This study investigated the influence of financial socialization on financial distress and demonstrated the importance of both cognitive and noncognitive ability channels through which this relation operates. Using data from a nationally representative sample of adult US residents, the results showed that adults in the bottom quintile of financial socialization are significantly more likely to experience financial distress than those in the top quintile. We also provide evidence that financial socialization is related to financial distress both directly and indirectly through cognitive ability measures of financial knowledge and financial skills, as well as the noncognitive ability measure of financial self-control. The findings highlight the importance of financial socialization in familial contexts. Implications for personal finance advocates, financial educators, children and family service providers, and policymakers are discussed.

中文翻译：

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财务社会化和财务困境：认知和非认知能力的作用

这项研究调查了金融社会化对财务困境的影响，并证明了认知和非认知能力渠道对这种关系的重要性。使用具有全国代表性的美国成年居民样本的数据，结果显示，处于金融社会化程度最低的五分之一的成年人比处于最高五分之一的成年人更有可能经历财务困境。我们还通过金融知识和金融技能的认知能力测量以及财务自我控制的非认知能力测量提供证据表明，金融社会化与财务困境直接和间接相关。研究结果强调了家庭背景下金融社会化的重要性。讨论了对个人理财倡导者、理财教育者、儿童和家庭服务提供者以及政策制定者的影响。