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.
Descriptors: Psychological Patterns, Well Being, Income, Adults, Family Financial Resources, Correlation, Negative Attitudes, Positive Attitudes
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