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Published (Version of record)CC BY V4.0, Open Access
Published (Version of record)CC BY V4.0, Open
Journal article
Unpacking financial (dis)engagement of young adults transitioning into the workforce: An investigation of financial habit clusters
Pacific-Basin finance journal, Vol.96, pp.1-13
02/2026
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Abstract
We cluster 519 young Australian adults entering the full-time workforce across financial habits associated with an individual's investment activity, credit use, and savings ability. We identified three distinct groups: Financial Explorers, who engage broadly with an array of financial habits; Habitual Savers, who report traditional saving practices but avoid investing and using debt; and the Disengaged, who show little engagement with their finances beyond comparing prices when making a purchase. Results indicate that these groupings are influenced by more than financial literacy alone. Drawing on the Theory of Planned Behavior, we find that normative beliefs and perceived behavioral control are important mediators between personality traits, financial stress, and financial habits. These findings suggest that financial interventions should be tailored to different behavioral patterns.
Details
- Title
- Unpacking financial (dis)engagement of young adults transitioning into the workforce: An investigation of financial habit clusters
- Creators
- Jennifer L. Harrison - Southern Cross UniversityElisabeth Sinnewe - Queensland University of TechnologySteffen Westermann - Department of Accounting, Finance and Economics, Griffith University, Gold Coast, AustraliaGavin Nicholson - Queensland University of Technology
- Publication Details
- Pacific-Basin finance journal, Vol.96, pp.1-13
- Publisher
- Elsevier B.V.
- Grant note
- This research has been assisted by a grant from the Financial Planning Education Council through its Academic Research Grant Scheme, sponsored jointly by the Financial Planning Association of Australia and MLC.
- Identifiers
- 991013357513602368
- Copyright
- © 2026 The Authors.
- Academic Unit
- Management; Faculty of Business, Law and Arts
- Language
- English
- Resource Type
- Journal article