Elise is originally from Lehi, Utah and is a Family Studies major at BYU. After graduating, she plans on pursuing a master’s degree in Marriage and Family Therapy. In her free time, she enjoys spending time with family and friends, traveling, and doing anything creative.
Elise Rich
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Who Affects You? How Parents, Peers, Employment, and Media Can Influence Your Spending Behaviors
We do not all start with a perfect knowledge of what to do with our finances, I know I did not. Our financial knowledge and behaviors are affected by the people we are surrounded by. What we learn about finances during adolescence will affect our future financial behaviors. In a study conducted across multiple locations, Dr. LeBaron-Black and other researchers studied how parents, peers, employment, and media impact financial habits. Which one do you think has influenced you the most? In the study, they found that parents had the greatest influence on financial behaviors.[1] They also found that learning about money from parents and employment helped emerging adults develop good financial habits, while learning about money from peers and media encouraged bad financial habits.
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