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Impact of minimalist practices on consumer happiness and financial well-being

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  • Malik, Faiza
  • Ishaq, Muhammad Ishtiaq

Abstract

This study assesses the relationship between minimalism, financial well-being, and happiness. The role of age and spirituality and their impact on minimalism, happiness, and financial well-being is also investigated. The upward spiral theory of change posits that making positive lifestyle changes can bring about happiness and well-being and has been used as a theoretical framework. Data is conveniently collected from 343 Pakistani consumers using survey questionnaires and analyzed in SPSS and M Plus software. Results indicate that minimalism directly affects financial well-being, spirituality, and happiness. Similarly, financial well-being also has a direct positive impact on happiness. Minimalism has been found to indirectly effects happiness via financial well-being. Interestingly, age and spirituality have weakened the relationship between minimalism and happiness. In contrast, the role of age as a moderator between minimalism and spirituality is insignificant. This paper provides exciting insights into the relatively new concept of minimalism and its consequences.

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  • Malik, Faiza & Ishaq, Muhammad Ishtiaq, 2023. "Impact of minimalist practices on consumer happiness and financial well-being," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).
    • Handle: RePEc:eee:joreco:v:73:y:2023:i:c:s0969698923000802
    DOI: 10.1016/j.jretconser.2023.103333
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