TY - JOUR
T1 - Young Adults’ Life Outcomes and Well-Being
T2 - Perceived Financial Socialization from Parents, the Romantic Partner, and Young Adults’ Own Financial Behaviors
AU - Curran, Melissa A.
AU - Parrott, Emily
AU - Ahn, Sun Young
AU - Serido, Joyce
AU - Shim, Soyeon
N1 - Funding Information:
Funding This study was funded by the National Endowment of Financial Education and the Take Charge of America Institute at the University of Arizona.
Publisher Copyright:
© 2018, Springer Science+Business Media, LLC, part of Springer Nature.
PY - 2018/9/1
Y1 - 2018/9/1
N2 - We examined how perceived financial socialization—from parents, the romantic partner, and young adults’ own behavior—was associated with young adults’ life outcomes and well-being (i.e., physical and mental health, finances, romantic relationship). Using data (N = 504) from young adults specific to their finances, results from hierarchical regression analyses showed that young adults’ own financial behaviors were the most patterned, followed by financial socialization from the romantic partner, and then from financial socialization from parents (only objective financial knowledge). We discuss how young adults’ financial behavior, financial socialization from the romantic partner and, to a lesser extent, parental socialization are associated with young adults’ life domains, underscoring the developmental salience of increased financial capability and relationship formation and decreased dependence on parents during the transition to adulthood.
AB - We examined how perceived financial socialization—from parents, the romantic partner, and young adults’ own behavior—was associated with young adults’ life outcomes and well-being (i.e., physical and mental health, finances, romantic relationship). Using data (N = 504) from young adults specific to their finances, results from hierarchical regression analyses showed that young adults’ own financial behaviors were the most patterned, followed by financial socialization from the romantic partner, and then from financial socialization from parents (only objective financial knowledge). We discuss how young adults’ financial behavior, financial socialization from the romantic partner and, to a lesser extent, parental socialization are associated with young adults’ life domains, underscoring the developmental salience of increased financial capability and relationship formation and decreased dependence on parents during the transition to adulthood.
KW - Financial socialization
KW - Parenting young adults
KW - Transition to adulthood
KW - Young adult financial behavior
KW - Young adult romantic partner
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U2 - 10.1007/s10834-018-9572-9
DO - 10.1007/s10834-018-9572-9
M3 - Article
AN - SCOPUS:85044081241
SN - 0161-570X
VL - 39
SP - 445
EP - 456
JO - Lifestyles
JF - Lifestyles
IS - 3
ER -