scholarly journals Parental Financial Education During Childhood and Financial Behaviors of Emerging Adults

2020 ◽  
Vol 31 (1) ◽  
pp. 42-54
Author(s):  
Ashley B. LeBaron ◽  
Erin K. Holmes ◽  
Bryce L. Jorgensen ◽  
Roy A. Bean
Keyword(s):  
Emerging Adulthood ◽  
Emerging Adults ◽  
Financial Management ◽  
Financial Education ◽  
Financial Behaviors ◽  
Interaction Variable ◽  
Linear Regressions ◽  
Management Behaviors

The purpose of this article was to determine whether overt financial education from parents during childhood (retrospective measure collected in the same survey wave) is associated with a greater frequency of healthy financial management behaviors in emerging adulthood, and whether this relationship is dependent on gender. Using a sample of emerging adults from the Flourishing Families dataset (N = 437), we ran two multivariate linear regressions—one with and one without the interaction variable. Results suggest that financial education from parents during childhood is linked with a greater frequency of healthy financial behaviors in emerging adulthood but was not dependent on gender. Financial educators should involve parents when teaching children about money, and they should educate parents on how to teach their children about money.

scholarly journals Parental Financial Education During Childhood and Financial Behaviors of Emerging Adults

2020 ◽  
pp. JFCP-18-00021 ◽  
Author(s):  
Ashley B. LeBaron ◽  
Erin K. Holmes ◽  
Bryce L. Jorgensen ◽  
Roy A. Bean
Keyword(s):  
Emerging Adulthood ◽  
Emerging Adults ◽  
Financial Management ◽  
Financial Education ◽  
Financial Behaviors ◽  
Interaction Variable ◽  
Linear Regressions ◽  
Management Behaviors

The purpose of this article was to determine whether overt financial education from parents during childhood (retrospective measure collected in the same survey wave) is associated with a greater frequency of healthy financial management behaviors in emerging adulthood, and whether this relationship is dependent on gender. Using a sample of emerging adults from the Flourishing Families dataset (N = 437), we ran two multivariate linear regressions—one with and one without the interaction variable. Results suggest that financial education from parents during childhood is linked with a greater frequency of healthy financial behaviors in emerging adulthood but was not dependent on gender. Financial educators should involve parents when teaching children about money, and they should educate parents on how to teach their children about money.

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.

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.

scholarly journals Personal Financial Management Behaviors during the Covid-19 Pandemic: Evidence from Vietnam.

2021 ◽  
Vol 7 (04) ◽  
Author(s):  
LE Thanh Tam ◽  
Nguyen Thi Ha Trang ◽  
Ngo Thi Ngoc Anh ◽  
Ngo Thi Thu Mai
Keyword(s):  
Financial Management ◽  
Pearson Correlation ◽  
Financial Education ◽  
Well Being ◽  
Financial Knowledge ◽  
Management Behavior ◽  
Factors Affecting ◽  
Management Capability ◽  
Management Capacity ◽  
Management Behaviors

This paper is aimed at investigating the factors affecting personal financial management behaviors in Vietnam during the Covid-19 pandemic. With data of interviewing online 477 individuals, the research team used the reliability test with Cronbach’s Alpha, exploratory factor analysis (EFA), Pearson correlation analysis’s results, and linear OLS model. The key findings are: First, four factors have strong impacts on personal financial management behavior are: (i) Covid-19 pandemic; (ii) Financial habits from parents; (iii) Financial education from parents; (iv) Financial well-being. Of which, the factor of socialization has been separated in to “financial habits from parents”, and “financial education from parents”. Second, differently from previous studies, two variables of financial knowledge and financial attitude have no impact on personal financial management behavior. These differences come from the special characteristics of Vietnam culture: First, parents are the main financial sources for the youth, and also the model of financial management for children. Second, as financial management capacity building courses are not much available in Vietnam, people depend on family own’s experiences to build up their financial management behaviors. Basing on the results, the recommendations are focusing on improving financial management capability of parents in order to improve individual financial management capacity.

Millennials as Emerging Adults

2018 ◽  
Author(s):  
Barbara J. Risman
Keyword(s):  
Social Science ◽  
Emerging Adulthood ◽  
Human Development ◽  
Emerging Adults ◽  
21St Century ◽  
Millennial Generation ◽  
Historical Context ◽  
Growing Up ◽  
Traditional Beliefs ◽  
Gender Revolution

This chapter begins by providing a historical context for the Millennial generation. Growing up is different in the 21st century than before; it takes much longer. Given how many years youth take to explore their identities before they emerge into adulthood with stable jobs and committed partners, the chapter reviews what we now about “emerging adulthood” as a stage of human development. The chapter also highlights a debate in social science as to whether Millennials are entitled narcissists or a new civically engaged generation that will re-energize America. The chapter concludes with an overview of another debate, whether Millennials are pushing the gender revolution forward or returning to more traditional beliefs.

