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ERIC Number: EJ1347074
Record Type: Journal
Publication Date: 2022
Pages: 18
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1052-3073
EISSN: EISSN-1947-7910
Available Date: N/A
Personal Emotions and Family Financial Well-Being: Applying the Broaden and Build Theory
Enete, Shane; Seay, Martin; Asebedo, Sarah; Wang, David; McCoy, Megan
Journal of Financial Counseling and Planning, v33 n1 p79-96 2022
The purpose of this article is to show that emotions matter when predicting the financial well-being of U.S. households. The broaden and build theory (BBT) was used to predict that positive emotions would be positively associated with financial well-being and negative emotions would be negatively associated with financial wellbeing. Using a convenience sample of 993 U.S. adults, emotions were found to explain the variation in family financial well-being, measured by income and net worth, of U.S. households beyond demographic variables. More specifically, feelings of contentment, love, anger, anxiety, and loneliness were found to be associated with financial well-being. Results suggest that policymakers, financial professionals, and academics should collect more data on the emotions of individuals to help explain the variation in the financial well-being of U.S. households. Results also provide evidence in support of the financial counseling industry's efforts to incorporate emotions as an important variable when modeling family financial well-being.
Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: https://connect.springerpub.com/content/sgrjfcp
Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A
Author Affiliations: N/A