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Future Expectations and Financial Satisfaction

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  • Tracey West
  • Michelle Cull

Abstract

Advances in conceptualisation of financial well‐being include factoring future outlook into models, as consumers under financial stress can still expect to be better off in the future. This study applies a financial well‐being framework to Australian university students, defining financial well‐being to be made up of a set of personal attributes, current money management indicators and expectations about the financial future. We find that being least satisfied with financial situation is associated with higher likelihoods of using short‐term credit, not having a financial safety net, not being willing to take financial risks and having negative expectations of the future. The results of this study are useful for educators and policy‐makers in designing policies and programmes for university students.

Suggested Citation

  • Tracey West & Michelle Cull, 2020. "Future Expectations and Financial Satisfaction," Economic Papers, The Economic Society of Australia, vol. 39(4), pages 318-335, December.
    • Handle: RePEc:bla:econpa:v:39:y:2020:i:4:p:318-335
    DOI: 10.1111/1759-3441.12292
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    References listed on IDEAS

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    2. William A. Barnett & Kun He & Jingtong He, 2022. "Consumption Loan Augmented Divisia Monetary Index and China Monetary Aggregation," JRFM, MDPI, vol. 15(10), pages 1-17, October.
    3. Robert Powell & Anh Do & Denise Gengatharen & Jaime Yong & Rasiah Gengatharen, 2023. "The relationship between responsible financial behaviours and financial wellbeing: The case of buy‐now‐pay‐later," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 4431-4451, December.
    4. Hassan F. Gholipour & Reza Tajaddini & Farhad Taghizadeh-hesary, 2022. "Individuals’ Financial Satisfaction and National Priority: A Global Perspective," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 160(1), pages 159-177, February.

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