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106 Parental Support to Emerging Adults During COVID-19: A Help or a Hindrance?
Key Words
parental financial support, emerging adulthood, pandemic, financial well-being, thriving
Short Description
For emerging adults, the effects of the pandemic may be particularly disruptive, as they transition from dependence on family to independent adult functioning (Arnett, 2014). Even before the pandemic, a changing and uncertain economy saw many emerging adults relying on parents for continued economic and emotional support (Cobb-Clark & Ribar, 2012; Fingerman et al., 2016). The purpose of this study is to investigate the role of family support to emerging adults (both financial and emotional) weathering a pandemic. We posit that positive family support provides a “safe haven” for weathering the disruptions to life due to the pandemic, conceptualized as the impact of COVID-19 on three aspects of emerging adults’ daily life (financial, resource, and psychological). We conceptualized emerging adult thriving as multiple domains of wellbeing (current and future finances, positivity, psychological) and two types of family support: emotional and financial support. Results showed that the negative impacts of COVID-19 in all three dimensions predicted lower levels of emerging adults’ psychological wellbeing, financial wellbeing, and positivity; family emotional support was positively related to wellbeing and positivity; however, family financial support led to lower levels of all outcome variables.