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The purpose of this study was to identify consumption behaviors among children and to examine the differences according to sociodemographic characteristics, factors related to allowance, and parents' consumer socialization function perceived by children. The data were collected from 291 elementary school students in Busan. The results of this study were as follows. First, regarding parents' consumer socialization function perceived by children, the level of child's participation and influence in consumption decision-making was the highest, whereas the level of parent-child communication about consumption was the lowest. Second, consumption behaviors among children were identified into 5 groups: impulsive consumption group, rational allowance management group, friend-dependent purchase group, planned purchase group, and effective goods management group. There were significant difference among them according to child's sex, allowance amount, allowance frequency, parents' guidance about allowance usage, parents' check after allowance usage, and 3 categories of parents' consumer socialization function perceived by children. These results imply that consumer education for parents should be developed and activated to improve consumer socialization function of parents.