Missing the Mark
The Importance of Financial Anxiety in Financial Skills Training for Foster Youth
Bibliographic Data
| ID | 21830186 |
|---|---|
| Authors | Amanda Keller (0000-0002-9605-5836, McGill University, corresponding author) |
| Year | 2023 |
| Volume | 14 |
| Issue | 1 |
| Pages | 71-83 |
| Publication date | 2023-03-24 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | International Journal of Child Youth and Family Studies (JOURNAL) |
| Journal identifiers | ISSN: 1920-7298 • E-ISSN: 1920-7298 |
| Publisher | University of Victoria Libraries (PUBLISHER) |
| DOI | 10.18357/ijcyfs141202321286 |
| OpenAlex | W4361002128 |
| Language | EN |
| Citations received | 4 |
| References cited | 11 |
It is well established that many former Canadian foster youth struggle with financial issues after aging out of care. Much of the financially focused intervention literature speaks to financial literacy training within independent living programming (ILP) or financial empowerment within individual development accounts (IDAs). These important programs offer educational modules to address financial skills or increase youth access to savings. Yet they are not sufficient, as neither addresses the emotional side of personal financial decision-making. Growing up in poverty can create emotional challenges related to money, such as financial anxiety. Financial anxiety affects quality of life in complex ways. Using three clinical composite profiles of youth aging out of the youth protection system in Quebec, this paper highlights some of the complex challenges faced by foster care alumni in dealing with economic insecurities. It is our proposition that we must be more mindful of current and former foster youth’s financial well-being and adapt financial literacy training accordingly. Further, these programs must be assessed for short- and long-term efficacy. Neglecting to measure and address financial anxiety for foster youth and alumni of care risks setting them up for preventable hardships and failures. This paper thus proposes that Canadian child welfare organizations and research teams must further develop this area of inquiry and intervention
Anxiety · Business · Developmental psychology · Economic growth · Economics · Empowerment · Financial literacy · Foster care · Political science · Positive Youth Development · Poverty · Public relations · Welfare · Financial Literacy, Pension, Retirement Analysis · Medicine · Nursing · Psychology · Finance
Childhood Poverty, Cumulative Risk Exposure, and Mental Health in Emerging Adults
On the psychology of poverty
Financial well-being
Effective services for improving education and employment outcomes for children and alumni of foster care service
Early outcomes for young adults transitioning from out‐of‐home care in the USA
Financial Goal Setting, Financial Anxiety, and Solution-Focused Financial Therapy (SFFT)
Disproportionality in education and employment outcomes of adult foster care alumni
Employment outcomes of foster youth
Educational and employment outcomes of adults formerly placed in foster care
From care to education and employment
Financial therapy in foster care
| Unique citing works | 4 |
|---|---|
| Citations per year | 2 |
| Citation span | 2024 - 2026 (3) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 4 |