Talking about money is taboo

Alsemgeest, Liezel

doi:10.1177/0950422216670065

Cited by 11 publications

(5 citation statements)

References 28 publications

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“…A lack of international collaboration also implies a lack of understanding of the role of culture in determining young adults’ financial well-being, since country-wise comparison remains lacking in available studies. For example, certain financial practices such as communication about money (an important component of financial planning) are viewed as taboo practice in certain countries (Alsemgeest, 2016) while in other countries this may not necessarily be the case. Therefore, future researchers are encouraged to collaborate and investigate young adults’ financial well-being in developing countries and make suitable between- and within-comparisons across developing and developed countries.…”

Section: Discussion Gaps and Future Research Agendamentioning

confidence: 99%

Young adults' financial well-being: current insights and future directions

She

Waheed

Lim

et al. 2022

IJBM

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PurposeFinancial well-being among young adults is an emerging and important field of research. This study aims to shed light on the current insights and future directions for young adults’ financial well-being research.Design/methodology/approachA systematic review was performed using (1) the Preferred Reporting Items for Systematic Reviews and Meta-Analyses protocol to curate the corpus and (2) the bibliometric-content analysis technique to review that corpus on young adults’ financial well-being research.FindingsYoung adults’ financial well-being is influenced by contextual factors such as changes in macroeconomic environment, market factors, technological advancement and financial social comparisons, as well as personal factors such as sociodemographics, personality traits and values, skills and attitudes, financial practices, financial socialization, lifestyles and early life experiences, and subjective financial situation and mental health. Noteworthily, interest in this field is growing with a plethora of journals, countries, authors, theories, methods and measures.Research limitations/implicationsSeveral noteworthy gaps exist in the literature on young adults’ financial well-being, which include the lack of international collaboration, the lack of interventions to improve young adults’ financial well-being, the limited range of theoretical lenses, the limited consensus on measuring young adults’ financial well-being, the limited understanding of contextual factors, and the inconsistencies between personal factors and young adults’ financial well-being. Potential ways forward are proposed to address these gaps.Originality/valueThis review contributes to a seminal synthesis of young adults’ financial well-being research, providing both retrospective insights and prospective ways forward.

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Section: Discussion Gaps and Future Research Agendamentioning

confidence: 99%

Young adults' financial well-being: current insights and future directions

She

Waheed

Lim

et al. 2022

IJBM

View full text Add to dashboard Cite

show abstract

“…Although perceived access to financial resources is a diversity, equity, and inclusion issue (e.g., socioeconomic status), compared to conversations on making organizations more inclusive in terms of sex, race, or ability, it is much less prevalent. One possible reason is that personal finances are heuristically viewed as a private matter (Alsemgeest, 2016), making it difficult to understand how one's finances could impact others. We reveal a bottom‐line case for why organizations should care about their employees’ financial well‐being: leaders’ experiences of financial insecurity undermine their teams’ adaptive performance.…”

Section: Discussionmentioning

confidence: 99%

The cost of leader personal financial insecurity: implications for adaptive team performance

Spoelma

2023

Personnel Psychology

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In light of a global pandemic, rising inflation, and stock market uncertainty, many across the globe are experiencing financial insecurity. We build on an emerging line of research to explore the mechanisms through which leaders’ personal financial insecurity impacts the teams they lead. We draw on compensatory control theory to theorize that leaders’ personal financial insecurity has a negative indirect effect on adaptive team performance because more insecurity is associated with less perceived personal control, to which leaders respond by implementing a more hierarchical decision‐making authority structure in their teams. Integrating the social identity theory of leadership, we theorize that this effect is stronger when the leaders are more prototypical of their team. Evidence from three multi‐wave, multi‐source field studies including leaders and their teams and an online experiment supports our model. By uncovering how a leader's perceived financial state impacts those they lead, our work adds to the growing bottom‐line case for why organizations should care about supporting their employees’ financial health.

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“…The higher prevalence of sharing volunteer activity on Facebook could be attributed to the proportion of the Australian population who participate in each activity; approximately 30% volunteer (Volunteering Australia, 2021) compared with 3% who donate blood (White et al, 2017). Unsurprisingly, sharing volunteer and blood donation activity was considered almost twice as more socially acceptable than sharing donations of money, given the societal taboo around openly talking about money (Alsemgeest, 2016). This was further reflected in significantly lower online advocacy among money donors compared with blood donors and volunteers.…”

Section: Anova By Type Of Donation (H8)mentioning

confidence: 99%

Understanding Contextual Determinants of Likely Online Advocacy by Millennial Donors

Chell

Mortimer

Dang

et al. 2023

Nonprofit and Voluntary Sector Quarterly

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Increasing online advocacy by donors has important implications for nonprofit organizations (NPOs). Through a lens of self-disclosure theory, this current research combines data across three quantitative cross-sectional surveys of millennial Australian donors who donate blood, time, and/or money to better understand how NPOs can encourage existing donors to engage in greater online advocacy. Findings demonstrate (a) the importance of social norms and psychological involvement in online advocacy decisions, (b) that “firm-generated” marketing effectiveness can vary by the content provided by NPOs, and (c) that not all donation types are equal when encouraging donors to be advocates. The work contributes by broadening the scope of existing models of online brand advocacy to a donation context by examining “firm-generated user-shared” content and millennials’ social media use for prosocial behaviors.

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Talking about money is taboo

Cited by 11 publications

References 28 publications

Young adults' financial well-being: current insights and future directions

Young adults' financial well-being: current insights and future directions

The cost of leader personal financial insecurity: implications for adaptive team performance

Understanding Contextual Determinants of Likely Online Advocacy by Millennial Donors

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