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The purpose of this paper is to understand the influence of young adults’ socialization and product involvement on family housing and real estate purchase decision-making process. While previous studies have used these constructs in the fast-moving commercial goods category, this paper is considering the real estate family purchase decision as the core point of research and analysis.

Data were collected from 429 young working adults across various sectors in India. The proposed conceptual framework is tested using structural equation modeling.

The findings suggest that the teenagers with high social life have a better say in the decision-making process. It was also found that the young adults’ product involvement (measured in terms of gratification and symbol) construct shows how involved they are with the final decision-making in a family. The results suggested that the more young adult socializes, the more voice he has in the family housing and real estate decision-making process.

This paper is the first to analyze the role of teenage socialization and product involvement on family housing and real estate purchase decision-making process. This paper will be practicable to all the stakeholders of the housing industry as a whole.

This study aims to examine the association between parental financial socialization and life satisfaction and the mediating roles of desirable financial behavior in the association between parental financial socialization and life satisfaction of college students in India. Furthermore, this research also explores the moderating effects of parents’ socioeconomic characteristics (education, income and professions) in the association between parental financial socialization and desirable financial behavior.

A sample of 1,161 college students was collected in India. Parental financial socialization is measured by direct parental teaching in this study. The first stage moderated mediation model is performed to examine the direct and indirect effects through financial behavior of parental financial on life satisfaction as well as the moderating role of parents’ socioeconomic characteristics.

The mediation analysis shows that parental direct teaching is positively associated with young adults’ financial behavior, which in turn contributes to their life satisfaction. Furthermore, this study also finds negative moderation effects of parental education on the association between parental direct teaching and children's financial behavior.

This study extends the knowledge of family financial socialization in the context of India. Moreover, it examines the mediation roles of desirable financial behavior in the association between parental direct teaching and children’s life satisfaction. Furthermore, this paper explores the potential influence of parents’ education, income and professions on children’s financial behavior and life satisfaction.

Drawing from socialization theory this study investigates the effect of financial socialization and mediating role of “attitude toward money” (ATM) and financial literacy on the financial behavior of young adults in an emerging economy.

A cross-sectional survey of 302 young adults was conducted and responses were analyzed to determine the key antecedents of financial behavior. The model was tested using OLS regression. Parallel mediation was tested using Process Macro in SPSS.

ATM, subjective financial literacy, objective financial literacy are positively associated with financial behavior. Furthermore, parallel mediation analysis establishes the role of ATM and subjective financial literacy as a mediator between financial socialization and financial behavior.

These findings have implications for both financial and academic institutions and policymakers. Academic institutions should introduce personal wealth management courses at early stages in their courses to help young adults make appropriate financial decisions. Policymakers should emphasize creating a habit of budgeting and managing expenses among young adults in addition to promoting financial literacy.

This study focuses on determinants of financial behavior in young adults and specifically, argues that involving parents to financially socialize their children have a crucial impact on subjective financial literacy and ATM which has not been explored in previous literature.

This study aims to determine website quality, young adult socialization and dark triad personality as the factors influencing the real estate purchase decision. In addition, this study also measures the mediating effects of young adult socialization on real estate purchase buying behavior.

Related literature, quantifiable variables with a five-point Likert scale, hypothesis testing and mediators are used to study the model. A systematic questionnaire that was divided into four sections was used. A total of 336 valid responses were collected and analyzed through a structural equation model.

The results suggest that dark triad personality and young adult socialization considerably affect real estate purchase decisions. The development proves website quality does not significantly impact real estate purchase behavior.

This study is limited to a few young consumers’ responses. Future studies could be more widespread globally and should include more variables and offline methods of purchasing behavior.

As per the review of existing literature, this research is the first, to the best of the authors’ knowledge, to determine the factors affecting the real estate purchase decision with factors like website quality, dark triad personalities and young adult socialization involving it.

The consumer competence concept is loaded with ambiguity in the academic as well as in the public use of the term. The purpose of this paper is to examine the concept theoretically and empirically.

Consumer socialization theories were compared and combined for the theoretical background, and a mixed‐methods methodology was applied for the empirical part. The study included young adults aged 18‐25, who had recently established their first household. Qualitative and quantitative methods were used to explore the way in which young consumers establish their first household, particularly with respect to how new, complex buying decisions are managed.

Guidance from family and friends was found to be of major significance as regards complex consumer decisions made in the transition period from home to first household. The young adults did not display very high levels of consumer competence in actual consumption decisions, however, more competent approaches were reported when respondents were faced with hypothetical purchase situations. The young consumers' own understanding of what consumer competence requires showed some degree of correspondence with traditional notions of “desirable consumer socialization,” but also added a fundamental consumer competence to the list: to carefully consider one's need to make a purchase.

The study included only a certain segment of young consumers. Future studies of consumer competence may include consumers of other age groups, consumers at different transitional life stages, or consumers with other cultural backgrounds to make comparative studies of the consumer competence of different segments of the population and across nations.

The study highlights a concept of importance to both consumers and marketers, which has previously been largely overlooked or only implicitly referred to.

Parents are the first and leading socialization agents for young adults. It is vital to recognize the influence of perceived parental financial behaviour in shaping the financial literacy and investment behaviour of their children. In this context, this paper aims to test the perceived parental influence on financial literacy. Additionally, the direct and indirect influence of financial literacy on investment behaviour of young adults is examined.

