Name: Lachlan Simmers
Live Poster Session: https://wesleyan.zoom.us/j/94167225608
Lachlan Simmers
My name is Lachlan Simmers, I am a junior Economics major and Data Analysis minor at Wesleyan. I am interested in the research of financial outcomes and my project will examine the relationship between childhood financial socialization and financial well-being.
Abstract: Existing research surrounding the relationship between financial socialization and financial well-being suggests that exposure to financial socialization, particularly experiential activity, is associated with higher FWB scores. In order to examine this relationship, I used data from the National Financial Well Being Survey, created a variable to represent types of financial socialization, and ran both bivariate and multivariate analyses. The regressions yielded a significant relationship between financial socialization and FWB score, with experiential learners displaying the highest average scores. An additional regression identified regular allowance as the highest quality form of experiential financial socialization, elaborating on research in the literature review.
Lachlan-Simmers-QAC201-Final-Project-Poster