TY - JOUR
T1 - Emerging Adults’ Financial Well-being: A Scoping Review
AU - Sorgente, Angela
AU - Lanz, Margherita
PY - 2017
Y1 - 2017
N2 - The financial crisis of 2008 has led to an
increase in the number of studies on the financial condition
of the younger generations. The current review maps the
literature on the financial well-being of emerging adults in
different disciplines (i.e., Economics, Sociology, Psychology)
to systematically summarize and organize the scientific
knowledge about their financial well-being by identifying
this construct’s definition, components, predictors, and
outcomes. Electronic databases were searched for Englishlanguage
studies that measured the financial well-being (or
its synonyms) variable and referred to emerging adults (18–
29 years). A total of 44 records were found eligible. The
mapping of the coded data was organized into five sections:
(1) publication, (2) research aim, (3) the financial wellbeing
construct, (4) data collection, and (5) the relationships
among variables. The collected information revealed
that financial well-being is a complex and multidimensional
construct, as emphasized in financial well-being’s
definition and components. The hierarchical relationship
between financial well-being, financial wellness, financial
health, financial satisfaction, and income satisfaction was
clarified. The predictors of financial well-being were organized
into 10 different categories and located in 4 quadrants
generated by two axes: level (individual vs contextual) and
domain (financial vs non-financial). Finally, research gaps
and future research directions were described.
AB - The financial crisis of 2008 has led to an
increase in the number of studies on the financial condition
of the younger generations. The current review maps the
literature on the financial well-being of emerging adults in
different disciplines (i.e., Economics, Sociology, Psychology)
to systematically summarize and organize the scientific
knowledge about their financial well-being by identifying
this construct’s definition, components, predictors, and
outcomes. Electronic databases were searched for Englishlanguage
studies that measured the financial well-being (or
its synonyms) variable and referred to emerging adults (18–
29 years). A total of 44 records were found eligible. The
mapping of the coded data was organized into five sections:
(1) publication, (2) research aim, (3) the financial wellbeing
construct, (4) data collection, and (5) the relationships
among variables. The collected information revealed
that financial well-being is a complex and multidimensional
construct, as emphasized in financial well-being’s
definition and components. The hierarchical relationship
between financial well-being, financial wellness, financial
health, financial satisfaction, and income satisfaction was
clarified. The predictors of financial well-being were organized
into 10 different categories and located in 4 quadrants
generated by two axes: level (individual vs contextual) and
domain (financial vs non-financial). Finally, research gaps
and future research directions were described.
KW - economic well-being
KW - emerging adulthood
KW - financial health
KW - financial satisfaction
KW - financial well-being
KW - financial wellness
KW - economic well-being
KW - emerging adulthood
KW - financial health
KW - financial satisfaction
KW - financial well-being
KW - financial wellness
UR - http://hdl.handle.net/10807/93542
UR - http://link.springer.com/article/10.1007/s40894-016-0052-x
U2 - 10.1007/s40894-016-0052-x
DO - 10.1007/s40894-016-0052-x
M3 - Article
SN - 2363-8346
VL - 2
SP - 255
EP - 292
JO - Adolescent Research Review
JF - Adolescent Research Review
ER -