Using the Expectancy-Value Theory to Understand Emerging Adult’s Financial Behavior and Financial Well-Being

Sarah A. Burcher; Joyce Serido; Sharon Danes; Jessie Rudi; Soyeon Shim

doi:10.1177/2167696818815387

Using the Expectancy-Value Theory to Understand Emerging Adult’s Financial Behavior and Financial Well-Being

Sarah A. Burcher
, Joyce Serido
, Sharon Danes
, Jessie Rudi
, Soyeon Shim

Family Social Science

Research output: Contribution to journal › Article › peer-review

28 Scopus citations

Abstract

Using expectancy-value theory as a framework, we examined the independent effects of both early parental and personal financial expectations and values on emerging adults’ later financial behaviors and financial well-being during the college-to-career transition. Data were collected at three time points over 8 years from a cohort of college-educated emerging adults (N = 754 participants from a larger longitudinal study). The main finding showed that emerging adults’ personal expectations and values, but not parental values or expectations, predicted the financial behaviors they practiced in college; early parental expectations predicted financial well-being after leaving college. The financial behaviors practiced in college were associated with subsequent financial well-being. Finally, college financial behavior mediated the effect of early personal values on subsequent financial well-being, but not personal financial expectations. We discuss the findings in regard to facilitating emerging adults college-to-career transition.

Original language	English (US)
Pages (from-to)	66-75
Number of pages	10
Journal	Emerging Adulthood
Volume	9
Issue number	1
DOIs	https://doi.org/10.1177/2167696818815387
State	Published - Dec 26 2018

Bibliographical note

Funding Information:
The authors received following receipt of financial support for the research, authorship, and/or publication of this article: This article is funded by National Endowment for Financial Education, National Institute of Food and Agriculture, and Citi Foundation.

Publisher Copyright:
© 2018 Society for the Study of Emerging Adulthood and SAGE Publishing.

Keywords

emerging adults
expectations
financial behavior
financial well-being
internal and external motivators
values

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10.1177/2167696818815387

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abstract = "Using expectancy-value theory as a framework, we examined the independent effects of both early parental and personal financial expectations and values on emerging adults{\textquoteright} later financial behaviors and financial well-being during the college-to-career transition. Data were collected at three time points over 8 years from a cohort of college-educated emerging adults (N = 754 participants from a larger longitudinal study). The main finding showed that emerging adults{\textquoteright} personal expectations and values, but not parental values or expectations, predicted the financial behaviors they practiced in college; early parental expectations predicted financial well-being after leaving college. The financial behaviors practiced in college were associated with subsequent financial well-being. Finally, college financial behavior mediated the effect of early personal values on subsequent financial well-being, but not personal financial expectations. We discuss the findings in regard to facilitating emerging adults college-to-career transition.",

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AU - Danes, Sharon

AU - Rudi, Jessie

AU - Shim, Soyeon

N1 - Funding Information: The authors received following receipt of financial support for the research, authorship, and/or publication of this article: This article is funded by National Endowment for Financial Education, National Institute of Food and Agriculture, and Citi Foundation. Publisher Copyright: © 2018 Society for the Study of Emerging Adulthood and SAGE Publishing.

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Using the Expectancy-Value Theory to Understand Emerging Adult’s Financial Behavior and Financial Well-Being

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