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2022 Annual Conference

May 19–21, 2022

Sheraton Sand Key, Clearwater Beach, FL, US

Proposal authors can use this tool to see where they have been placed in the program agenda for an Oral or Poster Session.

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Confirm your place in the schedule by going to the ACCI Presenter Confirm Google Sheet and marking your session with the name and email address of the author who will be attending and presenting. Each presentation must have a separate paid registraint. Contact the ACCI Office immedicately by email at admin@consumerinterests.org to report a conflict or if you have questions. Please be sure to reference the session title(s), date(s), and time(s) if you contact us.

F3b Maintaining Financial Well-Being: Differences in Response to Acute Versus Chronic Scarcity

Saturday, May 21, 2022 at 8:45 AM–10:15 AM EDT
Room 3
Key Words

acute scarcity, chronic scarcity, financial well-being, self-efficacy, help-seeking, financial stress

Short Description

Research on financial scarcity has been focused mainly on the impacts of chronic scarcity on consumer mindsets and behaviors. Less attention has been paid to the “acute scarcity,” a momentary lack of financial resources followed by recovery. Borrowing from the literature on acute stress, we suggest that scarcity can be more broadly viewed as a continuum ranging from no scarcity to chronic scarcity. In this study, we first examine the role that scarcity plays in well-being as well as how acute scarcity might offer a pivotal point at which an individual either descends into a more chronic state of scarcity or moves back to a state without scarcity. Second, we examine whether differences in the actions taken by individuals in response to scarcity mediate the relationship between the type of scarcity (i.e., acute versus chronic) and financial well-being. This study demonstrates that promoting higher levels of financial self-efficacy as well as adaptive responses (e.g., consulting a professional advisor) during an acute experience may be efficacious approaches to improving well-being. 

Submitter

Pan-Ju Chen, University of Georgia

Authors

Pan-Ju Chen, University of Georgia
Dee Warmath, University of Georgia
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