Date of Conferral







Steven Tippins


Researchers agree that Puerto Ricans lack basic financial knowledge that would allow them to participate in the financial system actively. However, the literature did not provide any data about the knowledge transmission practices that Puerto Ricans use to gather and transmit financial knowledge. As a result, there was a limited understanding of the social learning processes used by Puerto Rican college students to make financial decisions. Using consumer socialization and family financial socialization models as the theoretical framework, the purpose of this quantitative, nonexperimental study was to identify the information sources that Puerto Ricans use to gather financial knowledge. A sample of 198 Puerto Rican college students answered a portion of the College Student Financial Literacy Survey. The research questions examined the preference of 4 financial information sources, their level of influence, and the impact of exposure frequency of these socialization agents. Descriptive statistics showed that participants preferred to gather financial knowledge from parents. A combination of one-way ANOVA and RMANOVA confirmed that parents also had the highest level of influence. The results of a multiple linear regression test suggested that the frequency of exposure did not predict the financial knowledge of students in the sample. The outcomes of this study may be helpful in optimizing the communication vehicles used to transmit financial knowledge to the public. Researchers, educators, and policymakers may also use this study as foundation for the development of effective financial education strategies that will promote positive social change in Puerto Rico.