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.

Linking Family Financial Socialization With Its Proximal and Distal Outcomes: Which Socialization Dimensions Matter Most for Emerging Adults’ Financial Identity, Financial Behaviors, and Financial Anxiety?

2019 ◽  
Vol 8 (6) ◽  
pp. 464-475 ◽  
Author(s):  
Rimantas Vosylis ◽  
Rasa Erentaitė
Keyword(s):  
Emerging Adults ◽  
Financial Distress ◽  
Cross Sectional Study ◽  
Self Control ◽  
Financial Socialization ◽  
Cross Sectional ◽  
Financial Behaviors ◽  
Financial Anxiety ◽  
Parental Teaching ◽  
Financial Identity

Financial behaviors are grounded in family financial socialization, and its effects continue well into people’s life course. However, only a handful of studies have addressed dimensionality of family financial socialization practices. Even fewer studies have investigated how different dimensions of financial socialization are linked to financial identity and distal outcomes such as financial behaviors and anxiety. To address this gap, a cross-sectional study was conducted with 481 emerging adults (57.8% women; M age = 20.27, SD age = 1.39). The results suggest that family financial socialization practices are multidimensional and that they have different effects on the outcomes. Specifically, direct parental teaching on money management and openness about family finances are related to favorable outcomes (i.e., higher spending self-control, less impulsive buying, and lower financial anxiety), while experiencing financial distress within a family is related to less favorable outcomes. The results also suggest that financial identity may play an essential role in this process.

Failure to Grow Up, Failure to Pay? Parents’ Views of Conflict Over Money With Their Emerging Adults

2019 ◽  
Vol 41 (3) ◽  
pp. 359-382
Author(s):  
Katie Lowe ◽  
Jeffrey J. Arnett
Keyword(s):  
Emerging Adulthood ◽  
Emerging Adults ◽  
Emerging Adult ◽  
Well Being ◽  
National Sample ◽  
Financial Socialization ◽  
Theoretical Frameworks ◽  
Parental Concerns ◽  
Intergenerational Ambivalence ◽  
Relationship Factors

Grounded in the theoretical frameworks of emerging adulthood and intergenerational ambivalence, parental concerns about their child’s attainment of adulthood was investigated as the focal predictor of the likelihood of monetary conflict between American parents and emerging adults. A national sample of 791 parents (51% female; 73% White) of emerging adults (18-29 years old) completed surveys. Results showed that 43% of parents experienced monetary conflict with their emerging adult, and one in five were “very concerned” that their child would not attain adulthood. Additionally, the odds of monetary conflict were 3.11 times higher when parents endorsed greater concerns about attaining adulthood (e.g., might never become fully adult). This association was the strongest beyond key demographic, parental well-being, and parent–emerging adult relationship factors. Findings help illuminate the basis of monetary conflict in emerging adulthood and indicate parents’ fears of “failure to launch” may have very real consequences, suggesting implications for financial socialization.

The Role of Financial Identity Processes in Financial Behaviors and Financial Well-Being

2021 ◽  
pp. 216769682110161
Author(s):  
Rimantas Vosylis ◽  
Angela Sorgente ◽  
Margherita Lanz
Keyword(s):  
Identity Development ◽  
Emerging Adulthood ◽  
Identity Formation ◽  
Emerging Adults ◽  
Factor Model ◽  
Well Being ◽  
Financial Behaviors ◽  
Identity Processes ◽  
Study Results ◽  
Financial Identity

Financial identity formed during emerging adulthood is important for the regulation of youth financial behaviors, decisions, and long-term financial goals. This three-wave short-term longitudinal study investigates how youth develop a distinct manner of approaching and managing personal finances and reveals the structure and dynamics of financial identity development during emerging adulthood. Using the cross-lagged panel model analysis, it also investigates longitudinal reciprocal associations between financial identity processes, financial behaviors, and financial well-being of emerging adults. The sample consists of 533 Lithuanian higher education students (56.8% women; M age = 18.93, SD age = 0.71) who took part in three assessment waves. The findings support the use of the three-factor model of financial identity formation and show that financial identity formation is shaped by emerging adults’ financial situation and contribute to the formation of financial behaviors and financial well-being. Practical implications of study results are also discussed.

