How has the family's current approach to money reflected life pathways and patterns
How has the family’s current approach to money reflected life pathways and patterns?
- Families spending practices can be easier to understand in the context of parents’ upbringing and life experiences. For example, are parents over-compensating for things they didn’t have themselves?
If a parent has experienced little control over any aspect of their life, is it realistic to expect them to have a high level of organisation and planning in money management? - What kinds of modelling of money management did parents have from their own family?
- How do family obligations impact on the family’s money management? In many cultures, including Aboriginal and Torres Strait Islanders communities, obligations to extended family take precedence over other responsibilities. This can impact on a family’s available income.
- Where family members have migrated to Australia, how has this affected their money management practices? Do they have particular aspirations or responsibilities? Are they sending money overseas to assist parents or other family members?