Parent and Grandparent Relationships in Emerging Adulthood

2018 ◽  
Author(s):  
Michael W. Pratt ◽  
M. Kyle Matsuba
Keyword(s):  
Emerging Adulthood ◽  
Attachment Theory ◽  
Emerging Adults ◽  
Family Relationships ◽  
Longitudinal Research ◽  
Study Data ◽  
Family Development ◽  
Data Set ◽  
Theory Framework

Chapter 7 begins with an overview of Erikson’s ideas about intimacy and its place in the life cycle, followed by a summary of Bowlby and Ainsworth’s attachment theory framework and its relation to family development. The authors review existing longitudinal research on the development of family relationships in adolescence and emerging adulthood, focusing on evidence with regard to links to McAdams and Pals’ personality model. They discuss the evidence, both questionnaire and narrative, from the Futures Study data set on family relationships, including emerging adults’ relations with parents and, separately, with grandparents, as well as their anticipations of their own parenthood. As a way of illustrating the key personality concepts from this family chapter, the authors end with a case study of Jane Fonda in youth and her father, Henry Fonda, to illustrate these issues through the lives of a 20th-century Hollywood dynasty of actors.

scholarly journals Can Supportive Siblings Protect against the Risk that Stress from Feelings of Alienation with Parents and Peers Poses to Mental Health in Emerging Adulthood?

2021 ◽  
pp. 0192513X2199385
Author(s):  
Muna Osman ◽  
Dave Miranda
Keyword(s):  
Mental Health ◽  
Psychological Distress ◽  
Emerging Adulthood ◽  
Emerging Adults ◽  
Structural Equation ◽  
Protective Factor ◽  
Moderated Mediation ◽  
Equation Modeling ◽  
Moderated Mediation Model ◽  
Two Samples

Feelings of alienation with parents and peers can lead to psychological distress, possibly because such feelings are stressful. Supportive siblings are known to foster mental health in youth, but research in emerging adulthood is limited. We hypothesized supportive sibling climate as a protective factor in the risks that stress from parent and peer alienation poses to psychological distress among emerging adults. A proposed moderated-mediation model was tested, across three samples, using latent moderated mediation structural equation modeling. Results indicated that parental and peer alienation were associated with more psychological distress, and stress partially mediated the link between parental (but not peer) alienation and psychological distress in two samples. However, a supportive sibling climate was not protective as it did not moderate the links among alienation, stress, and psychological distress. In sum, siblings seem beneficial, but perhaps it is not sufficient to protect emerging adults’ mental health against stress from parent and peer alienation.

Moving Into the Media World: The Moral Psychology of Emerging Adults in Journalism and Communication

2021 ◽  
pp. 107769582199224
Author(s):  
David A. Craig ◽  
Patrick Lee Plaisance ◽  
Erin Schauster ◽  
Ryan J. Thomas ◽  
Chris Roberts ◽  
...  
Keyword(s):  
Emerging Adulthood ◽  
Emerging Adults ◽  
Moral Psychology ◽  
Online Survey ◽  
Moral Identity ◽  
Ethical Ideology ◽  
Transitional Stage ◽  
Virtuous Character ◽  
Recent Graduates ◽  
The Media

A growing body of psychology-based scholarship identifies emerging adulthood as a distinct, transitional stage of life and work characterized by several features, wherein relatively little is known regarding moral development. This study is part of a 3-year, longitudinal project involving recent graduates across six U.S. universities who studied journalism and media-related fields. Guided by emerging adulthood, moral psychology, and media exemplar research, this study analyzes results for 110 graduates who completed an online survey regarding their personality traits, virtuous character, moral reasoning, and ethical ideology. It constitutes the first detailed portrait of moral identity of emerging adults in media-related fields.

Struggling to make ends meet: can consumer financial behaviors improve?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Lisa K. Meneau ◽  
Janakiraman Moorthy
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Group Analysis ◽  
Self Control ◽  
Thinking Styles ◽  
Financial Health ◽  
Content Type ◽  
Financial Behaviors ◽  
Financial Products ◽  
The Impact

PurposeThe purpose of the study is to examine the following two research objectives. The first was to examine the predictive relationships that consumer characteristics of financial literacy, thinking styles and self-control have with a consumer's financial behaviors. The second goal was to ascertain financial management products' ability to aid those consumers who need it the most by weakening the predictive effects of consumer traits on financial behaviors.Design/methodology/approachThe study employed a web-based survey to gather information. The measurement and structural models were analyzed using generalized structured component analysis (GSCA), a component-based structural equation model. The mediation effect of self-control is assessed using the GSCA. The conditional mediation of demographic variables and use of personal financial management products are evaluated using multi-group analysis (MGA) in GSCA.FindingsAntecedents, financial literacy, thinking styles and self-control consumer characteristics are predictors of financial behaviors. However, self-control plays a more prominent role as a mediator between the other variables, strengthening the overall relationship. Also, financial products can have a beneficial moderation effect assisting those consumers who need them the most.Practical implicationsThese insights help in creating target specific financial literacy strategies to influence consumers' financial behaviors. Also, there is a need to develop mechanisms to influence a consumer's self-control and thinking styles to improve financial behavior. In conjunction with other initiatives, the impact of financial literacy has a greater effect on financial behaviors. Further, the insights assist financial institutions and financial technology firms in offering and creating products to help customers make better financial decisions and improve their financial behaviors.Social implicationsThe research addressed a significant global issue – consumer financial health. The Great Recession and the COVID-19 recession highlight the need to focus on the consumer and efforts to improve their financial health.Originality/valueThis research highlighted the mediating role of self-control and suggested that existing and future financial products can positively influence consumer behavior drivers.

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