The Role of Financial Identity Processes in Financial Behaviors and Financial Well-Being
Author | Affiliation |
---|---|
Sorgente, Angela | Universita Cattolica del Sacro Cuore |
Lanz, Margherita | Universita Cattolica del Sacro Cuore |
SAGE publications |
Date |
---|
2021 |
Financial identity formed during emerging adulthood is important for the regulation of youth financial behaviors, decisions, and long-term financial goals. This three-wave short-term longitudinal study investigates how youth develop a distinct manner of approaching and managing personal finances and reveals the structure and dynamics of financial identity development during emerging adulthood. Using the cross-lagged panel model analysis, it also investigates longitudinal reciprocal associations between financial identity processes, financial behaviors, and financial well-being of emerging adults. The sample consists of 533 Lithuanian higher education students (56.8% women; Mage ¼ 18.93, SDage ¼ 0.71) who took part in three assessment waves. The findings support the use of the three-factor model of financial identity formation and show that financial identity formation is shaped by emerging adults’ financial situation and contribute to the formation of financial behaviors and financial well-being. Practical implications of study results are also discussed.
Jaunuolių finansinių gebėjimų raidos mechanizmai / DEFINE |
Journal | IF | AIF | AIF (min) | AIF (max) | Cat | AV | Year | Quartile |
---|---|---|---|---|---|---|---|---|
Emerging Adulthood | 1.83 | 3.524 | 2.802 | 3.908 | 3 | 0.515 | 2021 | Q3 |
Journal | IF | AIF | AIF (min) | AIF (max) | Cat | AV | Year | Quartile |
---|---|---|---|---|---|---|---|---|
Emerging Adulthood | 1.83 | 3.524 | 3.524 | 3.908 | 3 | 0.515 | 2021 | Q3 |
Journal | Cite Score | SNIP | SJR | Year | Quartile |
---|---|---|---|---|---|
Emerging Adulthood | 2.8 | 1.067 | 0.485 | 2021 | Q2 |