Arizona pathways to life success for university students (APLUS): Cultivating positive financial attitudes and behaviors for healthy adulthood

Many college graduates will enter young adulthood poised for success. Some may stumble at first, and still others will fall. What sets them on different pathways? To answer this question, we’ve started a landmark longitudinal research study to look at the connections between financial success and well-being in a diverse group of first-year college students: Arizona Pathways to Life Success for University Students (APLUS). APLUS examines the factors that help shape students’ financial attitudes and behaviors and, in turn, how those attitudes and behaviors affect their current and future success in life. Using data from 2,000+ students, this report summarizes our findings to date regarding how students spend their time and money, financial literacy and practices, debt management and well-being

Using American Indian Legends to Teach Youths Financial Literacy: Innovative Approaches to Cultural Adaptation

In this article, we report on pilot implementation of a financial education program for American Indian (AI) youths. Our purpose is to share our experience engaging AI youths in a culturally relevant experience in which they learn financial education concepts. Specifically, we incorporated Ojibwe legends into lesson content to connect Ojibwe culture to the information being taught. We report a combination of quantitative survey data and qualitative observational notes that overall suggest evidence of success regarding effectively engaging AI youths in financial education. Our approach may be of particular interest to Extension educators working with youths from culturally underserved audiences

The Role of Families in Supporting Social and Emotional Learning

This archival publication may not reflect current scientific knowledge or recommendations. Current information available from the University of Minnesota Extension: https://www.extension.umn.edu.This peer-reviewed series of issue briefs is designed to help people understand, connect and champion social and emotional learning in a variety of settings and from a variety of perspectives

Financial Influences Impacting Young Adults’ Relationship Satisfaction: Personal Management Quality, Perceived Partner Behavior, and Perceived Financial Mutuality

In this study, we investigated the extent to which young adults’ (n=274) personal financial management quality and perceived partners’ financial behavior were associated – both directly and indirectly via perceived financial mutuality – with relationship satisfaction in committed relationships. The study was grounded in Social Exchange Theory (SET). A path analysis revealed that perceived partner’s financial behavior had a direct association with perceived financial mutuality, which, in turn, had a direct association with relationship satisfaction. In contrast, the participant’s financial management quality and relationship satisfaction were not directly associated nor was they indirectly associated through perceived financial mutuality. Perceived financial mutuality had the largest effect on relationship satisfaction. These findings indicate that perceived financial mutuality plays a key role both directly and as a mediator on relationship satisfaction for these young adults. The implications of the findings provide insights for designing preventive financial strategies early in romantic relationships

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

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.This item from the UA Faculty Publications collection is made available by the University of Arizona with support from the University of Arizona Libraries. If you have questions, please contact us at [email protected]

The impact of a mobile phone-delivered digital financial education program on financial behavior among Hispanics

We explored the potential of digital financial education programs among Hispanic populations, through the design and evaluation of a mobile phone delivered digital program called Mind Your Money (MYM). This program sought to improve financial knowledge and behavior among low- to-moderate income Hispanics residing in the Greater Los Angeles area. We assessed the program through a randomized controlled trial with a wait-list control group. Our digital financial education program had a higher retention rate than comparable in-person financial coaching programs. We found that our program had a positive statistical significant effect on financial capability. Participants who completed program activities were more likely to have a budget/spending plan and felt more confident about their ability to pay for unexpected expenses

Financial Adaptation Among College Students: Helping Students Cope with Financial Strain

This study examines the impact of the recent financial crisis on co-occurring patterns of change in financial strain and financial coping behaviors of college students (N=748) using two-timed, longitudinal data collected prior to the 2008 financial crisis and again one year later. Using a stress and coping framework, we found that different measures of perceived change in financial strain acted as antecedents of change in types of financial coping behaviors. We discuss the importance of these findings in developing the financial decision-making skills that young adults need in an era of increasing responsibility for their financial futur

Perception of COVID-19 on the Employment and well-being Among Young Adults

Faculty advisor: Abigail Gewirtz; Research PI: Joyce SeridoDuring emerging adulthood (EA, 18-30 years old), individuals are expected to become financially self-sufficient, and the most common pathway is through employment. Many EAs were struggling to secure stable employment. As a result, EAs are taking longer to become financially self-sufficient and many continue to rely on family financial support in the third decade of life. The economic impact of COVID-19 restrictions on employment made it even more difficult for EAs. Specifically, many young workers lost their job, meanwhile some others are still employed but had significant income loss. The current study examined the impact of job loss and income loss due to COVID-19 on EAs worldwide by collecting data from 2,282 participants across six countries. Guided by the stress appraisal theory and life course theory, we conceptualized COVID-19 as a turning point, which created stressors such as job loss and income loss that disrupted the lives of EAs. We found that stressors such as job loss and income loss are associated with psychological well-being as well as general and future financial well-being. Specifically, this association was mediated by EAs’ primary appraisal, which was indicated by whether they perceived the pandemic as an opportunity or misfortune

How culturally unique are pandemic effects? Evaluating cultural similarities and differences in effects of age, biological sex, and political beliefs on COVID impacts

Despite being bio-epidemiological phenomena, the causes and effects of pandemics are culturally influenced in ways that go beyond national boundaries. However, they are often studied in isolated pockets, and this fact makes it difficult to parse the unique influence of specific cultural psychologies. To help fill in this gap, the present study applies existing cultural theories via linear mixed modeling to test the influence of unique cultural factors in a multi-national sample (that moves beyond Western nations) on the effects of age, biological sex, and political beliefs on pandemic outcomes that include adverse financial impacts, adverse resource impacts, adverse psychological impacts, and the health impacts of COVID. Our study spanned 19 nations (participant N = 14,133) and involved translations into 9 languages. Linear mixed models revealed similarities across cultures, with both young persons and women reporting worse outcomes from COVID across the multi-national sample. However, these effects were generally qualified by culture-specific variance, and overall more evidence emerged for effects unique to each culture than effects similar across cultures. Follow-up analyses suggested this cultural variability was consistent with models of pre-existing inequalities and socioecological stressors exacerbating the effects of the pandemic. Collectively, this evidence highlights the importance of developing culturally flexible models for understanding the cross-cultural nature of pandemic psychology beyond typical WEIRD approaches

Appraisal and interpersonal stressors: Untangling the stress process

To understand variations in the stress response, two separate research traditions have developed: one that focuses on appraisal and the other on stressors. Research on stressors informs our understanding of the social conditions that expose individuals to potentially stressful situations, whereas research on appraisal informs our understanding of why different people respond to stressors in different ways. The present study seeks to integrate findings from these two research traditions and extend our understanding of the stress process by investigating the possibility those variations in sources of stress trigger different appraisals. In addition, this study also attempts to untangle the separate effects of appraisal and stressor by examining each construct at a more granular level than has previously been undertaken. Finally, this study examines the relationships between stressors and appraisal to understand how they may, in combination, influence distress. The data for these analyses are merged from the National Survey of Midlife Development in the United States (MIDUS) and the National Study of Daily Experiences (NSDE). The MIDUS participants are a representative sample of 3032 adults aged 25 to 74 obtained through a random-digit dialing process. The NSDE participants are a subsample of 1031 participants from the MIDUS. The participants for the present study are the 534 men and women who participated in the NSDE who experienced at least one interpersonal tension during the 8-day telephone diary. Results from multilevel modeling analyses indicated that there was more within-person variability in appraisal of interpersonal tensions than between-person variability. Findings from this study also provide empirical support that stressors and appraisal are separate constructs with independent effects on distress. Further, there are multiple pathways through which dimensions of appraisal and attributes of the stressor in combination influence distress