Acting for happiness: Financial behavior and life satisfaction of college students
Date of Original Version
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.
Social Indicators Research
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.