Financial-stability-in-family enables the family to access a good home, health care, food, clothes, good education for the children, and other necessities to have a good life-balance
But too many families with young children around the world face persistent financial hardship impacting their well-being, and happiness
Past research consistently indicates that poverty and economic hardship have negative consequences for children. Few studies, however, have examined whether these consequences persist into adulthood.
This study addresses this gap by assessing whether economic resources in the family of origin have long-term effects on psychological well-being in adulthood.
Specifically, we test two processes--one involving interpersonal processes in the family of origin, and the other involving children's socioeconomic attainment--that may help to explain the link between early economic factors and later well-being.
Using 17-year longitudinal data from two generations (N = 589), we find evidence that economic hardship in the family of origin predicts later adult well-being through the parents' marital relationship, the parent-teen relationship, children's educational attainment, and children's earned income.
Supplementary analyses suggest that economic hardship is particularly problematic when it is of long duration or when it occurs during adolescence.
Having a family of your own is amazing but it is very important that you can financially provide your family....
Family without financial-stability suffers a lot, therefore if you want to start your own family or already have a family and if you are not financially stable, I subject that you start a business immediately to create financial stability that you and your family deserve.
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