The effect of psychological factors on financial behaviour among older Australians: Evidence from the early stages of COVID-19 pandemic

被引:1
|
作者
Arya, Vandana [1 ]
Banerjee, Rajabrata [1 ]
Lowies, Braam [1 ,2 ]
Viljoen, Christa [1 ]
Lushington, Kurt [3 ]
机构
[1] Univ South Australia, UniSA Business, Adelaide, SA, Australia
[2] Univ Pretoria, Dept Financial Management, Pretoria, South Africa
[3] Univ South Australia, UniSA Justice & Soc, Adelaide, SA, Australia
来源
PLOS ONE | 2023年 / 18卷 / 06期
关键词
HOPE; GENDER; MANAGEMENT; RISK;
D O I
10.1371/journal.pone.0286733
中图分类号
O [数理科学和化学]; P [天文学、地球科学]; Q [生物科学]; N [自然科学总论];
学科分类号
07 ; 0710 ; 09 ;
摘要
The current study investigated the association between psychological factors and financial behaviour during the COVID-19 pandemic in older people. Older people were chosen compared to other age groups because of the relatively greater impact in this age group of suboptimal financial decisions on future financial wellbeing. We hypothesised that the psychological factors facilitating general wellbeing during the COVID-I9 pandemic, i.e., positive mental wellbeing, hope, and positive coping, will have positive effects on financial behaviour. Based on telephone interviews, 1501 older Australians (Men = 750 and Women = 751; 55-64y = 630; > 65y = 871) completed an omnibus questionnaire examining coping, hope, mental wellbeing, and financial behaviour. Data was analysed using logistic regression and an ordinary and two-stage least square frameworks. Analyses revealed that the psychological factors identified as facilitating general wellbeing during the COVID-I9 pandemic also facilitated positive financial behaviour with hope and mental wellbeing emerging as significant determinants. Based on weightings from principal component analysis, one item each from the hope and mental wellbeing scale with eigenvalues > 1 were found to be robust predictors of positive financial behaviours. In conclusion, the findings support the assumption that the psychological factors associated with general wellbeing during the COVID-19 pandemic are also associated with positive financial behaviour. They further raise the possibility that single hope and positive mental well-being items can also be used to monitor psychological health and predict financial behaviour in older people and, in particular, at times of crisis. The latter may be useful measures for government to monitor psychological and financial wellbeing and inform policy for supporting older people at times of crisis.
引用
收藏
页数:17
相关论文
共 50 条
  • [21] Information management in the early stages of the COVID-19 pandemic
    Kosack, Emmanuel
    Stone, Merlin
    Sanders, Karen
    Aravopoulou, Eleni
    Biron, Davide
    Brodsky, Sergio
    Al Dhaen, Esra Saleh
    Mahmoud, Mohammed
    Usacheva, Anastasia
    BOTTOM LINE, 2021, 34 (01): : 20 - 44
  • [22] Psychological entitlement and conspiracy beliefs: evidence from the COVID-19 pandemic
    Neville, Lukas
    Fisk, Glenda M.
    Ens, Katarina
    JOURNAL OF SOCIAL PSYCHOLOGY, 2025, 165 (01): : 65 - 87
  • [23] Pandemic of Covid-19 Effect to Psychological Adolescents
    Mauliah, Failal Ulfi
    Tosepu, Ramadhan
    BALI MEDICAL JOURNAL, 2023, 12 (02) : 95 - 98
  • [24] COVID-19: Financial well-being of older Australians in times of crisis
    Jhuremalani, Arti
    Potter, Rachael
    Lushington, Kurt
    Lowies, Braam
    AUSTRALASIAN JOURNAL ON AGEING, 2022, 41 (03) : 440 - 447
  • [25] Stress-related growth in the early stages of the COVID-19 pandemic: Evidence from a panel study
    Manole, Elena Cristina
    Curseu, Petru Lucian
    PERSONALITY AND INDIVIDUAL DIFFERENCES, 2024, 222
  • [26] UNEMPLOYMENT BEHAVIOUR IN THE COVID-19 PANDEMIC: EVIDENCE FROM DEVELOPING COUNTRIES
    Tang, Chor Foon
    Abosedra, Salah
    INTERNATIONAL JOURNAL OF BUSINESS AND SOCIETY, 2023, 24 (01): : 164 - 183
  • [27] Factors Affecting Psychological Health in the COVID-19 Pandemic
    Santosha, Sherien
    Tiwari, Vatsalya
    Chand, Sharad
    Dikkatwar, Manoj S.
    Roy, Supriya
    Bindu, Radhika
    CURRENT PSYCHIATRY RESEARCH AND REVIEWS, 2025, 21 (02) : 145 - 161
  • [28] Combating COVID-19 Vaccine Inequity During the Early Stages of the COVID-19 Pandemic
    Marissa Mortiboy
    John-Paul Zitta
    Savannah Carrico
    Elizabeth Stevens
    Alecia Smith
    Corey Morris
    Rodney Jenkins
    Jeffrey D. Jenks
    Journal of Racial and Ethnic Health Disparities, 2024, 11 : 621 - 630
  • [29] Combating COVID-19 Vaccine Inequity During the Early Stages of the COVID-19 Pandemic
    Mortiboy, Marissa
    Zitta, John-Paul
    Carrico, Savannah
    Stevens, Elizabeth
    Smith, Alecia
    Morris, Corey
    Jenkins, Rodney
    Jenks, Jeffrey D.
    JOURNAL OF RACIAL AND ETHNIC HEALTH DISPARITIES, 2024, 11 (02) : 621 - 630
  • [30] Psychological trauma and unsafe behaviour during the COVID-19 pandemic
    Cao, Y.
    Siu, J. Y. M.
    Shum, D. H. K.
    EUROPEAN JOURNAL OF PUBLIC HEALTH, 2021, 31 : 10 - 10