TITLE:
Parent’s Beliefs and Behaviours about the Economic Socialisation, through Allowances/Pocket Money, of Their Children
AUTHORS:
Adrian Furnham, Rebecca Milner
KEYWORDS:
Pocket Money, Allowances, Religious and Political Beliefs, Social Class, Gender
JOURNAL NAME:
Psychology,
Vol.8 No.8,
June
26,
2017
ABSTRACT: This study aimed to examine the content, structure and correlates of parent’s beliefs about how to educate their children about money and economic behaviour. 512 participants completed a questionnaire comprised of two scales assessing various beliefs and behaviours which was based on popular books on the topic. A principal component analysis was conducted on both questionnaire measures, yielding five interpretable factors from each scale. Regressions suggested that gender as well as religious and political orientation were key determinants of attitudes towards pocket money.