About the project

Achieving financially self-sufficiency is one of critical independence-related tasks during emerging adulthood and also one of the key criteria that emerging adults see necessary, in order for a person to be considered as an adult. However, achieving financial self-sufficiency requires having sufficient financial capabilities or financial practices and appropriate financial attitudes, grounded in financial knowledge.

Financial capabilities, or at least some aspects of these capabilities (e.g. financial literacy, financial attitudes and habits), have been studied for quite a while now. However, to date, very little research has been conducted on the development of financial capabilities in adolescence and emerging adulthood. In addition, research on the development of psychological aspects of financial capabilities (e.g. financial self-efficacy) and healthy financial behaviors is also rather scarce. Finally, there is little knowledge on how various aspects of parent-child relationships (e.g. parenting styles or separation-individuation) moderate the effect of family financial socialization practices on financial capabilities. This study contributes to the scientific study of financial capabilities in several ways. First, based on the author’s knowledge, this is the first study that aims at uncovering developmental trajectories of financial capabilities. Second, it focuses on inter-individual differences in intra-individual change of financial capabilities, as well as predictors of that change. Third, it attempts to uncover the impact of family financial socialization processes and their interaction with various aspects of parent-child relationships on the change of financial capabilities.

The main goal of DEFINE project is to uncover patterns of financial capability development in emerging adulthood. To achieve this goal one key task will be accomplished: to evaluate the development of financial capabilities during the first two years of finishing school, identifying main trajectories and key factors related family financial socialization that drive that change. Planned duration of the study project is 24 months. Two main work packages are foreseen in order to achieve the goal of the project.



This research is funded by the European Social Fund under the No 09.3.3-LMT-K-712 “Development of Competences of Scientists, other Researchers and Students through Practical Research Activities” measure

Project number: Nr. 09.3.3-LMT-K-712-02-0156