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Financial-Planning-JFEI-Supplement.pdf
(2017)
  • Catherine A. Manly, University of Massachusetts - Amherst
  • Ryan S. Wells
  • Genia M Bettencourt
Abstract
This study explores the conversion of cultural capital into economic capital, and specifically financial capital in the form of parental financial planning for children’s college education, including reported financial preparations and savings. Using data from the Education Longitudinal Study (ELS:2002), logistic regression-based analyses of aspects of cultural capital indicated that parental involvement exhibited the most prevalent relationship with financial planning and the amount saved, and that parents' expectations, but not their aspirations, corresponded to engagement in financial planning. Findings support the conclusion that some parents convert part of their cultural capital to financial capital in preparation for paying for their child’s college education, perhaps representing a typically hidden facet of social class reproduction.
Keywords
  • parental financial planning,
  • college saving,
  • cultural capital,
  • financial capital,
  • capital conversion
Disciplines
Publication Date
2017
DOI
10.1007/s10834-016-9517-0
Comments
The file Financial-Planning-JFEI-Supplement.pdf accompanies the following article: Manly, C. A., Wells, R. S., and Bettencourt, G. M. (2017). Financial planning for college: Parental preparation and capital conversion.  Journal of Family and Economic Issues. doi:10.1007/s10834-016-9517-0 . It includes information about the operationalization of the variables used, as well as complete logistic regression results for the 13 individual financial planning actions investigated in the study       
Citation Information
Catherine A. Manly, Ryan S. Wells, and Genia M. Bettencourt. (2017). "Supplemental file: Financial planning for college" Available at: http://works.bepress.com/ryan_wells/36/