Date

9-19-2024

Department

School of Education

Degree

Doctor of Philosophy in Education (PhD)

Chair

James D. Sigler

Keywords

Danes, emerging adults, FFST, financial literacy, financial technology, Gudmunson

Disciplines

Education

Abstract

The purpose of this transcendental phenomenological study was to describe the experiences of emerging adults’ interactions with financial socialization and financial technology. This study examined various forms of financial mentoring emerging adults encounter before fully entering adulthood. The essential question is: What are emerging adults’ lived experiences with financial technology? The theory guiding this study is Gudmunson and Danes’ family financial socialization theory (2011) (FFST), which rationalizes how emerging adults obtain financial knowledge based on lived experiences. The researcher intentionally constructed this study as a qualitative transcendental phenomenological investigation gathering individuals’ experiences with a specific phenomenon through quality interview sessions, focus groups, and letter-writing prompts, resulting in descriptive content focused on the phenomenon. This study collected data from ten participants who had experienced FFST, identifying them through snowball sampling and the specific criteria of 18-26 years old and enrolled in a college or university degree program. The examination of the data ensured thematic saturation, and data triangulation provided insights into the participants' experience with fintech through FFST. Findings revealed that the themes, behaviors associated with FFST, distressing spending habits, and sociocultural dynamics affecting FFST significantly influenced the resourcefulness of emerging adults and how they subsidized their financial literacy knowledge using financial technology.

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