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Applying Positive Psychology to the Examination of Factors Related to Saving
Monden, Kimberley R.
Monden, Kimberley R.
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Abstract
Ninety-eight participants completed an online survey measuring self-control, regulatory focus, emotional and psychological well-being, total savings, and a variety of saving behaviors. Using hierarchical regression analysis, the predictive value of self-control and regulatory focus on amount of total savings was investigated. It was found that self-control and regulatory focus do not account for a significant proportion of the variance in savings above and beyond age and income. Furthermore, chi-square analysis revealed that type of regulatory focus was not significantly related to the type of saving strategies participants utilized. However, it was found that participants with a promotion focus started saving earlier than those with a prevention focus. The present study also examined the outcome of saving money in terms of emotional and psychological well-being. Multiple regression analysis revealed that total savings did not serve as a significant predictor of emotional or psychological well-being, above and beyond income.
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Date
2008-01-01
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University of Kansas
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This item contains archived web content.
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Monden_ku_0099D_10169_DATA_1.pdf
Adobe PDF, 687.63 KB
- Embargoed until 2158-05-31
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Keywords
Psychology, Social, Psychology, Clinical, Regulatory Focus, Saving, Self-Control, Well-Being