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Psychosocial linkages of consumers' income security, financial well-being and social loneliness

Brent Smith (Emerson College, Boston, Massachusetts, USA)
Sereikhuoch Eng (Emerson College, Boston, Massachusetts, USA)

International Journal of Bank Marketing

ISSN: 0265-2323

Article publication date: 5 January 2024




Extant research suggests that consumers value the pursuit, attainment and retention of income security and financial well-being (FWB). The authors aim to expand the relevant literature by examining how consumers' psychosocial characteristics affect and are affected by the pursuit of those objectives.


The authors utilize partial least squares structural equation modeling (PLS-SEM) to evaluate the authors' hypotheses based on a sample of USA and Canadian consumers (n = 619).


The authors' PLS-SEM results provide support for the authors' hypotheses, indicating that individuals' insecure attachments – anxious and avoidant – relate negatively to their income security and FWB. The authors' results also show that these two desirable states relate positively to individuals' undesirable state of social loneliness.

Research limitations/implications

The authors' methodology and findings illuminate the positioning of psychosocial factors as antecedents to and outcomes of income security and FWB. This research also provides a basis for understanding the linear vs curvilinear influences of income security on an individual’s social life.


In the present empirical study, the authors present a rare empirical examination of individuals' income security and FWB as outcomes of their psychosocial profile vis-à-vis insecure attachments. Drawing on established psychometric scales, this study expands the consumer psychology and FWB literature, showing significant linkages between insecure attachments, income security, FWB and social loneliness.



Smith, B. and Eng, S. (2024), "Psychosocial linkages of consumers' income security, financial well-being and social loneliness", International Journal of Bank Marketing, Vol. ahead-of-print No. ahead-of-print.



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