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F4b Harvesting the Fruits of their Labor: Understanding the Role of Mixed Immigration Status in Family Financial Socialization
Short Description
Families with mixed documented and undocumented legal statuses encounter significant challenges that impact their financial wellbeing (Ayon et al., 2023). This study explores family financial socialization within Latine mixed-status families, a relatively understudied group. Over the past decade, research has highlighted the crucial role parents play in shaping their children’s financial understanding. This process involves transmitting financial information, skills, attitudes, and behaviors through observation, discussions, and experiential learning. While previous studies have noted variations in family financial socialization based on race, ethnicity, and immigration status, there is limited research on mixed-status families. This study aims to fill this gap by examining the experiences and perceptions of 12 dyads of college students and their parents from Latine mixed-status families across the United States. By focusing on how immigration status influences financial socialization, the study seeks to uncover the unique challenges these families face and their strategies for financial education. This research will provide valuable insights into the dynamics of financial socialization in Latine mixed-status families, contributing to a broader understanding of how diverse family backgrounds impact financial well-being.
Type of presentation
Accepted Oral Presentation