This paper uses survey-based cross-sectional data. The partial least squares-structure equation model has been used to estimate and test the hypothesized relationships.

Perceived parental financial behaviour has been found to significantly impact the level of financial literacy. In turn, financial literacy positively influences the investment behaviour of young adults. Moreover, the young adults’ perception of confidence over ability to take right financial decisions drives their decision to invest.

The results of this study imply that there is a need to have planned interventions from policymakers to ensure that young adults are financially literate. This may require introduction of planned programmes or workshops at middle or senior school levels. These programmes should help young adults understand the need for focused and long-term investing in the absence of social benefits.

This study is one of the preliminary works to examine the perceived parental influence on young adults’ financial literacy and further linking these with actual investment behaviour.

The purpose of this paper is to examine how family communication patterns and lifestyles are linked to purchases of sports shoes and casual clothing for young adults.

The survey was conducted in 2005, and total valid samples were 576. Differences in purchasing decisions among various segments of young adults are analysed for two product categories: sports shoes and casual clothing.

This study segments the respondents into two clusters, pragmatic and fashion‐cognisant. The family communication patterns for respondents in the pragmatic cluster are more likely to be low concept‐oriented, Protective and Laissez‐faire. The respondents in the pragmatic cluster purchase sports shoes and casual clothing less frequently, and pay less attention to marketing‐related information. The fashion‐cognisant respondents pay special attention to the marketing‐related information and brands can be influential in decisions. These fashion‐cognisant young adults are considered to be opinion leaders, and purchase sports shoes and casual clothing more frequently with higher budgets. The family communication patterns of respondents in this cluster are high concept‐oriented: Pluralistic and Consensual.

Strategic marketing designed to attract pragmatic young adults can follow two directions: atmosphere in stores and discounts. For young adults who are fashion‐cognisant, directions of strategic marketing are to strengthen the brand image and utilise advertising to disseminate information.

This study provides new insights into the area that has not been studied exclusively, the linkages of family communication patterns and lifestyles to purchases of sports shoes and casual clothing.

Prior work expresses concern about young people's rising debt and lack of financial preparedness. This study focuses on how financial socialization and psychological characteristics affect the personal financial management behavior (PFMB) of young professionals in India. The authors examine both the direct effect of these factors and the indirect effects through financial literacy and aforementioned psychological characteristics as mediators.

The authors develop a conceptual framework based on the extant literature and empirically test its hypotheses employing partial least squares structural equation modelling (PLS-SEM).

Attitude towards money, financial self-efficacy, financial risk tolerance, financial socialization through parental direct teaching and peers, and media are all positively associated with young professionals' PFMB, whereas external locus of control and procrastination are negatively associated with their PFMB. Almost all psychological characteristics partially mediate the association between financial socialization and PFMB. Finally, financial literacy plays a partially mediating role in the association between procrastination and PFMB as well as between financial socialization and PFMB.

This study helps regulators and policymakers understand PFMB among young professionals. Interventions should build on the positive role of financial socialization, cultivating a good attitude towards money and financial self-efficacy, and reducing reliance on an external locus of control and procrastination. This study also helps policymakers and financial educators develop societally beneficial personal finance programs.

This research investigates social, psychological and cognitive characteristics in a comprehensive framework to further the authors’ understanding of the topic of PFMB.

The purpose of this paper is to examine the relationship between financial socialisation experiences, socio-economic factors, demographic characteristics and the financial knowledge of first year undergraduate students.

Using a questionnaire, data were collected from a sample of 450 first year university students from both private and public universities. A multivariate regression method was adopted to examine the influence of financial socialisation among respondents of different ethnic groups and their social backgrounds on the individual's financial knowledge.

The findings indicate that: firstly, financial knowledge is low among first-year university students in Sarawak. Secondly, male respondents outperform female counterparts in terms of financial knowledge. Thirdly, parental financial socialisation remains the main source of financial knowledge among the students. Fourthly, there are significant differences in financial knowledge across ethnic groups.

It is paramount to implement financial education programmes to elevate the financial literacy for both youth and parents since parents remain the primary source of financial socialisation for young adults.

The study suggests that financial knowledge varies according to gender and ethnicity. Hence, financial education programmes should be designed to accommodate the differences between groups based on ethnicity and gender to achieve the best outcome.

This is the first study that draws a representative sample of university students in Sarawak that examines the effects of ethnicity, gender and parental financial socialisation on financial knowledge among first year university students.

This study aims to explore possible behavioural change venues, beyond the traditional approach to financial education, using the capability-opportunity-motivation behaviour theoretical framework of behavioural change.

The study included 45, semi-structured, in-depth interviews of young adults to explore which elements of financial behaviour formation should interventions target to be effective.

To strengthen capability, the study recommends behavioural education and training for boosting financial knowledge and skills, enablement of financial independence and modelling for empowering self-control and reducing impulsiveness. To boost motivation, gamification of modelling is advised for boosting responsible financial behaviour as part of the identity and inducing consideration of future consequences. Persuasion is advised for inducing positive emotions while incentivization and coercion are advised for empowering self-conscious intentions. To rise opportunity, the study proposes incentivization and coercion imposed by parents, and governmental efforts regarding restriction, enablement and environmental restructuring.

The study brings recommendations for developing efficient interventions for strengthening responsible financial behaviour that may help design type-specific education programmes to promote responsible financial behaviour.

The present study attempts to explore new venues in intervention design that break away from the traditional approach of financial education focused on knowledge and skills that is proven to be ineffective