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<p>This paper examines how family financial socialization relates to adolescents’ financial literacy. Using Spanish microdata from PISA 2022 and applying a multilevel regression approach with complex survey adjustments, we analyze whether different forms of financial interaction within the household, as well as students’ engagement in specific financial activities like holding a bank account, using payment cards or accessing mobile banking applications are associated with financial literacy scores. The results show that home-based practices and financial interactions are consistently associated with higher financial literacy, even after controlling for background characteristics. Moreover, the evidence reveals heterogeneous patterns, with parental involvement being particularly relevant for boys and for students from less advantaged socioeconomic backgrounds. Overall, the findings point to the importance of recognizing the household as a key environment for financial socialization and underline the value of policies that, alongside strengthening school provision, support parents in fostering their children’s financial understanding.</p>

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Exploring the Role of Family Environment in Explaining Financial Literacy Levels of Students: Evidence from Spain

  • 期刊论文

  • 出版模式：

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  • 发表日期：

    2026年6月1日

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  • Jose Manuel Cordero,
  • Lucía Mateos-Romero

摘要

This paper examines how family financial socialization relates to adolescents’ financial literacy. Using Spanish microdata from PISA 2022 and applying a multilevel regression approach with complex survey adjustments, we analyze whether different forms of financial interaction within the household, as well as students’ engagement in specific financial activities like holding a bank account, using payment cards or accessing mobile banking applications are associated with financial literacy scores. The results show that home-based practices and financial interactions are consistently associated with higher financial literacy, even after controlling for background characteristics. Moreover, the evidence reveals heterogeneous patterns, with parental involvement being particularly relevant for boys and for students from less advantaged socioeconomic backgrounds. Overall, the findings point to the importance of recognizing the household as a key environment for financial socialization and underline the value of policies that, alongside strengthening school provision, support parents in fostering their children’s financial understanding.