Abstract:

Economic socialization starts in childhood within the family. This study aims to examine behaviour of parents and would-be parents and their attitudes towards money. It can be assumed that they will pass on their attitudes to their children in future. Specifically, we focused on assessing the knowledge in the field of financial literacy (FL), money attitudes (MES), and attitudes towards pocket money (AP). A total set of 112 Czech men and women aged 18 to 64 years participated in the research. Other significant demographic variables monitored were the number of children (more than 70% of the group have one or more children), marital status, education and employment. To obtain the data the Financial literacy questionnaire, the Money attitude scale and Pocket money attitudes questionnaire were used. The results of the survey showed that most of the sample (over 80%) consider money a good and useful tool in human life and perceive to be able to manage their budgets well. Men showed greater knowledge in topics related to FL. In some FL topics (almost 50% of probands) admitted complete ignorance. Otherwise, men and women did not differ significantly in their attitudes and opinions towards money. Similarly, no correlation was found between the age of probands and their opinions and attitudes towards money. Almost 70% of the sample expressed their positive opinion towards providing children with pocket money and 30% of the sample feels sympathetically to an annual increase of pocket money.

Keywords:

Economic socialization, attitudes towards money, pocket money, financial literacy.