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ERIC Number: EJ862628
Record Type: Journal
Publication Date: 2009
Pages: 16
Abstractor: As Provided
Reference Count: 0
ISSN: ISSN-0193-3973
Pathways to Life Success: A Conceptual Model of Financial Well-Being for Young Adults
Shim, Soyeon; Xiao, Jing J.; Barber, Bonnie L.; Lyons, Angela C.
Journal of Applied Developmental Psychology, v30 n6 p708-723 Nov-Dec 2009
The purpose of this study is to describe and test a conceptual model of the potential antecedents and consequences of financial well-being in young adulthood. Data (N = 781) were collected via an online survey conducted at a large state university in the southwestern United States. Our results suggest that self-actualizing personal values, financial education at home, and formal financial education at school may play important anticipatory socialization roles in the ways that young adults acquire knowledge about financial matters and form attitudes and behavioral intentions based on that knowledge. These financial domains, along with parental normative expectations and young adults' perceived behavioral control, were related to their financial well-being, which was in turn related to academic success and overall life satisfaction, as well as psychological and physical health. Theoretical and applied implications are provided. (Contains 2 figures and 6 tables.)
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Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A