Introduction to Special Issue Financial and life instability: Obstacles to and opportunities for emerging adult development and future well-being

Abstract

Current global economic instability has exacerbated the challenges of contemporary emerging adulthood and increased the urgency of examining financial instability as a life condition during this life stage. For this special issue, we assembled eight papers from different countries to examine how emerging adults are navigating financial instability. In the current introduction to the special issue, we identified the main themes that emerged from the collected studies: the role of family, emerging adults’ financial self-agency, financial disruptions and wellbeing, and the processes linking financial factors and positive development. Overall, these studies demonstrate that while the overall processes linking finances and development may be similar in different nations, the specificity of each context highlights the need to consider the important role of cultural norms and attitudes. We conclude this introduction, suggesting future research paths and implications for educators and practitioners that provide financial educators programs.