Abstract
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 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.
Original language | English (US) |
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Pages (from-to) | 215-226 |
Number of pages | 12 |
Journal | Journal of Personality Assessment |
Volume | 105 |
Issue number | 2 |
DOIs | |
State | Published - 2023 |
Bibliographical note
Funding Information:This research was funded by the European Social Fund under the No. 09.3.3-LMT-K-712 “Development of Competencies of Scientists, Other Researchers, and Students through Practical Research Activities” measure. Grant recipient: Rimantas Vosylis. Grant no: 09.3.3-LMTK-712-19-0214.
Publisher Copyright:
© 2022 Taylor & Francis Group, LLC.
PubMed: MeSH publication types
- Journal Article
- Research Support, Non-U.S. Gov't