London Metropolitan University Research Institutes

Pocket money as agent of economic socialisation

Author(s) Kristi Kõiv Edgar Kru  
Publisher CiCe Publications  
Year 2004  
Editor A. Ross, The Experience of Citizenship  
Language English  
Age group -  
Research about economic beliefs and behaviors are divided into three areas: (1) stage-wise theories about the development of economic ideas, (2) development of different economic concepts, and (3) management of pocket money (Furnham, 2002). One important way in which parents socialise their children in economic matters is through the management of money in the family context. Psychological and educational perspective come together in studies focusing on how children socialise in the area of pocket money or allowances, whereby psychologist are more interested in children's economic thinking, and educational researchers about effective parental money management in the family.

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