Nowadays, there has been a gradual decline in the number of young people completing their studies, working, becoming financially independent from parents, and establishing the conditions to form a family (Arnett, 2011). Based on this, another period of development between the ages of 18 and 29, called emerging adulthood, has been proposed (Arnett, 2000), characterized by a series of complex and multifaceted changes to adapt to the requirements of adulthood (Vosylis & Klimstra, 2022). As a result, they must learn to generate and employ their resources effectively in a less structured environment (Wood et al., 2018). Therefore, this period is characterized by ambivalence, as young individuals often struggle to envision themselves as adults, primarily because they grapple with an extended period of self-discovery in their pursuit of establishing personal identities and avoiding fixed long-term commitments (Siqueira et al., 2016). Furthermore, the lack of support networks and work opportunities and the insufficient quality of education create more adverse contexts for the transition to adult life (Torrecilla de las Heras & Melendro, 2023).

According to Jeffrey Arnett’s theoretical framework (Arnett et al., 2014), U.S. emerging adults have five distinctive characteristics. Prolonged identity exploration is when emerging adults discover who they are, what they want, and what roles they will play. Instability involves abrupt changes in professional, academic, residential, and interpersonal domains. Self-focus consists of development within an environment of heightened freedom and independence. Feeling in-between refers to the feeling of being overwhelmed due to changes between adolescence and full adulthood. Finally, perceived possibilities or optimism about the future relate to a sense of a wide range of opportunities and paths to take in life.

A sixth category was identified in the Latin American context: developing and maintaining relational ties with family, friends, and a partner. In Chile, emerging adults greatly emphasize relational ties despite various changes during this period (Barrera-Herrera & Vinet, 2017). Similarly, research in Brazil highlights that, while autonomy and the ability to make individual decisions are valued in the labor market, emerging adults also tend towards high familial support (Dutra-Thomé et al., 2019). In Venezuela, studies show a direct link between increasing age and greater financial independence, social stability, and positive emotions during emerging adulthood (García-Álvarez et al., 2022). Meanwhile, in Peru, social support from friends has been identified as a significant predictor of effective emotional management among young migrants (Espinoza et al., 2022).

Although these studies contribute valuable insights into the Latin American context, there is still a gap in the literature regarding the impact of emotional, social, and financial factors on life satisfaction within this demographic. Consequently, this study focuses on perceived social support, emotional dysregulation, and economic well-being as predictors of life satisfaction. Emotional dysregulation is an intrinsic indicator of emotion management, which significantly influences one’s perception of their life (González et al., 2023; Guerrini-Usubini et al., 2023; Kraiss et al., 2020). Conversely, financial well-being and perceived social support represent two important extrinsic factors associated with a person’s social environment and economic status. These factors are internalized and modulated by an individual’s perception, which is an intrinsic component (Barrera & Flores, 2020; Sirgy, 2018). Measuring the impact of these variables on life satisfaction is beneficial because they align with the subjective perception of one’s experiences at social, emotional, and economic levels.

Given that emerging adulthood is primarily influenced by the sociocultural context, social, emotional, and financial factors could be considered fundamental predictors of life satisfaction in this population (Hidalgo-Fuentes et al., 2021; Ortiz et al., 2019; Yeo & Lee, 2019). In that sense, the mediation role of emotion regulation/dysregulation (Demichelis et al., 2023) and sociodemographic factors such as age (Thomas, 2010) in the association between social components and life satisfaction have been highly studied.

Based on this proposal, the main aim of the current study is to determine the predictive role of perceived social support, emotion dysregulation, financial well-being, and sociodemographic factors on life satisfaction in Peruvian emerging adults. To reach that primary objective, it is necessary to determine the psychometric properties of all the tests and to identify the degree of associations between variables.

Under these premises, our main research hypotheses are the following:

H₁: Financial well-being, perceived social support, and emotion dysregulation are significant predictive factors for life satisfaction in emerging Peruvian adults.

H₂: The predictive role of financial well-being, perceived social support, and emotion dysregulation on life satisfaction might differ based on gender (males/females), clinical status (currently or not receiving psychological/psychiatric treatment), and age ranges (18-19 years, 20-24 years, and 25-29 years).

