Izvorni znanstveni članak
https://doi.org/10.2478/crebss-2023-0004
Exploring the impact of family stressors on financial behavior: A study of Croatian youth
Dajana Barbić
; Sveučilište u Zagrebu, Ekonomski fakultet
Irena Palić
orcid.org/0000-0002-7525-0640
; Sveučilište u Zagrebu, Ekonomski fakultet
Andrea Lučić
; Sveučilište u Zagrebu, Ekonomski fakultet
Sažetak
This paper examines the relationship between family stressors and subsequent financial behavior of young individuals in Croatia. Previous research indicates that family stressors are associated with increased levels of financial stress, resulting in impulsive purchases, risky financial behavior, and increased debt. More specifically, family stressors during youth are shown to significantly affect an individual's financial behavior later in life. Research has shown that youth family stressors, such as poverty, parental divorce, and parental unemployment, can lead to financial stress and affect financial behavior in adulthood. This paper provides an illustrative review of the Family Stress Model (FSM) framework to understand how family stressors influence youngsters in the financial domain. Using regression modeling, we estimate that family stress significantly impacts the financial behavior of young individuals in Croatia. Specifically, the study finds that family stress is negatively associated with responsible financial behavior. These findings have important implications for policymakers and practitioners, particularly those involved in financial education and family support programs, highlighting the need to address family stress as a potential risk factor for poor financial outcomes among young individuals. It is important to recognize the relationship between youth family stressors and financial behavior and work on managing both to improve financial well-being in adulthood.
Ključne riječi
family stressors; financial behavior; regression analysis; youth
Hrčak ID:
306017
URI
Datum izdavanja:
13.7.2023.
Posjeta: 941 *