Financial parenting, financial coping behaviors, and well-being of emerging adults

Joyce Serido, Soyeon Shim, Anubha Mishra, Chuanyi Tang

Research output: Contribution to journalArticlepeer-review

84 Scopus citations

Abstract

The goal of this study was to consider the role of parents in the development of their children's financial independence by the time the children are old enough to enter college. Using data from 2,098 first-year university students, we examined two pathways to emerging adults' financial, psychological, and personal well-being, combining research on the positive effects of family financial environment and future-oriented coping behaviors. Two findings are of particular note. The quality of parent-child communication regarding financial topics proved to be the most potent predictor of children's financial, psychological, and personal well-being. Further, parents' expectations had a significant indirect influence (via financial coping behaviors) on their children's well-being. Implications for promoting financial self-sufficiency among young adults are discussed.

Original languageEnglish (US)
Pages (from-to)453-464
Number of pages12
JournalFamily relations
Volume59
Issue number4
DOIs
StatePublished - Oct 2010

Keywords

  • Adolescent development
  • Family stress and coping
  • Financial coping
  • Financial parenting
  • Parent-child relations

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