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Open Access
Article
Publication date: 6 October 2021

Godfred Matthew Yaw Owusu

In this study, the author examines the effect of financial knowledge, financial attitude and responsible financial management behaviour on financial satisfaction and investigates…

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Abstract

Purpose

In this study, the author examines the effect of financial knowledge, financial attitude and responsible financial management behaviour on financial satisfaction and investigates the association between financial satisfaction and psychological wellbeing of individuals. The author examines these relationships having controlled for the influence of key demographic variables including age, gender, marital status, income level and employment status of respondents on the predicted relationships.

Design/methodology/approach

Data was gathered by means of a self-administered questionnaire to postgraduate business students from a large public university in Ghana. The hypothesized relationships of the study were tested using the Partial Least Square Structural Equation Modelling (PLS-SEM) technique.

Findings

The author shows from the structural model analysis using the bootstrapping procedure that financial knowledge, financial attitude and sound financial management behaviour have important implications on financial satisfaction levels of individuals. Further, the author finds financial satisfaction to be an important predictor of the psychological wellbeing of individuals.

Practical implications

The paper highlights the relevance of financial satisfaction on the psychological wellbeing of an individual and identifies some of the dominant factors that are associated with financial satisfaction.

Originality/value

This study examines the concept of financial satisfaction at the individual level and uniquely highlights the psychological implications of financial satisfaction.

Details

Journal of Humanities and Applied Social Sciences, vol. 5 no. 1
Type: Research Article
ISSN: 2632-279X

Keywords

Open Access
Article
Publication date: 26 October 2021

Godfred Matthew Yaw Owusu, Rita Amoah Bekoe, Miriam Arthur and Theodora Aba Abekah Koomson

This paper investigates the determinants of compulsive buying behaviour (CBB) and ascertains the effect of CBB on the propensity of an individual to be dependent on loans and fall…

4176

Abstract

Purpose

This paper investigates the determinants of compulsive buying behaviour (CBB) and ascertains the effect of CBB on the propensity of an individual to be dependent on loans and fall into financial trouble. The study additionally examines the moderating effect of financial management on the hypothesized relationships.

Design/methodology/approach

The survey method of research was adopted using questionnaires as the principal means of data collection. The predicted relationships of the study were tested using the partial least square structural equation modelling technique.

Findings

The authors’ results suggest materialism, socioeconomic status and financial management skills of an individual are significant predictors of CBB. The authors also find CBB to be positively associated with loan dependence and the authors’ analysis suggests financial management skills moderate the hypothesized relationships.

Social implications

Findings of this study suggest buying compulsively increases the risks of over-dependence on loans and can be indirectly associated with the risk of individuals falling into financial trouble.

Originality/value

The findings highlight the adverse effects of CBB on loan dependence and financial trouble and the moderating effect of financial management on the dominant factors that influence CBB.

Details

Journal of Business and Socio-economic Development, vol. 3 no. 3
Type: Research Article
ISSN: 2635-1374

Keywords

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