Confident Commitment: Financial Self-Efficacy’s Indirect Association with Romantic Relationship Flourishing Through Financial Behaviors

• Published in: Journal of family and economic issues 2024-03, Vol.45 (1), p.35-44
• Main Authors: Okamoto, Rachel M., Saxey, Matthew T., Wikle, Jocelyn S., LeBaron-Black, Ashley B.
• Format: Article
• Language: English
• Subjects: Adolescents; Adults; Behavior; Couples; Economic well being; Families & family life; Family; Interpersonal relations; Life transitions; Original Paper; Personal relationships; Personality and Social Psychology; Quality; Romantic relationships; Self-efficacy; Social Policy; Social Sciences; Socialization; Sociology; Structural equation modeling; Teachers; Well being
• ISSN: 1058-0476; 1573-3475
• DOI: 10.1007/s10834-023-09903-1

This study examined whether financial behaviors mediate the association between financial selfefficacy and romantic relationship flourishing. Previous research and Family Financial Socialization Theory suggest that financial behaviors may benefit romantic relationship outcomes in emerging adulthood. Previous research also suggests that financial self-efficacy may benefit romantic relationship quality in emerging adulthood. Research has yet to document, however, whether financial self-efficacy may indirectly benefit romantic relationship outcomes through financial behaviors in emerging adulthood. Using data from the Measuring Family Financial Socialization Project ( N  = 1,950 emerging adults), we used structural equation modeling (SEM) to examine whether financial behaviors mediate the association between financial self-efficacy and romantic relationship flourishing. We found that financial self-efficacy was positively and indirectly associated with romantic relationship flourishing, with financial behaviors fully mediating the relationship. In addition to helping emerging adult couples with their financial behaviors, relational educators and clinicians may consider intervening in emerging adult couples’ financial self-efficacy as an indirect relational treatment. Financial educators and parents might help children, adolescents, and emerging adults build financial self-efficacy to benefit not only their future financial wellbeing but also their future relational wellbeing.