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Financial Management in Hmong Immigrant Families: Change and Adaptation

Author(s): Pa Nhia D. Yang | Catherine A. Solheim

Journal: Hmong Studies Journal
ISSN 1091-1774

Volume: 8;
Issue: 1;
Start page: 1;
Date: 2008;
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Keywords: Hmong Americans | Asian American Studies | Socioeconomic Adaptation

This study examined family financial management in the Hmong community through the analysis of 11 in-depth interviews with Hmong professionals who worked in the area of finance. The findings revealed that as the Hmong made the transition from an agricultural economy in Laos to the complex economic system in the United States, they have learned to adapt to their environment. First generation immigrants continue to live fairly simple lifestyles and havemaintained their strong value of saving money. The 1.5 generation integrates the Hmong value of saving with their knowledge about the U.S. financial system, resulting in savvy financial investments. The 2nd generation, born and raised in the U.S., has been primarily influenced by the U.S. consumer culture, resulting in perceiving wants as needs. Thus spending is a higher priority than saving.

Tango Jona
Tangokurs Rapperswil-Jona

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