2023/01/01 by Elisabeth Sinnewe, Gavin Nicholson
Business, Management and Accounting · Psychology · Social Sciences · #Accounting #Accounting management #Business #Context (archaeology) #Exploratory research #Finance #Financial Literacy, Pension, Retirement Analysis #Financial literacy #Financial plan #General partnership #Political science #Psychological Well-being and Life Satisfaction #Psychological intervention #Psychology #Public relations #Retirement, Disability, and Employment #Sociology
paper · pdf · doi:10.1111/joca.12512
crossref issued 2023/01/01 · crossref published 2023/01/01 · crossref published-print 2023/01/01 · openalex publication_date 2023/01/01 · crossref created 2023/01/26 · crossref published-online 2023/02/06 · crossref deposited 2023/08/20 · openalex created_date 2025/10/10 · crossref indexed 2026/08/03 · openalex updated_date 2026/08/04
Abstract This paper provides insights into young adults' financial habits and decision‐making considerations as they enter the workforce. We use 28 semi‐structured interviews with Australian university graduates to explore how their motivation to engage with personal finances and their subjective financial literacy, i.e., self‐reported, support healthy financial habits. Our findings show that a young adult's social context and exposure to financial hardship rather than their financial confidence determine the health of their financial habits. We observed research participants in a romantic partnership as more focused on their future. This future focus motivates them to engage more with their finances and manifests as explicit goal setting, formal budgeting, or adherence to strict bucket systems. These insights might be useful for policymakers and educators: social context matters when designing financial health interventions, while financial education programs predominately should aim at demystifying complex long‐term financial decision‐making such as investments and retirement.