The Lengthening Transition to Adulthood: Financial Parenting and Recentering during the College-to-Career Transition

Joyce Serido, Ashley B. LeBaron, Lijun Li, Emily Parrott, Soyeon Shim

Research output: Contribution to journalArticlepeer-review

2 Scopus citations

Abstract

Using longitudinal data collected from a college cohort in the United States (N = 922), we examined the associations between systemic and structural factors (gender, race/ethnicity, family SES, and first-generation college status), financial parenting (teaching, and modeling behavior), and emerging adults’ financial behavior. We conducted a series of one-way repeated measure ANOVA analyses (GLM) to assess patterns of average change in financial parenting and financial behavior in the first year in college, fourth year in college, and two years after college and found evidence suggestive of recentering—a gradual transfer of responsibility during emerging adulthood from parent-directed behavior to self-directed behavior; however, the decline in financial parenting was not offset by an improvement in emerging adults’ financial behavior. Despite similar patterns of change, family socioeconomic status (SES), first-generation college student status, and gender influenced both financial parenting and financial behaviors at each time point. We discuss the findings and the implications on the timing and length of the recentering process.

Original languageEnglish (US)
Pages (from-to)1626-1648
Number of pages23
JournalJournal of Family Issues
Volume41
Issue number9
DOIs
StatePublished - Sep 1 2020

Bibliographical note

Funding Information:
https://orcid.org/0000-0001-8010-2143 Serido Joyce 1 https://orcid.org/0000-0002-4980-2659 LeBaron Ashley B. 2 Li Lijun 1 Parrott Emily 3 Shim Soyeon 4 1 Family Social Sciences, University of Minnesota, St. Paul, MN, USA 2 Family Studies and Human Development, University of Arizona, Tucson, AZ, USA 3 Teaching Trust, Dallas, TX, USA 4 School of Human Ecology, University of Wisconsin-Madison, Madison, WI, USA Joyce Serido, Family Social Sciences, University of Minnesota, 290 McNeal Hall, 1985 Buford Avenue, St. Paul, MN 55108, USA. Email: jserido@umn.edu 1 2020 0192513X19894662 © The Author(s) 2020 2020 SAGE Publications Using longitudinal data collected from a college cohort in the United States ( N = 922), we examined the associations between systemic and structural factors (gender, race/ethnicity, family SES, and first-generation college status), financial parenting (teaching, and modeling behavior), and emerging adults’ financial behavior. We conducted a series of one-way repeated measure ANOVA analyses (GLM) to assess patterns of average change in financial parenting and financial behavior in the first year in college, fourth year in college, and two years after college and found evidence suggestive of recentering—a gradual transfer of responsibility during emerging adulthood from parent-directed behavior to self-directed behavior; however, the decline in financial parenting was not offset by an improvement in emerging adults’ financial behavior. Despite similar patterns of change, family socioeconomic status (SES), first-generation college student status, and gender influenced both financial parenting and financial behaviors at each time point. We discuss the findings and the implications on the timing and length of the recentering process. economic issues family processes emerging adult financial socialization recentering parenting quantitative national institute of food and agriculture https://doi.org/10.13039/100005825 Hatch Grant #006781, Hatch Grant #1016923 edited-state corrected-proof typesetter ts1 Declaration of Conflicting Interests The authors declared no potential conflicts of interest with respect to the research, authorship, and/or publication of this article. Funding The authors disclosed receipt of the following financial support for the research, authorship, and/or publication of this article: Funding support for this research was provided to the first author by the USDA National Institute of Food and Agriculture (Hatch Grant #1016923) ORCID iDs Joyce Serido https://orcid.org/0000-0001-8010-2143 Ashley B. LeBaron https://orcid.org/0000-0002-4980-2659

Keywords

  • economic issues
  • emerging adult
  • family processes
  • financial socialization
  • parenting
  • quantitative
  • recentering

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