Abstract

This study of over 500 fifteen year old high school students in New Zealand found that boys have earlier financial discussions with their parents than girls, with the age of first discussion having a significant impact on financial literacy quiz scores for boys, but not for girls. Boys were found to have more positive attitudes than girls about financial matters, specifically around saving and spending. Boys were also found to impulse spend less than girls. Impulse spending behaviour of girls could be mitigated to a certain extent by the education level of the girls' mothers, while a more educated father is correlated with a higher financial literacy quiz score for both boys and girls, after controlling for socioeconomic status. It is suggested that parents need to be aware of how gender stereotypes, and the «financial culture» in the home ultimately impacts on the financial knowledge, attitudes and behaviours of their children.