Dilworth, J. L., Chenoweth, L. C. & Engelbrecht, J. (2000). A qualitative study of the money
goals of college students and their parents. Financial Counseling and Planning, 11(2), 33-42.


A Qualitative Study Of The Money Goals Of College Students And Their Parents

Jennie Long Dilworth1, Lillian C. Chenoweth2 and JoAnn Engelbrecht3


Parents and their children hold different ideas about financial planning and, specifically, goal-setting. The focus of the present study was to explore the perceived goals for money among a sample
of 75 college students and 75 of their parents. The subjects identified several differing goals based
on stage of life including savings methods, car and house purchases, vacations, credit card and loan
repayments, and money as a means of happiness. An unexpected emphasis on savings was observed
among college students whereas both parents and students de-emphasized debt reduction in their
responses.


Key words: Financial goal-setting, Family life cycle, Future financial expectations


1. Jennie Long Dilworth, Assistant Professor, Department of Family and Consumer Sciences, Georgia Southern University, P. O. Box 8021, Statesboro,
GA, 30460. Phone: 912-681-5420. Fax: 912-486-7087. E-mail: dilworth@gasou.edu


2. Lillian C. Chenoweth, Professor, Department of Family Sciences, Texas Woman’s University, P.O. Box 425769, Denton, Texas 76204. Phone:
940-898-2688. Fax: 940-898-2676 . E-mail: lchenoweth@twu.edu


3. JoAnn Engelbrecht, Associate Professor, Department of Family Sciences, Texas Woman’s University, P.O. Box 425769,
Denton, Texas 76204. Phone:
940-898-2684. Fax: 940-898-2676. E-mail: jengelbrecht@twu.edu