Does parental job insecurity matter? Money anxiety, money motives, and work motivation

  • Lim V
  • Sng Q
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Abstract

A structural model focusing on the spillover effect of parental perceived job insecurity on money anxiety was developed and tested. The crossover effect of parents' money anxiety on their children's money anxiety, money motives, and motivation to work was also examined. Data were collected from a sample of undergraduates and their parents. Results of structural equation modeling analyses supported a spillover effect of paternal perceived job insecurity on paternal money anxiety. However, maternal perceived job insecurity was not significantly associated with maternal money anxiety. Results also supported a crossover effect of parental money anxiety on youths' money anxiety. Youths' money anxiety was significantly related to youths' negative money motives. In turn, youths' negative money motives were associated with their intrinsic motivation to work. Implications of the findings are discussed.

Author-supplied keywords

  • Crossover mechanism
  • Money anxiety
  • Money attitudes
  • Parental job insecurity
  • Spillover mechanism

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