It’s All in the Family: Parents’ Economic Worries and Youth’s Perceptions of Financial Stress and Educational Outcomes

Abstract

Perceived economic stress and lower subjective social status (SSS) have adverse effects on parents’ and adolescents’ emotional well-being, but less is known about associations with academic adjustment among preadolescent youth. This study examined associations between SSS, perceived economic stress about needs and wants, and academic adjustment among preadolescents and early adolescents (n = 136, ages 8 to 14 years, 44% girls, 61% White) and their parents (n = 164, majority middle- to higher SES). Overall, youth who worried more about their family’s economic needs had lower academic achievement and youth who reported lower SSS had lower academic motivation. No significant differences were observed in the strength of associations between parent and youth perceptions and academic outcomes for early adolescents versus preadolescents.