Flourishing and Floundering Financially in Emerging Adulthood: An handbook

Emerging adults throughout the world are struggling financially, yet the financial domain is a key aspect of the transition to adulthood. This is an evidence-based, application-centered handbook that offers insight on how to help emerging adults flourish rather than flounder financially. In Part I, we discuss theoretical models of financial literacy and explore how each element of financial literacy operates in emerging adulthood. In Part II, we dive into the unique financial circumstances experienced as emerging adults strive to achieve markers of adulthood. In Part III, we recognize the diverse backgrounds and circumstances that profoundly influence emerging adults’ financial literacy, such as socioeconomic vulnerability and gender. In Part IV, we discuss how to improve emerging adults’ financial literacy: through parent financial socialization and financial education. We conclude by summarizing the research on financial literacy during emerging adulthood and providing direction for future research, education, and practice.