How Does Financial Life Shape Emerging Adulthood? Short-Term Longitudinal Associations Between Perceived Features of Emerging Adulthood, Financial Behaviors, and Financial Well-Being

2020 ◽  
pp. 216769682090897
Author(s):  
Rimantas Vosylis ◽  
Theo Klimstra
Keyword(s):  
Emerging Adulthood ◽  
Emerging Adults ◽  
Well Being ◽  
Early Years ◽  
Short Term ◽  
Financial Behaviors ◽  
Financial Difficulties ◽  
Life Tasks ◽  
Financial Domain ◽  
Parental Socioeconomic Status

Becoming independent from parental financial support and developing financial capabilities are important life tasks in emerging adulthood (EA). However, research on how the accomplishment of these tasks contributes to perceptions of EA features is rare. This study investigates how functioning in the financial domain shapes perceptions of EA features during the early years of EA. Participants in this short-term longitudinal study were 533 emerging adults (57.2% women; M age = 18.94, SD age = .73, range 18–21 years) freshly enrolled into a set of programs at three higher education institutions. Results show that (a) financial well-being promotes more desirable (perceived) EA features, while financial difficulties tend to be related to more negative ones; (b) change in economic dependence is primarily driven by financial well-being; (c) (perceived) features of EA also contribute to how one functions in financial life; and (d) parental socioeconomic status plays at least some role in these matters.

Factors Related to Phone Snubbing Behavior in Emerging Adults

2020 ◽  
pp. 164-187 ◽  
Author(s):  
Martina Benvenuti ◽  
Agata Błachnio ◽  
Aneta Małgorzata Przepiorka ◽  
Vesela Miroslavova Daskalova ◽  
Elvis Mazzoni
Keyword(s):  
Gender Differences ◽  
Emerging Adulthood ◽  
Emerging Adults ◽  
Internet Addiction ◽  
Well Being ◽  
Self Esteem ◽  
Self Control ◽  
The Internet ◽  
Control Scale ◽  
Online Study

Smartphones are a fundamental part of emerging adults' life. The aim of this chapter is to determine which factors play a role in “phubbing” during emerging adulthood as well as to propose and test a model of this phenomenon. We tested a model of relations between phubbing, self-esteem, self-control, well-being, and internet addiction. The following measures were used: the Rosenberg Self Esteem Scale, the Brief Self-Control Scale (BSCS), the Flourishing Scale, the Internet Addiction Scale, and the Phubbing Scale. The participants in the online study were 640 Italian emerging adults (526 females and 114 males), ranging in age from 18 to 29 (M = 21.7, SD = 2.18). The results showed that the model was well fitted, particularly in postulating that a decrease in the level of self-control is related to an increase in Internet addiction, that an increase in Internet addiction increases the probability of phubbing behavior, and that the level of self-esteem and well-being do not affect Internet addiction. Gender differences, in favor of males, occurred only in self-esteem.

scholarly journals Well-Being and Romantic Relationships: A Systematic Review in Adolescence and Emerging Adulthood

2019 ◽  
Vol 16 (13) ◽  
pp. 2415 ◽  
Author(s):  
Mercedes Gómez-López ◽  
Carmen Viejo ◽  
Rosario Ortega-Ruiz
Keyword(s):  
Systematic Review ◽  
Romantic Relationships ◽  
Emerging Adulthood ◽  
Emerging Adults ◽  
Meta Analysis ◽  
Well Being ◽  
The Other ◽  
The One ◽  
Definition Of ◽  
The Relationship

Adolescence and emerging adulthood are both stages in which romantic relationships play a key role in development and can be a source of both well-being and negative outcomes. However, the limited number of studies prior to adulthood, along with the multiplicity of variables involved in the romantic context and the considerable ambiguity surrounding the construct of well-being, make it difficult to reach conclusions about the relationship between the two phenomena. This systematic review synthesizes the results produced into this topic over the last three decades. A total of 112 studies were included, following the Preferred Reporting Items for Systematic Review and Meta-Analysis Protocols (PRISMA-P) guidelines. On the one hand, these works revealed the terminological heterogeneity in research on well-being and the way the absence of symptoms of illness are commonly used to measure it, while on the other hand, they also showed that romantic relationships can be an important source of well-being for both adolescents and emerging adults. The findings underline the importance of providing a better definition of well-being, as well as to attribute greater value to the significance of romantic relationships. Devoting greater empirical, educational, and community efforts to romantic development in the stages leading up to adulthood are considered necessary actions in promoting the well-being of young people.

