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Do College Students’ Financial Behaviors Portend Progress Toward Adult Self-sufficiency?
Short Abstract
The purpose of this study is to examine the association between the financial behaviors of young adults’ and pathways to markers of adult self-sufficiency. The present study relies on a unique longitudinal panel study of financial attitudes, behaviors and well-being collected from a cohort of college students (N= 977) at three points in time: first year in college, fourth year of college, and two years after college. Using latent growth-curve modeling to identify the distinct longitudinal trajectories, we found three distinct patterns of financial behaviors. Each pattern demonstrated differing associations with specific markers of adult status and career status. The implications of the findings for a successful transition to adult self-sufficiency in a soft labor market are discussed.