Becoming Financially Self-Sufficient: Developing a Need-Supportive and Need-Thwarting Scale for Financial Parenting of Emerging Adults
Author | Affiliation | |
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Taylor and Francis |
Date |
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2022 |
The shift in the parent-child relationship during the transition to adulthood presumes that emerging adults progress toward financial self-sufficiency. Research indicates that financial parenting contributes to success in this transition, and these effects extend beyond the financial domain. Nevertheless, there is a lack of theory-based tools to measure relevant financial parenting aspects. By applying the six dimensions of interpersonal behaviors outlined in the Self-Determination Theory (SDT), the current study develops a scale targeting the interpersonal style of financial parenting. To validate the scale, it also tests seven preregistered hypotheses predicting internal structure and associations with relevant external variables in a sample of 600 emerging adults (Mage =24.94, SDage=3.03, range 19–29 years; 52.3% women). The sample, diverse in occupational status characteristics, was recruited from an online survey panel using the controlled quota sampling strategy. While study results provide modest evidence for a hypothesized six-factor structure and advocate instead for a more parsimonious two-dimensional one, results provide evidence for the new scale’s convergent, discriminant, criterion, and incremental validity. This is the first study that brings SDT into family financial socialization research and opens a new line of research on family financial socialization, achievement of financial self-sufficiency, and emerging adults’ wellbeing.
Tampant finansiškai savarankišku: psichologinio augimo ir sąstingio veiksniai finansinės priklausomybės kontekste (LEAF) |
Lietuvos mokslo taryba |
Journal | IF | AIF | AIF (min) | AIF (max) | Cat | AV | Year | Quartile |
---|---|---|---|---|---|---|---|---|
JOURNAL OF PERSONALITY ASSESSMENT | 3.4 | 3.8 | 3.7 | 3.9 | 2 | 0.887 | 2022 | Q2 |
Journal | IF | AIF | AIF (min) | AIF (max) | Cat | AV | Year | Quartile |
---|---|---|---|---|---|---|---|---|
JOURNAL OF PERSONALITY ASSESSMENT | 3.4 | 3.8 | 3.8 | 3.9 | 2 | 0.887 | 2022 | Q2 |
Journal | Cite Score | SNIP | SJR | Year | Quartile |
---|---|---|---|---|---|
Journal of Personality Assessment | 6.4 | 1.862 | 1.271 | 2022 | Q1 |