Antonia Grohmann|Roy Kouwenberg|Lukas Menkhoff
Childhood roots of financial literacy
German Institute for Economic Research|Mahidol University|Erasmus University Rotterdam|German Institute for Economic Research|Leibniz University Hannover|Humboldt-Universität zu Berlin
financial literacy predicts informed financial decisions explains financial literacy use concept financial socialization aim represent three major agents financial socialization family school work thus compile twelve relevant childhood characteristics new survey study examine relation financial literacy controlling established sociodemographic characteristics find mediation analysis family school positively affect financial literacy adults moreover financial literacy school related variables also direct effect financial behavior suggests family factors schooling work complementary channels