The present study was previously approved by the Research and Ethics Committee (CIE) of the Faculty of Psychology of the University of Lima on September 11th, 2023. Regarding the tests, there is free access to SWLS, CFPB, and MSPSS for research purposes. In the case of DERS, we obtained written permission to utilize the Peruvian abbreviated version of DERS with the corresponding author. Due to the greater ease of accessibility to the sample, it was collected through virtual means, using the Google Forms platform. The forms were presented in the following order: informed consent, SWLS, MSPSS, DERS, CFPB, and socio-demographic record. The form was shared through social networks (Instagram, Facebook, and LinkedIn) and academic and university spaces. The informed consent described the objective of the research, the inclusion criteria, and the principles of autonomy (i.e., withdraw at the time considered appropriate without any personal harm), confidentiality, and privacy, in addition to specifying that there would be no individual return as it is a proposal of research and not a diagnosis. No financial benefit was offered for participating in the present study. Those participants who accepted that their results could be used for future research projects and that they could be used in open-access databases have been published under that name at the following link: https://osf.io/z23f5/ (Okumura-Clark, 2024).

After examining basic descriptive statistics, a psychometric analysis of the measures was conducted to determine the methodological functioning of tests within this sample. Validity evidence based on the internal structure was obtained through confirmatory factor analysis (CFA). Using the SEM module of Jamovi v. 1.6.23, fit indices were computed. Based on María Escobedo et al. (2016), Christine DiStefano et al. (2018), and Daire Hooper et al. (2008), the following were considered as indicative of adequate fit for CFA: χ²/df < 3, CFI = > .95, TLI = > .95, SRMR < .080, and RMSEA = < .08. These elements were considered as central determinants for the analysis by providing a comprehensive evaluation of the models, taking into account different perspectives; for example, CFI is responsible for comparing the proposed model with a null, while the TLI works for the same parameters as the CFI but gives preference to models with greater parsimony (Bentler, 1990; Tucker & Lewis, 1973). On the other hand, the SRMR and RMSEA indices allow a direct analysis of the model’s fit (Hu & Bentler, 1999). On the other hand, two estimators, MLR and WLSMV, were considered based on the non-normality of score distribution; however, WLSMV is more recommended due to the ordinal nature of the variables (Escobedo et al., 2016; Ruiz et al., 2010; Hooper et al., 2008). In assessing the reliability of the derived scores, Selim Kiliç (2016) and Carme Viladrich et al. (2017) propose that the values should be greater than .80.

Once each test’s factorial structure was determined, a polychoric correlation matrix was applied to ascertain the relationships between variables. The analysis of this matrix is critical as it is a fundamental element for constructing explanatory models (Hair et al., 2010). Thus, evaluating the associations among observed data is crucial, as it is an essential precedent for hypothesized relationships within the models based on preliminary results (Kline, 2011). Verifying the feasibility and viability of testing causal relationships with the available data is also an essential consequence of the correlation matrix results (Schumacker & Lomax, 2004). Based on the proposals of Jacob Cohen (1988), the effect sizes of the correlations were classified as low (varying around .10), medium (varying around .30), and large (varying more than .50).

Then, the structural equation modeling methodology was used to comprehend the variables’ associations and the degree of prediction (Kline, 2016). The five corresponding stages were carried out to implement this methodology: a) Specification, which includes establishing hypothetical relationships between latent and observed variables. To this end, the background and theory that support the initial proposal of the model were previously reviewed; b) Identification: according to Leonardo Medrano and Roger Muñoz-Navarro (2017), this phase can only be carried out if the models are clarified; c) Estimation: determination of the calculation method for the process of minimizing the discrepancy between the theoretical and empirical matrices; d) Assessment: the fit of the model is evaluated using fit indices taking into account the corresponding cut-off points; and e) Re-specification: the modification of the model is considered based on a review of the adjustment or modification indices. The considered estimator was Maximum Robust Likelihood (MLR), which assesses the fitness of the model under conditions of inferential non-normality and in large samples and provides more robust inferences in the presence of violations of multivariate normal distribution assumptions (Muthén & Muthén, 2017). That implies that the conclusions derived from SEM analysis are more reliable and generalizable since they are based on robust estimates that are less susceptible to biases caused by a lack of normality in the data (Rhemtulla et al., 2012).

A path analysis of observable and latent variables was evaluated since it is part of the multivariate analysis family of equation modeling structure (Keith, 2015). Regarding the goodness of fit indices, the guidelines proposed by Miguel Ruiz et al. (2010) were followed, which stipulated that the Chi-square/Degree of freedom (χ²/df) must be less than 3; the Comparative Fit Index (CFI) and the Tucker-Lewis Index (TLI) must be greater than or equal to .95; and the Root Mean Square Residual of Approximation (RMSEA) and Standardized Root Mean Square Residual (SRMR) must be less than .08. Finally, for analyzing the influences between variables in a bivariate manner, the regressions obtained (β) were used, which must be statistically significant (p < .05) (Ato & Vallejo, 2011).

