Financial adaptation among college students: Helping students cope with financial strain

This study examines the impact of the recent financial crisis on co-occurring patterns of change in financial strain and financial coping behaviors of college students (N=748) using two timed, longitudinal data collected prior to the 2008 financial crisis and again one year later. Using a stress and coping framework, we found that different measures of perceived change in financial strain acted as antecedents of change in types of financial coping behaviors. We discuss the importance of these findings in developing the financial decision-making skills that young adults need in an era of increasing responsibility for their financial future.