Acting for Happiness: Financial Behavior and Life Satisfaction of College Students
By Jing Jian Xiao, Chuanyi Tang, Soyeon Shim. 2009
468 citations recorded by the source corpus.
Recent research on well-being suggests that domain-specific behaviors contribute to domain-specific satisfactions, which in turn contribute to an individual’s overall satisfaction with life. Our study is an attempt to add to the literature by observing these phenomena from a financial perspective. Using data collected from a sample of undergraduate students at a major state university in the U.S. and employing structural equation modeling, we have found evidence suggesting that positive financial behaviors contribute to financial satisfaction and financial satisfaction in turn contributes to life satisfaction. In addition, positive financial behaviors contribute to life satisfaction through two more mediating variables: academic performance and academic satisfaction.
Subfields: Experimental and Cognitive Psychology, Health, Social Psychology
View Paper: https://www.semanticscholar.org/paper/84bb4f5901c74b40f0261703805e9d46daa78fbb
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In Experimental and Cognitive Psychology
In Health
In Social Psychology
Citations in the corpus
- Consumer Financial Capability and Financial Satisfaction (2013, background): “Like other domain satisfactions, financial satisfaction contributes to life satisfaction (Bowling and Windsor 2001; Xiao et al. 2009).”
- Financial Behaviors and Financial Well-Being of College Students: Evidence from a National Survey (2011, background): “The most common measure of financial status is income ( Xiao et al. 2009 ).”
- An integrated model of financial well-being: The role of financial behavior (2021, background): “Financial well-being is also influenced by financial status (Xiao et al., 2009) and financial experience (Davis & Helmick, 1985).”
- Sensation-Seeking, Risk-Taking, and Problematic Financial Behaviors of College Students (2010, background): “A persistent gap has been identified between the availability of information and actual understanding of college prices and financial aid among some groups ( Perna 2006 ).”
- Sustainable Consumption and Life Satisfaction (2011, background): “For example, a study of college students showed that positive financial behaviors contributed to financial satisfaction and life satisfaction (Xiao et al. 2009).”
- Gender Differences in Happiness and Life Satisfaction Among Adolescents in Hong Kong: Relationships and Self-Concept (2016, background): “It is not uncommon to use a single indicator for measuring specific domains of life satisfaction including academic satisfaction (e.g., Xiao et al. 2009).”
- Age differences in consumer financial capability (2015, background): “indicated desirable financial behaviors are associated with positive financial outcomes (Xiao et al., 2009; Dew and Xiao, 2011; Xiao et al., 2014b).”