Youth Allowance and the Financial Position of Young Australians
type="main" xml:lang="en"> This article uses data that follow young Australians to their mid-20s to assess how their views of their financial position change as their circumstances change. Full-time students in receipt of Youth Allowance are the least satisfied about their financial position, even among other students, and experience more financial ‘stress’-related incidents than other young people. Little of these differences from other groups seem to be a consequence of the receipt of Youth Allowance. Furthermore, the differences do not translate into recipients having lower levels of life satisfaction, unlike young people in receipt of other forms of government income support.
Financial Outcomes in Adolescence and Early Adulthood in Australian Longitudinal Data
This article describes and catalogues person‐specific measures of financial outcomes that are available for adolescents and young adults in three large longitudinal Australian surveys: the Longitudinal Surveys of Australian Youth, the Longitudinal Study of Australian Children, and the Household, Income and Labour Dynamics in Australia Survey. It summarises international research that has been conducted on young people's financial outcomes, illustrating outcomes that have been investigated, research questions that have been asked, and distinctions that have been drawn between adolescents and young adults. It considers the strengths and weaknesses of the three surveys for extending this research into the Australian context.
An Exploratory Framework of the Determinants of Financial Satisfaction
This paper presents a description of the development and testing of a framework for understanding the determinants of financial satisfaction. This study used data obtained from a random sample of white-collar clerical workers (N = 220). Direct, as well as indirect, effects on financial satisfaction were identified using a path analysis method. It was determined that financial satisfaction is related, both directly and indirectly, with diverse factors including financial behaviors, financial stress levels, income, financial knowledge, financial solvency, risk tolerance, and education. Findings support the continued and increased use of targeted education initiatives directed at improving the financial literacy and behavior of family and consumer economics constituencies.