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2023 Annual Conference

May 16–18, 2023

Palace Station Hotel & Casino, Las Vegas, NV, US

IMPORTANT NOTICE: The date, time, and room assignment of YOUR presentation is SUBJECT TO CHANGE.

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Confirm your place in the schedule by following the instructionss that were emailed to you. Each presentation must have a separate paid registration. Contact the ACCI office immedicately by email at admin@consumerinterests.org to report any conflict, all corrections to the details of the presentation (including author names and the order they are listed as this is how it will be in the final program), or if you have any questions. Please be sure to reference the session title(s), date(s), and time(s) when you contact us.

A3a Impact of a Resilient Personality and Financial Resilience Framework on Well-Being During the Covid-19 Pandemic

Tuesday, May 16, 2023 at 3:30 PM–5:00 PM PDT
Room 3
Short Description

Covid-19 has had an impact on Americans’ physical, financial, and mental well-being (Kachanoff et al, 2021). Using primary data (n = 3,090) collected in 2021, this study utilized two empirically based frameworks of resiliency (multidimensional financial resilience framework and theory of resilient personality) to explore what led to well-being despite a crisis such as Covid-19. The multidimensional financial resilience framework is composed of four factors: economic resources, access to financial resources, financial knowledge and behavior, and social capital. It posits that when individuals have knowledge of an adverse event and the resources to adapt successfully, it may help them cope with adversity (Morrow, 2008). A resilient personality (as opposed to an undercontrolled or overcontrolled personality) includes traits such as socio-emotional intelligence, self-control, cognitive flexibility, and an ability to tolerate ambiguity well. Their inner vision allows them to see every challenge not as a threat but as a time to gather internal resources to put a positive and effective resistance into place (Asendorpf et al., 1999). Statistical analyses were completed with ANOVA and OLS models to address the question “Are the financial resilience framework and the resilient personality complements or substitutes when coping with a crisis?”

Type of presentation

Accepted Oral Presentation

Submitter

Megan McCoy, Kansas State University

Authors

Ives Machiz, Kansas State
Megan McCoy, Kansas State University
Kimberly Watkins, University of Georgia
Kenneth White, University of Arizona
Zibei Chen, University of Tennessee Knoxville
Mia Russell, Johns Hopkins University
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