scholarly journals Impact of Self-Control, Financial Literacy and Financial Behavior on Financial Well-Being

2019 ◽  
pp. 211-218 ◽  
Keyword(s):  
Financial Literacy ◽  
Well Being ◽  
Self Control ◽  
Financial Behavior ◽  
Educational Institutions ◽  
Direct Impact ◽  
Consumer Market ◽  
New Generation ◽  
The Impact ◽  
The Relationship

Financial knowledge is empowering the new generation of the 21st century in the era of transformative marketing (Kumar, 2018), which leads to the well-planned financial structure for long terms. However, it is imperative to know that on what scales they are managing their budgets. Understanding the impact of selfcontrol, financial literacy, and financial behavior is very vital for living a successful life (Sarstedt et al., 2017). The literature shows, people with good self-control and financial literacy tend to behave well compared to people with less self-control and financial literacy. This study examines the relationship between self-control financial literacy, financial behavior and financial wellbeing. A survey was conducted on 416 people from educational institutions, corporate sectors and food courts in Pakistan to empirically examine the impact of self-control and financial literacy on financial behavior and financial well-being of people. Better self-control and financial literacy lead to greater financial well-being. This research paper concludes that self-control and financial literacy affect financial well-being through financial behavior. Financial literacy has a significant direct impact on financial wellbeing, however the direct impact of self-control on financial well-being is insignificant. Impact of financial behavior on financial well-being is stronger than the impacts of financial literacy and self-control on financial well-being. This paper will be useful for economists and companies in Pakistan to better understand consumer market and to make decisions accordingly.

scholarly journals The role of self-esteem, optimism, deliberative thinking and self-control in shaping the financial behavior and financial well-being of young adults

PLoS ONE ◽  
2021 ◽  
Vol 16 (9) ◽  
pp. e0256649
Author(s):  
Fatima Hashmi ◽  
Hira Aftab ◽  
José Moleiro Martins ◽  
Mário Nuno Mata ◽  
Hamza Ahmad Qureshi ◽  
...  
Keyword(s):  
Young Adults ◽  
Financial Literacy ◽  
Sampling Technique ◽  
Well Being ◽  
Self Esteem ◽  
Self Control ◽  
Financial Behavior ◽  
Cognitive Factors ◽  
Financial Security ◽  
Financial Anxiety

The sustainable financial behavior and financial well-being have been a key concern among the developing societies; thereby encompassing the various psychological factors which play a role in influencing individual’s positive financial behavior and financial well-being, this study is conducted. Research focusing on the psychological aspect of human financial behavior and well-being is scarce, focusing more on the cognitive side such as financial literacy and numeracy. The aim of this research study is to find the role played by the non-cognitive factors such as self-esteem, self-control, optimism and deliberative thinking, in forming the financial behavior and financial well-being of the young adults. A sample of 429 university students from public and private sector was collected via an online and field survey using purposive sampling technique. The survey contained measures for demographics, self-esteem, optimism, deliberative thinking, self-control, general financial behavior and financial well-being. SPSS and PLS-SEM tools were used for the exploration of the relationships among dependent and independent variables. The results of PLS path analysis demonstrate that among the non-cognitive factors, self-control and deliberative thinking show a significant association with both financial behavior, and financial security. Self-esteem plays no significant role in forming the financial behavior of the young adults when all the variables are taken together but it exhibits a significant association with financial well-being (financial security and financial anxiety). Optimism on the other hand exhibits no significant association with both financial behavior and financial well-being (financial security and financial anxiety). The results of this study complement the previous studies and also put forth new outcomes. This research is unique as it is the first of its kind conducted in a consumption-oriented economy like Pakistan. In addition to the previous studies which have often established the link of self-esteem with general well-being, this study goes further by analyzing the association between self-esteem and financial well-being and by the identification of the role played by non-cognitive factors like self-esteem, optimism, deliberative thinking and self-control together on the financial behavior and financial well-being of the individuals using PLS-SEM approach.

scholarly journals The Behavioral Role of Digital Economy Adaptation in Sustainable Financial Literacy and Financial Inclusion

2021 ◽  
Vol 12 ◽  
Author(s):  
Siming Liu ◽  
Leifu Gao ◽  
Khalid Latif ◽  
Ayesha Anees Dar ◽  
Muhammad Zia-UR-Rehman ◽  
...  
Keyword(s):  
Loss Aversion ◽  
Financial Literacy ◽  
Well Being ◽  
Digital Economy ◽  
Moderating Effect ◽  
Financial Inclusion ◽  
Self Control ◽  
Behavioral Biases ◽  
The Impact ◽  
Behavioral Phenomenon