Life satisfaction is a fundamental component of an individual’s personal development due to the tremendous support this factor provides for the subject’s emotional, social, and economic aspects (Kohútová et al., 2021). Since emerging adulthood is a period of significant changes, life satisfaction generates crucial repercussions for the life of the future intermediate adult (Vosylis & Klimstra, 2022). Considering that the study of these concepts in Latin America has been currently relatively scarce, it was deemed proposed to determine the predictive role of intrinsic factors associated with economic (financial well-being), social (perceived social support), and emotional (emotion dysregulation) domains on life satisfaction in Peruvian emerging adults. It is important to note that various cultural factors may have influenced the results, especially the counterintuitive findings discussed later.

Before analyzing the associated factors with life satisfaction, the internal structure of each measurement instrument was determined while considering the models previously identified in Peruvian contexts and original studies. Through confirmatory factor analysis, internal structures of life satisfaction (Oliver et al., 2018), perceived social support (López-Angulo et al., 2021), and emotional dysregulation (Blancas-Guillen et al., 2024) tests were replicated similarly with adequate adjustment indices. In the case of the instrument that assessed financial well-being (Consumer Financial Protection Bureau, 2015), it was decided to eliminate the first two items and consider a single-factor proposal to comply with the minimum standards at a psychometric level. Acceptable internal consistency coefficients were also determined to assess the precision of the derived scores (McNeish, 2018).

Under these premises, intrinsic and extrinsic factors impact life satisfaction. Emotional factors play an extremely relevant role in the individual’s personal development. If they do not know how to manage these sensations, it has significant repercussions in different areas of their lives (Herts et al., 2012). Faced with this, emotion dysregulation would be conceptualized mainly as an intrinsic factor. On the other hand, social and economic factors are primarily associated with external factors when considered contextual components. However, the subject’s perception of their social networks and economic status presents ideographic nuances, which are associated with the life experiences and expectations that the emerging adult has in their life (Barrera & Flores, 2020; Sirgy, 2018).

Firstly, perceived social support presented the highest predictive power about satisfaction with life in emerging Peruvian adults. This could be due to a cultural factor because, just like it was found in Latin American contexts, unlike the American ones, bonds that were built to be an essential part of their goals during this stage are valued (Barrera-Herrera & Vinet, 2017; Dutra-Thomé et al., 2019). It would also be explained by the condition of generally being an emerging adult since there is interest in socializing with peers and responding to family expectations, so if they receive support from their network, they will feel a higher well-being level. In addition, being in a period in which they experience uncertainty because of adulthood demands, social support would dampen crises (Barrera-Herrera et al., 2019). This way, those who count on this support would yield higher satisfaction in their lives.

Similarly, emotion dysregulation significantly impacts how satisfied young people are with their lives. Instability and little clarity of identity are characteristics of emerging adults, as well as a lower level of resilience and a feeling of lacking value; this is why it would result in more challenging for them to be satisfied with their lives (Limonero et al., 2012). Also, emotional dysregulation would affect expectations about the future, being more negative than positive, in a way that does not help the individual’s personal development and general well-being (Limonero et al., 2012). On the contrary, there would be a more significant psychological discomfort that would limit the person from generating new resources to face the requirements of adulthood and perceive their lives as valuable.

Although financial well-being significantly correlates with satisfaction with life, this study did not identify it as a predictive factor in this Peruvian sample. This was an interesting result since a debate about whether this factor has a predictive association with life satisfaction was previously described, considering that the most surveyed emerging adults in the sample still live with their families, do not work, come from moderate-income households, and are still studying. In other words, the financial burden of their household is divided among the family members, and the satisfaction of their essential needs on an economic level still depends on their parents. Hence, this construct may be irrelevant to them during the data collection. That is likely why, in comparison to the two other constructs, this had the lowest predictive capacity.

On the other hand, these results may be attributed to the significant influence of cultural dynamics on the perceptions of life satisfaction among Peruvian emerging adults. This demographic, navigating the transition toward full adulthood, encounters numerous economic and employment challenges within a context characterized by political and social instability. Nevertheless, the resilience that Peruvians have historically developed in response to ongoing national crises, combined with strong familism, provides both emotional and practical support that enables adaptation and redefinition of well-being expectations (Barrera-Herrera & Vinet, 2017; Romio et al., 2022). Consequently, rather than primarily valuing financial success as a determinant of life satisfaction, Peruvian emerging adults tend to prioritize family support and emotional stability. This underscores the argument that in contexts marked by high uncertainty, family, and community networks assume a central role in their overall well-being, diminishing the significance of financial factors as predictors of life satisfaction and emphasizing the impact of cultural values. Besides, just like was mentioned in the research of Ed Diener, Derrick Wirtz et al. (2010) and Veenhoven (2016), it would depend on many variables from the person if the financial status were associated with someone’s level of happiness, like cultural, cognitive, and affective factors, so financial well-being would not necessarily have a predictive role.

