A Review of Effectiveness Evidence in the<scp>Financial‐Helping</scp>Fields

Dew, Jeffrey P.; Dean, Luke; Duncan, Stephen F.; Britt-Lutter, Sonya

doi:10.1111/fare.12445

Cited by 10 publications

(6 citation statements)

References 49 publications

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“…However, family life education and financial education programs in the past may have underemphasized the importance of couple financial communication (for a review, see Dew et al, 2020). The current study provides some of the first evidence for financial and family life educators to promote couple financial communication in emerging adult couples as one potential means whereby financial deception may decrease.…”

Section: Discussionmentioning

confidence: 99%

Less Than Fully Honest: Financial Deception in Emerging Adult Romantic Relationships

et al. 2022

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Emerging adults lack many basic financial capabilities. To avoid conflict that may come from these deficiencies, some emerging adults may financially deceive their romantic partner. However, little is known about financial deception in emerging adult romantic relationships. Through the lenses of two theoretical frameworks, we test whether financial deception intervenes the associations of couple financial communication, financial socialization, and similarity of financial values with romantic relationship flourishing in a sample of 1,950 U.S. emerging adults. Results indicate that couple financial communication, similarity of financial values, and financial socialization may contribute positively toward romantic relationship flourishing. However, financial socialization and financial deception may contribute negatively toward romantic relationship flourishing. Findings are discussed in light of the theoretical frameworks utilized, implications for clinicians and educators are identified, and directions for future research are presented. In summary, being less than fully honest about finances may have implications for emerging adults in romantic relationships.

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Section: Discussionmentioning

confidence: 99%

Less Than Fully Honest: Financial Deception in Emerging Adult Romantic Relationships

et al. 2022

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“…Many therapy clients and audiences of educational programs struggle with financial and relational problems (Dew, Dean, Duncan, & Britt-Lutter, 2020; Glenn et al, 2019). If financial socialization is associated with romantic relationship flourishing as previous research suggests (Curran et al, 2018; Gibby et al, 2021), such knowledge could provide educators further reason to institute and/or refine financial education and family life education programs.…”

Section: Literature Reviewmentioning

confidence: 99%

From Piggy Banks to Significant Others: Associations Between Financial Socialization and Romantic Relationship Flourishing in Emerging Adulthood

LeBaron‐Black

Saxey

Driggs

et al. 2021

Journal of Family Issues

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While a plethora of research has found that parent financial socialization during childhood and adolescence is linked with financial outcomes in emerging adulthood, recent literature suggests that financial socialization may also impact romantic relationship outcomes in emerging adulthood. Utilizing a sample of 1,950 U.S. emerging adults, we test whether retrospectively recalled parent financial socialization is associated with romantic relationship flourishing and whether this association is mediated by financial behaviors and financial distress. We found that financial socialization was positively associated with financial behaviors and relationship flourishing and was negatively associated with financial distress. Further, financial behaviors partially mediated the association between financial socialization and relationship flourishing, while financial distress did not mediate the association. Together with previous literature, these findings provide useful information for therapists and educators in their pursuit to promote robust parent financial socialization in childhood and adolescence and both financial and relational well-being in emerging adulthood.

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“…We take our definition of sound financial management behavior from the fields of financial advising and financial counseling. Although these two fields focus on different clienteles (higher-net-worth individuals and low-to-moderate-income households, respectively), both fields share a definition of sound financial management behaviors (Dew et al 2020). Within those fields, sound financial management behaviors are those behaviors that will help individuals and families to have and maintain greater financial stability, avoid feelings of economic pressure, and enable them to attain their financial goals (Xiao 2016).…”

Section: Sound Financial Management Behaviormentioning

confidence: 99%

The Longitudinal Associations of Sound Financial Management Behaviors and Marital Quality

2020

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We investigated the association between sound financial management behaviors and marital quality, particularly the direction of the association and a potential mediator. To do this, we used three waves of longitudinal dyadic data that spanned three years from 279 married couples living in a large northwestern city and a longitudinal path analysis that incorporated the Actor-Partner Interdependence Model (Kenny et al. Dyadic data analysis. Guilford, New York City, 2006). Marital satisfaction at T1 was positively associated with sound financial management behavior for husbands; we only found actor effects, though. Wives' T2 reports of sound financial management behavior were directly and negatively associated with their own reports of marital conflict at T3. Husbands' T2 reports of sound financial management behavior was negatively associated with T3 economic pressure, which was positively associated with marital conflict. The indirect association was not statistically significant, however. Keywords Dyadic data • Economic pressure • Financial management behaviors • Longitudinal analyses • Marital qualityAlthough scholars have been examining behaviors that contribute to marital quality for decades (e.g., Glenn 1990), one behavior, sound financial management, has been relatively understudied (Dew and Xiao 2013). Xiao (2016) defined sound financial management behaviors as those behaviors that will help individuals and families "to achieve financial goals and enhance financial wellbeing" (p. 3). We use Xiao's definition for the present study. And although many studies have examined other financial issues vis-à-vis relationship quality (e.g., see Dew 2016 for a review), most have focused on negative financial events (e.g., Conger and Elder 1994) or proxies of sound financial management behaviors such as asset/debt levels or individuals' feelings about their spouses' spending habits (Britt et al. 2017;Gudmunson et al. 2007). That is, not many studies have measured financial * Jeffrey Dew

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A Review of Effectiveness Evidence in theFinancial‐HelpingFields

Cited by 10 publications

References 49 publications

Less Than Fully Honest: Financial Deception in Emerging Adult Romantic Relationships

Less Than Fully Honest: Financial Deception in Emerging Adult Romantic Relationships

From Piggy Banks to Significant Others: Associations Between Financial Socialization and Romantic Relationship Flourishing in Emerging Adulthood

The Longitudinal Associations of Sound Financial Management Behaviors and Marital Quality

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