The basic aim of this research was to investigate the impact of the behavioral biases on financial inclusion in Pakistan while considering the moderating effect of financial literacy in this relation, in the context of behavioral perspective. This study focused on the significant behavioral phenomenon, including self-control, optimism, herding, and loss aversion with a perspective of the digital economy. To test the proposed hypothesis, the primary data collection method was used. A structured questionnaire was designed to collect data from 102 individual households through the convenience sampling technique. SmartPLS was used to analyze collected data. This study found the negative impact of self-control, optimism, and herding on financial inclusion. In contrast, loss aversion contributes to the uplift of financial inclusion in Pakistan. Similarly, financial literacy proved to have a decreasing effect on financial inclusion because of religious concerns. The moderation effect of financial literacy was also significantly positive except for loss aversion. The behavioral phenomenon proved to have a significant impact on financial inclusion. This research shows that individual households who do not use developed technological services and products from formal financial inclusion can overcome the behavioral biases that hinder them from making informed financial decisions. This research work will significantly help households use financial services to improve their standard of living and overall long-term financial well-being. This research is essential because many households are not using bank services and have low financial knowledge in Pakistan. The key contribution of this research study is that it found the relation between behavioral factors and financial inclusion. Financial literacy also has a moderating effect on their relations.

scholarly journals Financial Leverage of Faculty of Higher Educational Institutions in the Province of Capiz

2020 ◽  
Vol 3 (2) ◽  
pp. 13-14
Author(s):  
Joesan D. Borres ◽  
Joseph G. Guevarra
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Well Being ◽  
Educational Institutions ◽  
Financial Leverage ◽  
Higher Educational Institutions ◽  
Insufficient Amount ◽  
Higher Educational ◽  
The Difference ◽  
The Relationship

Faculty-entrepreneurs started their business using savings and personal money.  Over time, with an insufficient amount of capital and to maximize business operation, faculty-entrepreneurs incur debt. Findings on financial literacy, financial capability, financial management, and faculty's financial well-being were very low and negative. So far, there is a dearth of studies that have been conducted on financial leverage, particularly on the faculty who are engaged in business. Financial leverage refers to the source of business capital used in the form of equity and debt. The paper explored the level of financial leverage in terms of equity and debt of faculty of higher educational institutions when they are taken as a whole and grouped according to age, sex, and gross monthly business income. Likewise, it determined the difference in the level of financial leverage in terms of equity and debt when teachers are grouped according to the aforementioned demographics. Also, it explored the relationship between equity and debt.  Likewise, it determined the result of financial leverage in their investment practices.

scholarly journals Does financial behavior mediate the relationship between self-control and financial security?

2021 ◽  
Vol 12 (1) ◽  
pp. 27-36
Author(s):  
Marija Vukovic ◽  
Snjezana Pivac
Keyword(s):  
Structural Equation ◽  
Mediating Effect ◽  
Self Control ◽  
Financial Behavior ◽  
Psychological Characteristics ◽  
Equation Modeling ◽  
Future Research ◽  
Financial Security ◽  
The Impact ◽  
The Relationship

People have different financial behavior depending on their psychological characteristics, which can reflect their financial security. Self-control is also an important predictor of financial security. People with greater self-control are more likely to save money and less likely to get into debt. Therefore, they are more secure and satisfied with their financial situation. This paper explores whether good self-control directly affects financial security or if its impact comes indirectly through good financial behavior. For the purposes of the research, a survey analysis was designed and applied to a sample of 494 respondents. Structural equation modeling was used for testing the research hypothesis. The results confirmed that there is a significant mediating effect of financial behavior on the relationship between self-control and financial security. The research contributes to a better understanding of financial behavior predictors among individuals with different psychological characteristics. Future research should also include testing for differences between various demographic groups of people in the impact of self-control on financial behavior and security.

THE IMPACT OF THE PHYSICAL ENVIRONMENT ON RESIDENTS’ SELF-RATED HEALTH: A CASE STUDY IN PENANG, MALAYSIA

2020 ◽  
Vol 6 (1) ◽  
pp. 109
Author(s):  
Massoomeh Hedayati ◽  
Aldrin Abdullah ◽  
Mohammad Javad Maghsoodi Tilaki
Keyword(s):  
Physical Environment ◽  
Fear Of Crime ◽  
Structural Equation ◽  
Well Being ◽  
Living Environment ◽  
Housing Quality ◽  
Self Rated Health ◽  
Environment And Health ◽  
The Impact ◽  
The Relationship

There is continuous debate on the impact of house quality on residents’ health and well-being. Good living environment improves health, and fear of crime is recognised as a mediator in the relationship between physical environment and health. Since minimal studies have investigated the relationship, this study aims to examine the impact of the house quality on fear of crime and health. A total of 230 households from a residential neighbourhood in Malaysia participated in the study. Using structural equation modelling, the findings indicate that housing quality and fear of crime can account for a proportion of the variance in residents’ self-rated health. However, there is no significant relationship between housing quality and fear of crime. Results also show that fear of crime does not mediate the relationship between housing quality and health. This study suggests that the environment-fear relationship should be re-examined theoretically.  

