surrounding social environment, such as family members, parents, relatives, close friends, community organizations and professional financial bodies.
Published in Chapter:
Financial Education for Children and Youth
Zeynep Tezel (Kırıkkale University, Turkey)
Copyright: © 2015 |Pages: 24
DOI: 10.4018/978-1-4666-7484-4.ch005
Abstract
Although financial education consists of individuals of all ages, education of young people in the field of finance is more important. The young generation faces more financial risks and more complicated financial products than their parents. Besides, young people are introduced to financial services at very early ages owing to cell phones, bank accounts, credit cards. Therefore, it is important that individuals are educated in finance as early as possible.
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