The Relationship Between Objective and Subjective Wealth is Moderated by Financial Control and Mediated by Money Anxiety

Agata Gąsiorowska

Abstract

Prior research has showed that the subjective perception of objective wealth might be affected by various individual difference variables, such as one’s love of money, level of aspirations, and materialistic inclinations. This paper examines a model of subjective wealth that controls attitudes toward money and objective wealth. Subjective wealth has been operationalized as a combination of the assessment of financial situation, the ability to make ends meet and perceived adequacy of income to fulfill needs and wants. Objective wealth has been captured by personal net income as well as household income. Results show that two dimensions of money attitudes affect the subjective perception of objective wealth. Individuals’ perceived financial control (the ability to budget, monitor, and control their money) serves as a moderator for the relationship between objective and subjective wealth: The relationship between the two is stronger for individuals high in financial control and planning than for those low. Furthermore, money anxiety (worry and indecisive- ness regarding moneyrelated issues) is negatively related to objective measures of wealth and its subjective evaluation, and partially mediates the objective–subjective wealth relationship. 
Author Agata Gąsiorowska (Wydział Zamiejscowy we Wrocławiu)
Agata Gąsiorowska,,
- Wydział Zamiejscowy we Wrocławiu
Journal seriesJournal of Economic Psychology, ISSN 0167-4870, (A 35 pkt)
Issue year2014
Vol43
Pages64-74
Publication size in sheets0
ASJC Classification2002 Economics and Econometrics; 3202 Applied Psychology; 3312 Sociology and Political Science
DOIDOI: 10.1016/j.joep.2014.04.007
URL http://www.sciencedirect.com/science/article/pii/S0167487014000348
Languageen angielski
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Score (nominal)35
Publication indicators Scopus SNIP (Source Normalised Impact per Paper): 2014 = 1.062; WoS Impact Factor: 2014 = 1.23 (2) - 2014=1.757 (5)
Citation count*44 (2020-07-05)
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Dorobek Naukowy - Preview URLhttp://dn.swps.edu.pl/Podglad.aspx?WpisID=16478
Dorobek Naukowy - Approve URLhttp://dn.swps.edu.pl/Biuro/ZatwierdzanieWpisu.aspx?WpisID=16478
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* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.
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