The Impact of Financial Literacy on Financial Preparedness for Retirement in the Small and Medium Enterprises Sector in Uganda

2020 ◽  
Vol 9 (3) ◽  
pp. 26-41
Author(s):  
Colin Agabalinda ◽  
Alain Vilard Ndi Isoh
Keyword(s):  
Financial Literacy ◽  
Small And Medium Enterprises ◽  
Group Analysis ◽  
Moderating Effect ◽  
Primary Data ◽  
Retirement Preparedness ◽  
Medium Enterprises ◽  
The Impact ◽  
The Relationship ◽  
Effect Of Age

The study investigated the direct effects of financial literacy (knowledge, skills, and attitudes) on financial preparedness for retirement and the moderating effect of age among the small and medium enterprises in Uganda. Primary data was collected from a sample of n = 380 selected from the SME workforce. Descriptive analysis was run on SPSS, while validity and reliability of the measurement items yielded satisfactory composite reliability scores and average variance explained (AVE) scores for all items. Structural equation modelling (SEM) was used to test the hypotheses and multi-group analysis conducted to test for the moderating effect of age on the relationship between financial literacy and retirement preparedness. The results revealed that knowledge and skills were significant predictors of retirement preparedness. However, ‘attitude' was not a significant predictor, and age had no moderating effect on the relationship between the study variables. These findings present practical implications for policymakers and financial educators in a developing country context.

scholarly journals COVID-19 Pandemic and Quality of Life among Romanian Athletes

2021 ◽  
Vol 18 (8) ◽  
pp. 4065
Author(s):  
Germina-Alina Cosma ◽  
Alina Chiracu ◽  
Amalia Raluca Stepan ◽  
Marian Alexandru Cosma ◽  
Marian Costin Nanu ◽  
...  
Keyword(s):  
Quality Of Life ◽  
Trait Anxiety ◽  
Negative Impact ◽  
Well Being ◽  
Quality Of Life Scale ◽  
Life Scale ◽  
Personality Item ◽  
The Impact ◽  
The Relationship

The aim of this study was to analyze athletes’ quality of life during the COVID-19 pandemic. The study involved 249 athletes between 15 and 35 of age, M = 21.22, SD = 5.12. The sample was composed of eight Olympic Games medalists, three European medalists, 67 international medalists, and 63 national medalists. The instruments used were: (1) COVID-19 Anxiety Scale, (2) Athlete Quality of Life Scale, (3) Impact of Pandemic on Athletes Questionnaire, and (4) International Personality Item Pool (IPIP Anxiety, Depression, and Vulnerability Scales). The results indicate significant differences in COVID-19 anxiety depending on the sport practiced, F (9239) = 3.81, p < 0.01, showing that there were significant differences between sports. The negative impact of the COVID-19 pandemic mediates the relationship between trait anxiety and the athletes’ quality of life. The percentage of mediation was 33.9%, and the indirect effect was −0.11, CI 95% (−0.18, −0.03), Z = −2.82, p < 0.01. Trait anxiety has an increasing effect on the intensity of the negative impact of the COVID-19 pandemic, 0.23, CI 95% (.10, 0.35), Z = 3.56, p < 0.01, and the negative impact of the COVID-19 pandemic has a decreasing effect on quality of life, −0.47, CI 95% (−0.67, −0.27), Z = −4.62, p < 0.01. Gender and age did not moderate the relationship between the negative impact of COVID-19 and athletes’ quality of life. The results of the study highlighted the impact that social isolation and quarantine have on athletes’ affective well-being.

scholarly journals Medical education challenges and innovations during COVID-19 pandemic

2021 ◽  
pp. postgradmedj-2021-140032
Author(s):  
Michail Papapanou ◽  
Eleni Routsi ◽  
Konstantinos Tsamakis ◽  
Lampros Fotis ◽  
Georgios Marinos ◽  
...  
Keyword(s):  
Medical Education ◽  
Medical Students ◽  
Student Assessment ◽  
Well Being ◽  
Educational Institutions ◽  
Healthcare Staff ◽  
Academic Trajectories ◽  
Traditional Structure ◽  
Physical Presence ◽  
The Impact

