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E3c Hope as a Mediator of the Relationship Between Social Comparison and Financial Well-Being: A Cross-Cultural Study
Key Words
hope, social comparison, financial well-being
Short Description
Studies have found that higher levels of social comparison are associated with higher levels of debt and lower levels of satisfaction with income. Yet social comparison seems to be a natural method for humans to examine how they are doing. Relatively little attention has been paid to mediators of these relationships. This study examines the role of hope (i.e., pathways and agency) as a mediator of the relationship between social comparison and financial well-being. It finds that while the direct effect of social comparison on financial well-being is negative, the indirect effect through hope is positive and significant. These findings suggest that the purpose and approach of social comparison may have a role to play in its effect on financial well-being. Perhaps a focus on how others are addressing financial goals rather than what they have offers a more favorable comparison.
First & Corresponding Author
Pan-Ju Chen, University of Georgia
Authors in the order to be printed
Pan-Ju Chen, Dee Warmath