Young Adults’ Life Outcomes and Well-Being: Perceived Financial Socialization from Parents, the Romantic Partner, and Young Adults’ Own Financial Behaviors

2018 ◽  
Vol 39 (3) ◽  
pp. 445-456 ◽  
Author(s):  
Melissa A. Curran ◽  
Emily Parrott ◽  
Sun Young Ahn ◽  
Joyce Serido ◽  
Soyeon Shim
Keyword(s):  
Young Adults ◽  
Well Being ◽  
Romantic Partner ◽  
Financial Socialization ◽  
Life Outcomes ◽  
Financial Behaviors

From Piggy Banks to Significant Others: Associations Between Financial Socialization and Romantic Relationship Flourishing in Emerging Adulthood

2021 ◽  
pp. 0192513X2110575
Author(s):  
Ashley B. LeBaron-Black ◽  
Matthew T. Saxey ◽  
Toby M. Driggs ◽  
Melissa A. Curran
Keyword(s):  
Emerging Adulthood ◽  
Emerging Adults ◽  
Financial Distress ◽  
Romantic Relationship ◽  
Well Being ◽  
Childhood And Adolescence ◽  
Financial Socialization ◽  
Financial Outcomes ◽  
Financial Behaviors ◽  
Relationship Outcomes

While a plethora of research has found that parent financial socialization during childhood and adolescence is linked with financial outcomes in emerging adulthood, recent literature suggests that financial socialization may also impact romantic relationship outcomes in emerging adulthood. Utilizing a sample of 1,950 U.S. emerging adults, we test whether retrospectively recalled parent financial socialization is associated with romantic relationship flourishing and whether this association is mediated by financial behaviors and financial distress. We found that financial socialization was positively associated with financial behaviors and relationship flourishing and was negatively associated with financial distress. Further, financial behaviors partially mediated the association between financial socialization and relationship flourishing, while financial distress did not mediate the association. Together with previous literature, these findings provide useful information for therapists and educators in their pursuit to promote robust parent financial socialization in childhood and adolescence and both financial and relational well-being in emerging adulthood.

Numeracy’s Secret Connection with Life Outcomes

2020 ◽  
pp. 101-114
Author(s):  
Ellen Peters
Keyword(s):  
Chronic Disease ◽  
Critical Role ◽  
Well Being ◽  
General Intelligence ◽  
Life Outcomes ◽  
Financial Behaviors ◽  
Math Ability ◽  
Personal Finances ◽  
Numeracy Skills

This chapter, “Numeracy’s Secret Connection with Life Outcomes,” reviews available evidence for numeracy’s relations with outcomes in health, employment, and personal finances. Less numerate people tend to be less healthy than the highly numerate, with a 40% greater likelihood, for example, of having at least one chronic disease. Numeracy skills also are required for many jobs, ranging from engineering and science to service and sales workers, but research on this topic is limited. Numeracy strongly predicts financial behaviors and wealth, over and above general intelligence. Although people say “I’m not a math person” as casually as “I hate broccoli,” math ability appears to play a critical role in their well-being.

“Being Able to Support Yourself”: Young Adults’ Meaning of Financial Well-Being Through Family Financial Socialization

2018 ◽  
Vol 40 (2) ◽  
pp. 250-268 ◽  
Author(s):  
Jennifer K. Rea ◽  
Sharon M. Danes ◽  
Joyce Serido ◽  
Lynne M. Borden ◽  
Soyeon Shim
Keyword(s):  
Young Adults ◽  
Well Being ◽  
Financial Socialization

Factors Mediating the Association Between Financial Socialization and Well-Being of Young Adults: Testing a Conceptual Framework

2021 ◽  
pp. JFCP-20-00056
Author(s):  
Lu Fan ◽  
Narang Park
Keyword(s):  
Young Adults ◽  
Conceptual Framework ◽  
Financial Management ◽  
Structural Equation ◽  
Well Being ◽  
Financial Behavior ◽  
Equation Modeling ◽  
Financial Socialization ◽  
Subjective Well Being ◽  
Management Behavior

This study establishes an integrated conceptual framework to examine the influences of financial socialization on young adults’ financial and subjective well-being. Using the National Financial Well-Being Survey and structural equation modeling methods with a national sample of young adults aged 18–35, this study highlights two key potential influences of financial socialization: (a) early financial socialization experience is directly and positively associated with young adults’ financial knowledge and financial motivations (goal-oriented financial planning and self-control ability) and (b) there are indirect and positive associations between financial socialization and young adults’ perceived financial skill, financial behavior, and financial and subjective well-being. Moreover, perceived financial skill significantly mediates the relationship between financial motivations and financial management behavior and could indirectly influence financial and subjective well-being. Finally, this study also finds positive associations among financial management behavior, financial well-being, and subjective well-being of young adults.

The well-being of young adults in the “Next America”.

2015 ◽  
Vol 85 (5, Suppl) ◽  
pp. S4-S13
Author(s):  
Paul Taylor
Keyword(s):  
Young Adults ◽  
Well Being
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