Acting for happiness: Financial behavior and life satisfaction of college students

Authors

Jing Jian Xiao, University of Rhode Island
Chuanyi Tang, The University of Arizona
Soyeon Shim, The University of Arizona

Document Type

Article

Date of Original Version

1-1-2009

Abstract

Recent research on well-being suggests that domain-specific behaviors contribute to domain-specific satisfactions, which in turn contribute to an individual's overall satisfaction with life. Our study is an attempt to add to the literature by observing these phenomena from a financial perspective. Using data collected from a sample of undergraduate students at a major state university in the U.S. and employing structural equation modeling, we have found evidence suggesting that positive financial behaviors contribute to financial satisfaction and financial satisfaction in turn contributes to life satisfaction. In addition, positive financial behaviors contribute to life satisfaction through two more mediating variables: Academic performance and academic satisfaction. © Springer Science+Business Media B.V. 2008.

Publication Title, e.g., Journal

Social Indicators Research

Volume

92

Issue

1

Citation/Publisher Attribution

Xiao, Jing Jian, Chuanyi Tang, and Soyeon Shim. "Acting for happiness: Financial behavior and life satisfaction of college students." Social Indicators Research 92, 1 (2009): 53-68. doi: 10.1007/s11205-008-9288-6.