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The Role of Economizing and Financial Strain in Australian University Students' Psychological Well-Being

Watson, S.J., Barber, B.L. and Dziurawiec, S. (2015) The Role of Economizing and Financial Strain in Australian University Students' Psychological Well-Being. Journal of Family and Economic Issues, 36 (3). pp. 421-433.

Link to Published Version: http://dx.doi.org/10.1007/s10834-014-9404-5
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Abstract

University students have reported that they engage increasingly in more financial economizing behaviors to cope with limited resources, often to the detriment of their well-being. The objectives of this study were to investigate the mediating role of perceived financial strain between economizing behaviors and depressed mood and life satisfaction, and to compare this mediator model to the prevailing direct effects model currently reflected in the literature. Using structural equation modelling, latent-variable mediation analysis supported the notion that economizing behaviors significantly, but indirectly, predict greater depressed mood and lower life satisfaction through perceived financial strain. When examined using non-hierarchical model comparison indices, the mediation model was a superior fit to the data, compared to the direct effects model.

Publication Type: Journal Article
Murdoch Affiliation: School of Psychology and Exercise Science
Publisher: Springer
Copyright: © 2015 Springer
URI: http://researchrepository.murdoch.edu.au/id/eprint/22179
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