RT info:eu-repo/semantics/article
T1 Sustainable debt behaviour and well-being of young adults: The role of parental financial socialisation process
A1 Betancort Montesinos, Moisés
A1 Cwynar, Andrzej
A1 Cwynar, Wiktor
A1 Baryła-Matejczuk, Monika
K1 debt
K1 debt behaviour
K1 financial socialisation
K1 parental socialisation
K1 financial literacy
K1 debt literacy
K1 well-being;
K1 young adults
AB Literature shows that parental financial socialisation plays an important role in attainingfinancial literacy as well as in shaping sustainable financial behaviours and that both translateinto increased well-being indicators and financial security on micro- and macroeconomic levels.However, debt literacy and debt behaviour seem to be unique. Very little is known about thechildhood financial socialisation process through which adults’ sustainable debt behaviour is shapedand how debt behaviour may affect well-being. This study tests a hierarchical model of childhoodfinancial socialisation consisting of five levels: the anticipatory parental socialisation, and later lifefinancial learning outcomes (particularly, debt literacy levels), financial attitudes, debt behaviour,and well-being. Using data collected from a purposive sample of young adult Poles (N = 600) during the period from 10 to 13 November 2018 and employing structural equation modelling, we have found evidence confirming the hierarchical relationship of literacy–attitude–behaviour. Our data do not support, however, either the hypothesised positive relationship between parental socialisationand objectively measured debt literacy or the assumed relationships between debt behaviour andwell-being indicators. We posit that country-specific factors related to generational differencesentailed by system-wide transition and the specificity of debt behaviour, respectively, are key forexplaining these empirical deviations from the assumed conceptual framework. Finally, we foundno significant differences between the models estimated separately for maternally conditioned andpaternally conditioned respondents.
YR 2019
FD 2019
LK http://riull.ull.es/xmlui/handle/915/39894
UL http://riull.ull.es/xmlui/handle/915/39894
LA en
DS Repositorio institucional de la Universidad de La Laguna
RD 08-ene-2025