COVID-19 pandemic has undoubtedly disrupted the well-established, traditional structure of medical education. Τhe new limitations of physical presence have accelerated the development of an online learning environment, comprising both of asynchronous and synchronous distance education, and the introduction of novel ways of student assessment. At the same time, this prolonged crisis had serious implications on the lives of medical students including their psychological well-being and the impact on their academic trajectories. The new reality has, on many occasions, triggered the ‘acting up’ of medical students as frontline healthcare staff, which has been perceived by many of them as a positive learning and contributing experience, and has led to a variety of responses from the educational institutions. All things considered, the urgency for rapid and novel adaptations to the new circumstances has functioned as a springboard for remarkable innovations in medical education,including the promotion of a more “evidence-based” approach.

scholarly journals SOCIAL NETWORKS, HEALTH, AND WELL-BEING AMONG PEOPLE LIVING WITH DEMENTIA

2019 ◽  
Vol 3 (Supplement_1) ◽  
pp. S71-S71
Author(s):  
Eleanor S McConnell ◽  
Kirsten Corazzini ◽  
T Robert Konrad
Keyword(s):  
Older Adults ◽  
Social Networks ◽  
Well Being ◽  
Sensor Technology ◽  
Web Based ◽  
Use Of Technology ◽  
Care Partners ◽  
The Impact ◽  
The Relationship ◽  
Health And Well Being

Abstract Although the impact of dementia on the health and well-being of those living with Alzheimer’s Disease and related Disorders (ADRD) and their care partners has been widely studied, less attention has been paid to how the disease impacts individuals within the context of their larger social networks. This symposium presents findings from a series of integrated studies aimed at strengthening measurement of health and well-being among older adults with living with dementia and well-being among members of their social networks. Findings will be presented from five studies: (1) a scoping review of social network measurement in older adults in chronic illness, including dementia, that emphasizes the use of technology in measuring older adults’ social networks; (2) a simulation study to evaluate the feasibility and reliability of sensor technology to measure social interaction among a person living with dementia and others in their immediate surroundings; (3) development of a web-based application that allows older adults to map and activate their social networks; (4) a qualitative analysis of interviews from persons living with dementia, their unpaid caregivers, and paid caregivers from an adult day health program concerning well-being focused outcomes; and (5) a mixed methods analysis of the feasibility of using both traditional and novel measures of health and well-being deployed among networks of people living with dementia. Emerging technologies for measuring social networks health and well-being hold promise for advancing the study of the relationship-based nature of care for people living with dementia.

Perceived stress and psychological well-being of working mothers during COVID-19: a mediated moderated roles of teleworking and resilience

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vartika Kapoor ◽  
Jaya Yadav ◽  
Lata Bajpai ◽  
Shalini Srivastava
Keyword(s):  
Perceived Stress ◽  
Working Mothers ◽  
Well Being ◽  
Inverse Association ◽  
Psychological Well Being ◽  
Content Type ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

PurposeThe present study examines the mediating role of teleworking and the moderating role of resilience in explaining the relationship between perceived stress and psychological well-being of working mothers in India. Conservation of resource theory (COR) is taken to support the present study.Design/methodology/approachThe data of 326 respondents has been collected from working mothers in various sectors of Delhi NCR region of India. Confirmatory factor analysis was used for construct validity, and SPSS Macro Process (Hayes) was used for testing the hypotheses.FindingsThe results of the study found an inverse association between perceived stress and psychological well-being. Teleworking acted as a partial mediator and resilience proved to be a significant moderator for teleworking-well-being relationship.Research limitations/implicationsThe study is based at Delhi NCR of India, and future studies may be based on a diverse population within the country to generalize the findings in different cultural and industrial contexts. The present work is based only on the psychological well-being of the working mothers, it can be extended to study the organizational stress for both the genders and other demographic variables.Practical implicationsThe study extends the research on perceived stress and teleworking by empirically testing the association between perceived stress and psychological well-being in the presence of teleworking as a mediating variable. The findings suggest some practical implications for HR managers and OD Practitioners. The organizations must develop a plan to support working mothers by providing flexible working hours and arranging online stress management programs for them.Originality/valueAlthough teleworking is studied previously, there is a scarcity of research examining the impact of teleworking on psychological well-being of working mothers in Asian context. It would help in understanding the process that how teleworking has been stressful for working mothers and also deliberate the role of resilience in the relationship between teleworking and psychological well-being due to perceived stress, as it seems a ray of hope in new normal work situations.

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