The role of financial status, attitudes, behaviours and knowledge for overall well-being in Portugal: the mediating role of financial well-being
International Journal of Organizational Analysis
ISSN: 1934-8835
Article publication date: 16 January 2023
Issue publication date: 24 November 2023
Abstract
Purpose
Although overall well-being is a well-studied phenomenon, financial well-being only recently has attracted scholars’ attention. Accordingly, this study aimed to understand the relationship between financial well-being, its predictors (financial status, financial behaviour, financial knowledge and financial attitudes) and overall well-being.
Design/methodology/approach
The authors collected data from 262 working adults.
Findings
The results showed that only financial status was positively related to financial well-being and the latter was positively related to overall well-being. It was also found that financial well-being mediated the relationship between financial status and overall well-being. In sum, these results showed a multidisciplinary concept of overall well-being and that individuals tend to prioritize financial security over the other components.
Research limitations/implications
The cross-sectional nature of the data is a limitation.
Practical implications
Practically speaking, this research is relevant because it highlights the evidence of financial status as an important influence on financial well-being, as well as the role of household income in individuals’ financial satisfaction.
Originality/value
The study addresses a call for research on the relationship between financial well-being, its main predictors and how these contribute to explain overall well-being.
Keywords
Acknowledgements
Conflict of interest statement: The authors declare that they have no conflicts of interest.
Compliance of ethical standard statement: All procedures performed in studies involving human participants were in accordance with the ethical standards of the institutional and/or national research committee and with the 1964 Helsinki Declaration and its later amendments or comparable ethical standards.
Informed consent: Informed consent was obtained from all individual participants involved in the study.
Data availability: The data sets generated during and/or analysed during the current study are not publicly available to guarantee the confidentiality and anonymity of the participants. But it can be available from the corresponding author upon reasonable request.
Citation
Junça Silva, A. and Dias, R. (2023), "The role of financial status, attitudes, behaviours and knowledge for overall well-being in Portugal: the mediating role of financial well-being", International Journal of Organizational Analysis, Vol. 31 No. 7, pp. 3668-3685. https://doi.org/10.1108/IJOA-08-2022-3385
Publisher
:Emerald Publishing Limited
Copyright © 2022, Emerald Publishing Limited