Title: Factors and Implications of Financial Socialization of Black Immigrant Women
Wednesday, November 15th, 2017
The purpose of this study is to investigate the factors and implications of black-Caribbean and African women's financial socialization. Sixteen black-Caribbean and African immigrant women were interviewed to understand their financial socialization. Analysis of the data show four major themes in participants' financial socialization: (a) observation of household financial hardships, (b) guided financial management instruction, (c) the importance of saving, and (d) equal parental financial socialization involvement. Financial counselors, planners, and educators can use the results to better understand cultural influence on financial management behaviors of black immigrant women.