Rimantas Vosylis

A robust body of research provides evidence of a strong connection between identity development and age-related functioning. A sense of financial identity may be an important precursor of adult self-sufficiency. For this reason, the study of financial identity (i.e., the answer to the question “Who am I from a financial point of view?”) as a domain-specific component of identity development during the transition to adulthood is a timely and important topic worldwide. In order to properly investigate the financial identity domain, a reliable and valid instrument is needed. The aim of the current study is to test both a variable-centered model and a person-centered model of the 12-item Financial Identity Scale in an international sample of 4,960 emerging adults from ten different countries: Austria, Finland, Hungary, India, Italy, Lithuania, Portugal, Romania, Slovenia, and the United States. The variable-centered model of the Financial Identity Scale suggests that the 12 items measure four latent factors, each corresponding to a different identity status: achievement, foreclosure, diffusion, and moratorium. Confirmatory factor analysis confirmed this model in seven out of ten countries, and approximate measurement invariance indicated that Financial Identity Scale scores were comparable across these countries. The person-centered model of the Financial Identity Scale suggests that the four statuses of financial identity present three different configurations in the population: pathfinders, followers, and drifters. The latent profile analysis conducted in the current study identified four distinct profiles, the first three of which correspond to those in the original model, and a fourth which was labelled “Indecisive”. Theoretical and practical implications of these findings are discussed.

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.

The present study focuses on the role of family support to young adult children during COVID‐19 in ameliorating the negative financial impact of the pandemic. Guided by the Conservation of Resources (COR) Theory of stress and coping, we conceptualize the negative financial impact due to COVID‐19 as a source of financial stress that would be associated with lower levels of both financial wellbeing and positive outlook of young adults. We rely on data collected from a multinational sample of young adults (ages 18–30) from six countries (China, Italy, Lithuania, Portugal, Slovenia, US; N = 2102) over a 3‐month period (July 2020–September 2020). We tested the potential effects of two types of support (i.e., parental financial support and family emotional support) using path analysis. While we find a consistent positive association between family emotional support and both financial wellbeing and positive outlook, we also find a consistent negative association between parental financial support and financial wellbeing, and a nonsignificant or negative association (Lithuania only) with a positive outlook. The significant interaction between COVID‐19 financial impact and family emotional support on young adults' positive outlook reveals that the benefit of family emotional support is more evident when the negative financial impact is low or moderate. We discuss the implications of these findings in assisting young adults to cope with financial disruptions.

Young adulthood (18–30 years old) is a crucial period due to its developmental tasks such as career establishment and financial independence. However, young adults’ relative lack of resources makes them vulnerable to employment disruptions (job loss and income loss), which may have both immediate and long-term effects on their financial wellbeing and mental health. The economic impact of COVID-19 restrictions resulted in an increase in unemployment and a decrease in income worldwide, especially for young adults. This study examined to what extent and how job loss and income loss due to the pandemic influenced young adults’ perception of their present financial wellbeing, future financial wellbeing, and psychological wellbeing by using cross-sectional survey data collected from six countries (China, Italy, Lithuania, Portugal, Slovenia, and the United States). Results showed that the impact of income loss and job loss on all three types of wellbeing were mediated by young adults’ negative perception of the COVID-19 lockdown restriction (i.e., perceived as a misfortune). Cross-country differences existed in the key variables. The association between employment disruptions, young adults’ perception of the COVID-19 lockdown restriction, and wellbeing were equivalent across countries except China. Implications for policy and practice are discussed.

Background: The prolonged transitions to adulthood strengthen interest in parenting characteristics that can shape emerging adults’ development and progression to full-fledged adulthood. It also strengthens interest in instruments suitable for measuring such parenting characteristics. The current study contributes to this area of research by applying the Interpersonal Behavior Questionnaire (IBQ), to assess parenting behaviors that are pertinent for emerging adults’ development and wellbeing, and seeks evidence of its dimensional structure and criterion validity. Method: The sample of the study consisted of 600 emerging adults (M_age = 24.94, SD_age = 3.03, range 19–29 years; 52.3% women). The dimensionality of IBQ was assessed by testing a sequence of theoretically plausible models representing alternative factor score structures. Criterion validity was investigated by exploring the associations between the IBQ dimensions and basic psychological need satisfaction and frustration, negative affectivity, and thriving. Results: The findings provide evidence of a hypothesized six-factor structure, but advocate for the use of exploratory structural equation as it may more accurately reflect associations between the six dimensions. Findings also provide evidence of criterion validity. Conclusions: The findings indicate that IBQ applied to parenting targets dimensions highly relevant for EAs’ flourishing or impoverished functioning. Findings also offer evidence of structure and criterion validity for the IBQ applied to emerging adults’ parent behaviors. As such, researchers may find IBQ attractive, as it is relatively concise yet also a holistic measure that captures the behaviors that both support and thwart an emerging adult’s need for autonomy, competence, and relatedness. Findings also shed light on the process of becoming an adult, the shift in parent–child relationships during this process, and emerging adults’ wellbeing.

Although emerging adults (i.e., individuals aged 18–29 years old) may be at a lesser risk of COVID-19 severe illness and mortality, studies have found that the negative impact of COVID-19 on mental health and well-being is higher among emerging adults when compared to other age groups. The current study aimed to identify profile(s) based on resilience resources, which could help emerging adults in managing the disruptions to their lives following the pandemic. A cross-national sample of 1,768 emerging adults from China, Italy, Lithuania, Portugal, Slovenia, and the US was utilized to identify profiles based on different resilience dimensions (ego-resiliency, positivity, religiosity, socioeconomic status, family support, peer support). Results of the Latent Profile Analysis suggest the presence of four different profiles: no resources, only peer, only family, and well-equipped. The association of these profiles with demographic variables, adulthood markers, self-perceived COVID-19 impact, present well-being, and future life perception was investigated. Implications for resilience theory as well as for future interventions are discussed.

This study aimed to identify profiles of achievement goal orientations and transitions between these profiles among adolescents from different socioeconomic backgrounds before and during the Covid-19 pandemic. A sample of 1268 adolescents (51.7% females; M_age = 14.87; SD_age = 0.39) participated in four waves of data collection: One took place pre-pandemic (at the start of 9th grade) and three took place during the Covid-19 pandemic. Latent transition analyses revealed four profiles of achievement goal orientations at each study wave: moderately motivated, success-oriented, mastery-oriented, and unmotivated. Most adolescents remained in the same profile or transitioned to a similar one across subsequent study waves. However, some more substantive, mostly unfavourable patterns of transitions between the profiles were also observed, especially among highly motivated adolescents. The latter patterns coincided with pandemic-related online learning periods. Results also showed a large motivational disadvantage among students from socioeconomically disadvantaged backgrounds, which was particularly pronounced before the pandemic, but remained salient throughout the study.

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 (M_age =24.94, SD_age = 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.

The present research examined the association of perceived impact of COVID-19 on emerging adults’ perceptions of their future and the potential mediating role of intolerance of uncertainty on these associations. Specifically, we investigated the associations of perceived financial impact, needed resource impact, and psychological impact on perceptions of future life and financial future. Using online survey data from emerging adults (N = 1768) living in six countries (China, Italy, Lithuania, Portugal, Slovenia, and USA), we found that the perceived dimension of impact (i.e., finances, needed resources, and psychological) was negatively associated with perceptions of future life and financial future, despite mean level differences by country. The ability to tolerate uncertainty was a significant mediator only for psychological impact. We conclude the article with suggestions for applying our findings in the design of future interventions.