“How Safe is Financial Safety Net?” Level and Form of Parental Financial Support and Its Role in Need-Supportive and Need-Thwarting Parenting and Well-Being of Emerging Adults

Abstract

Many parents continue to provide financial assistance to their emerging adult children, which has particular links with emerging adults’ well-being. The current study examined how form and level of parental financial support shape need-supportive and -thwarting parenting and well-being of emerging adults. Participants in this short-term longitudinal study were 600 Lithuanian emerging adults (M age = 24.94, SD age = 3.03, range 19–29 years; 52.3% females), recruited from online survey panel using the controlled quota sampling strategy. The latent profile analysis identified four profiles characterizing dependence on parental financial support: entirely dependent, mostly dependent, dependent on direct support, and financially self-sufficient. Reliance on both employment income and parental support was linked to unfavorable parenting and poorer well-being, while reliance only on direct support was linked to more favorable parenting and well-being. The findings demonstrate the importance of differentiating between forms of parental financial support.