Taught, Told or Taboo: Role of ‘Family’ in Financial Socialisation Among Transgender Youth

ABSTRACT Financial socialisation plays a crucial role in shaping financial well‐being, with family functioning as the primary agent during childhood. For transgender persons, who often confront social, economic, educational and health‐related barriers, achieving financial security becomes a vital means of resistance and survival. Research examining the financial socialisation of transgender individuals in developing countries remains limited. This exploratory study draws on qualitative interviews with 38 transgender youth to examine how financial attitudes and behaviours are influenced by familial relationships. Thematic analysis, conducted with a qualitative data analysis software, revealed that acceptance by the family of origin significantly mediates the development of financial knowledge and capabilities. The emergence of the ‘family of choice’ as a source of financial learning is also critical. Participants displayed distinct patterns in spending and saving. The findings highlight the need for a more responsive financial ecosystem tailored to transgender communities, alongside parental counselling services. Enhancing the financial well‐being of transgender individuals is a matter of inclusion. Yet it is also a necessary condition for alleviating poverty.