When considering the sociodemographic variables of gender, clinical status, and age groups, interesting results were found. Depending on gender, emotion dysregulation was not a significant risk factor for life satisfaction in men; conversely, it was in the case of women. Gender differences have been identified in this sense since, socially, men are allowed expressions of anger or aggressiveness, being normalized and reinforced by being associated with being “masculine” (DeSalvo, 2023). Associated with this, in Peru, there are marked social stereotypes about gender expressions of masculinities in the sense that men can present violent and aggressive patterns (i.e., low levels of emotion regulation) and be socially “adaptive” (Villa-Palomino, 2022). In the case of clinical status, emotion dysregulation was a much more significant risk factor in the sample, with psychological/psychiatric treatment accounting for life satisfaction. Under these premises, most clinical cases manifest difficulties in managing their emotions, which generates a series of repercussions in their lives, leading to not feeling as comfortable with their current situation (Ben-Dor Cohen et al., 2021). Finally, in the case of age ranges, perceived social support is no longer a protective predictor in adults aged 25 to 29 compared to adolescents and young adults. This can be explained by the fact that these have personally developed, so factors such as social approval would not be as relevant compared to adolescents and young people between 20 and 24 years old (Arnett, 2011).

The present study identified the predictive factor of various emotional, social, and economic variables on life satisfaction in Peruvian emerging adults. Among the main findings, it was determined that perceived social support has a greater degree of association with well-being. In the case of emotion dysregulation, it was also identified as a statistically relevant risk factor. Finally, financial well-being proved to be a not-so-relevant factor for individual satisfaction, which was justified in previous paragraphs. When analyzing the differences in models based on sociodemographic variables, it was determined that emotion dysregulation varies as a predictor for life satisfaction. At the same time, perceived social support varies as a predictor while age groups are considered.

As a counterpart, there are some limitations to this study’s results. Firstly, the sampling was non-probabilistic and intentional, promoting that the sample was not necessarily heterogeneous, so the results could not be generalized to Peruvian emerging adulthood. Furthermore, in the proposal, other relevant psychological factors could have been considered, such as personality traits, social skills, resilience, and coping styles. Finally, the sample size was relatively small compared to other studies in emerging adult populations. Other vital limitations are those associated with administering tests virtually and not considering economic status as a sociodemographic factor as a predictor.

Despite these achievements, this study presents a series of implications relevant to current scientific research and practical applications in the field of positive psychology and well-being. This would be the first Peruvian and Latin American proposal that considers a structural equation model for studying emotional, social, and economic factors as predictor variables of life satisfaction in emerging adult samples. In that sense, we are collaborating through a preliminary study in this community that could be classified as vulnerable due to the changes and social demands they must go through to achieve desirable living standards. Likewise, the study of financial well-being from these psychological perspectives is relatively scarce, so a more exhaustive review is required in the scientific field. Future proposals can be made under these models; for example, the comparison of samples through interprovincial studies and the immigration status of emerging adults would be possible future trends to consider for researchers interested in this field of study.

From a practical standpoint, the findings highlight the urgent need for focused treatments to improve social support and treat emotional dysregulation among emerging adults. Policymakers, educators, and mental health practitioners can use these data to help build programs that support this population’s well-being and sense of fulfillment in life. Under this logic, implementing social programs that include evidence-based interventions (e.g., Dialectical Behavior Therapy) that focus on effective emotional management and establishing healthy social relationships would be specific ideas that public policies could consider in the country.

This research has also had a methodological impact, as psychometric and statistical methods have been implemented. For instance, a structural equation model has been developed to analyze relevant components associated with life satisfaction. Regarding psychometrics, validity, and reliability evidence were obtained in every measurement. Other pertinent considerations could be proposals associated with longitudinal studies to determine the dynamics of the variables during the emerging adulthood stage.

This study allows us to conclude that emotional factors (namely emotion dysregulation) and social factors (namely perceived social support) are significant predictors of life satisfaction. Counterintuitively, financial well-being would not be a central predictor of life satisfaction, and this background is a precursor for future research to determine further explanations for these findings. These results have sought to contribute to understanding the dynamics between various factors relevant to the quality of life and psychological well-being of a vulnerable population that has been little studied in Latin American contexts.