Romantic Relationships and the Transition to Work

2021 ◽  
pp. 107-124
Author(s):  
José F. Domene ◽  
Sarah M. Johnson
Keyword(s):  
Romantic Relationships ◽  
Emerging Adulthood ◽  
Emerging Adults ◽  
Work Experience ◽  
Romantic Relationship ◽  
Emerging Adult ◽  
Transition To Work ◽  
The World ◽  
Relationship Factors

In this chapter, the authors address intersections between romantic relationship factors and the transition to work experience. They briefly summarize the nature of romantic relationships during emerging adulthood and then review research conducted around the world, which reveals that these two aspects of a person’s life are closely intertwined during emerging adulthood. They describe the ways romantic relationship development and career development have been found to influence each other and the concerns that many emerging adults have about balancing their goals in these two areas of life. Drawing on this literature, they make several recommendations for practitioners who are assisting emerging adults to make an optimal transition to work in the context of their romantic relationships. Finally, the authors use a case study, drawn from research conducted by the first author, to illustrate how the principles discussed in this review can manifest in the lives of one emerging adult couple.

On the Horizon

2014 ◽  
Author(s):  
Brian J. Willoughby ◽  
Jason S. Carroll
Keyword(s):  
Emerging Adulthood ◽  
Emerging Adults ◽  
Adult Development ◽  
Well Being ◽  
Future Directions ◽  
Marital Transitions ◽  
Research Findings ◽  
Demographic Shifts ◽  
Theory Research ◽  
Age Of Marriage

This chapter overviews marriage formation patterns and beliefs about marriage during emerging adulthood. Although marriage is no longer a transition occurring during emerging adulthood for many individuals, this chapter describes how marriage still has an important impact on emerging adult development and trajectories. The authors first note the major international demographic shifts in marriage that have occurred among emerging adults over the past several decades. They then highlight how research findings on beliefs about marriage have offered evidence that how emerging adults perceive their current or future marital transitions is strongly associated with other decisions during emerging adulthood. The chapter overviews major theoretical advancements in this area including marital paradigm theory and marital horizon theory. Research is summarized focusing on the age of marriage to highlight and discuss how marriage during emerging adulthood may impact well-being. Suggestions are provided for future directions of research in this area of scholarship.

scholarly journals ADHD, financial distress, and suicide in adulthood: A population study

2020 ◽  
Vol 6 (40) ◽  
pp. eaba1551 ◽  
Author(s):  
Theodore P. Beauchaine ◽  
Itzhak Ben-David ◽  
Marieke Bos
Keyword(s):  
Financial Distress ◽  
Self Report ◽  
Swedish Population ◽  
Financial Outcomes ◽  
Credit Access ◽  
Financial Behaviors ◽  
Hyperactivity Disorder ◽  
Default Rates ◽  
Outstanding Debt ◽  
Credit Data

Attention-deficit/hyperactivity disorder (ADHD) exerts lifelong impairment, including difficulty sustaining employment, poor credit, and suicide risk. To date, however, studies have assessed selected samples, often via self-report. Using mental health data from the entire Swedish population (N = 11.55 million) and a random sample of credit data (N = 189,267), we provide the first study of objective financial outcomes among adults with ADHD, including associations with suicide. Controlling for psychiatric comorbidities, substance use, education, and income, those with ADHD start adulthood with normal credit demand and default rates. However, in middle age, their default rates grow exponentially, yielding poor credit scores and diminished credit access despite high demand. Sympathomimetic prescriptions are unassociated with improved financial behaviors. Last, financial distress is associated with fourfold higher risk of suicide among those with ADHD. For men but not women with ADHD who suicide, outstanding debt increases in the 3 years prior. No such pattern exists for others who suicide.

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