Using a stress process theoretical framework, this article examines the relationship between financial debts and the subjective well-being of young adults and the role of social and personal resources in the mechanism. The analyses include 2348 young adults from the 2017 Transition into Adulthood Supplement study of Panel Study of Income Dynamics, using the structural equation modeling method. We found that when faced with student loans as a stress exposure, young adults' social resources (financial support and social participation) and personal psychological resources (self-esteem) may act in different ways explaining life satisfaction and subjective well-being. Having student loans increased the likelihood of receiving financial support from family and social activity participation, while also boosting one's self-esteem. However, financial support as a social resource was negatively associated with young adults' life satisfaction and subjective well-being, whereas self-esteem as a personal resource was positively associated with life satisfaction and subjective well-being. Our study suggests that exploring the underlying mechanism of the association between debts and subjective well-being is necessary and crucial because the mediating roles of social and personal resources were important in determining young adults' subjective well-being. Further research should explore this topic, as recent young adults are more exposed to debt burdens than preceding cohorts.

中文翻译：

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年轻人的财务债务和主观幸福感：压力过程模型的适应

本文运用压力过程理论框架，探讨了金融债务与年轻人主观幸福感之间的关系以及社会和个人资源在该机制中的作用。该分析使用结构方程建模方法，对 2017 年收入动态小组研究的成年过渡补充研究中的 2348 名年轻人进行了分析。我们发现，当面临学生贷款这种压力时，年轻人的社会资源（经济支持和社会参与）和个人心理资源（自尊）可能会以不同的方式解释生活满意度和主观幸福感。拥有学生贷款增加了从家庭获得经济支持和参与社会活动的可能性，同时也提高了一个人的自尊。然而，作为一种社会资源的经济支持与年轻人的生活满意度和主观幸福感呈负相关，而作为个人资源的自尊与生活满意度和主观幸福感呈正相关。我们的研究表明，探索债务与主观幸福感之间关联的潜在机制是必要且至关重要的，因为社会和个人资源的中介作用对于确定年轻人的主观幸福感非常重要。进一步的研究应该探讨这个话题，因为最近的年轻人比以前的年轻人更容易承受债务负担。而自尊作为个人资源与生活满意度和主观幸福感呈正相关。我们的研究表明，探索债务与主观幸福感之间关联的潜在机制是必要且至关重要的，因为社会和个人资源的中介作用对于确定年轻人的主观幸福感非常重要。进一步的研究应该探讨这个话题，因为最近的年轻人比以前的年轻人更容易承受债务负担。而自尊作为个人资源与生活满意度和主观幸福感呈正相关。我们的研究表明，探索债务与主观幸福感之间关联的潜在机制是必要且至关重要的，因为社会和个人资源的中介作用对于确定年轻人的主观幸福感非常重要。进一步的研究应该探讨这个话题，因为最近的年轻人比以前的年轻人更容易承受债务负担。