IDEAS home Printed from https://ideas.repec.org/a/spr/ariqol/v17y2022i1d10.1007_s11482-020-09875-6.html
   My bibliography  Save this article

Using Self-Determination Theory to Understand when and how Money Buys Happiness: a Cross-Sectional and Intervention Study

Author

Listed:
  • Lara Manganelli

    (UQAM)

  • Jacques Forest

    (ESG UQAM)

Abstract

The objectives of this article were twofold: (1) understand what motivates people to make money and how this impacts well-being and (2) explore whether it is possible to encourage the adoption of healthy reasons for making money. Using confirmatory factor analysis (n = 633), Study 1 found support for three broad categories of reasons for making money, namely Financial stability, Self-integrated and Non-integrated motives. Study 2 (n = 464) revealed that when individuals desire money for Financial stability and Self-integrated reasons, this encourages psychological need satisfaction and in turn leads to well-being. When money is pursued for Non-integrated reasons, this leads to the active thwarting of the psychological needs and in turn greater ill-being. Using structural equation modeling, Study 2 also suggests that materialism may be better conceptualized as a set of unhealthy reasons for desiring money. Finally, Study 3 (n = 41) provided preliminary evidence for the effectiveness of an intervention aiming to help individuals become aware of their own motives for making money and reduce unhealthy motives.

Suggested Citation

  • Lara Manganelli & Jacques Forest, 2022. "Using Self-Determination Theory to Understand when and how Money Buys Happiness: a Cross-Sectional and Intervention Study," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 17(1), pages 31-56, February.
    • Handle: RePEc:spr:ariqol:v:17:y:2022:i:1:d:10.1007_s11482-020-09875-6
    DOI: 10.1007/s11482-020-09875-6
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11482-020-09875-6
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s11482-020-09875-6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Donnelly, Grant & Ksendzova, Masha & Howell, Ryan T., 2013. "Sadness, identity, and plastic in over-shopping: The interplay of materialism, poor credit management, and emotional buying motives in predicting compulsive buying," Journal of Economic Psychology, Elsevier, vol. 39(C), pages 113-125.
    2. Richins, Marsha L & Dawson, Scott, 1992. "A Consumer Values Orientation for Materialism and Its Measurement: Scale Development and Validation," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 19(3), pages 303-316, December.
    3. Ed Diener & Robert Biswas-Diener, 2002. "Will Money Increase Subjective Well-Being?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 57(2), pages 119-169, February.
    4. Andrew B. Carver & John A. McCarty, 2013. "Personality and psychographics of three types of gamblers in the United States," International Gambling Studies, Taylor & Francis Journals, vol. 13(3), pages 338-355, December.
    5. Ryan Howell & Mark Kurai & Leona Tam, 2013. "Money Buys Financial Security and Psychological Need Satisfaction: Testing Need Theory in Affluence," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 110(1), pages 17-29, January.
    6. Andrew T. Jebb & Louis Tay & Ed Diener & Shigehiro Oishi, 2018. "Happiness, income satiation and turning points around the world," Nature Human Behaviour, Nature, vol. 2(1), pages 33-38, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ahuvia, Aaron, 2008. "If money doesn't make us happy, why do we act as if it does?," Journal of Economic Psychology, Elsevier, vol. 29(4), pages 491-507, August.
    2. Thomas Gries & Veronika Müller, 2020. "Conflict Economics and Psychological Human Needs," Working Papers CIE 135, Paderborn University, CIE Center for International Economics.
    3. KangJae Jerry Lee & Seonghee Cho & Eui Kyung Kim & Sunhwan Hwang, 2020. "Do More Leisure Time and Leisure Repertoire Make Us Happier? An Investigation of the Curvilinear Relationships," Journal of Happiness Studies, Springer, vol. 21(5), pages 1727-1747, June.
    4. Grace B. Yu & Dong-Jin Lee & M. Joseph Sirgy & Michael Bosnjak, 2020. "Household Income, Satisfaction with Standard of Living, and Subjective Well-Being. The Moderating Role of Happiness Materialism," Journal of Happiness Studies, Springer, vol. 21(8), pages 2851-2872, December.
    5. V. K. Shrotryia & Shashank Vikram Pratap Singh, 2020. "Measuring Progress Beyond GDP: A Theoretical Perspective," Emerging Economy Studies, International Management Institute, vol. 6(2), pages 143-165, November.
    6. Ngamaba, Kayonda Hubert & Armitage, Christopher & Panagioti, Maria & Hodkinson, Alexander, 2020. "How closely related are financial satisfaction and subjective well-being? Systematic review and meta-analysis," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 85(C).
    7. Foramitti, Joël, 2023. "A framework for agent-based models of human needs and ecological limits," Ecological Economics, Elsevier, vol. 204(PA).
    8. Miriam Tatzel, 2003. "The Art of Buying: Coming to Terms with Money and Materialism," Journal of Happiness Studies, Springer, vol. 4(4), pages 405-435, December.
    9. Long Wang & J. Murnighan, 2014. "Money, Emotions, and Ethics Across Individuals and Countries," Journal of Business Ethics, Springer, vol. 125(1), pages 163-176, November.
    10. Michael Gutter & Zeynep Copur, 2011. "Financial Behaviors and Financial Well-Being of College Students: Evidence from a National Survey," Journal of Family and Economic Issues, Springer, vol. 32(4), pages 699-714, December.
    11. Chack Wong & Ka Wong & Bong Mok, 2006. "Subjective Well-Being, Societal Condition and Social Policy – The Case Study of a Rich Chinese Society," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 78(3), pages 405-428, September.
    12. Elvisa Drishti & Zamira Shkreli & Edvin Zhllima & Blendi Gerdoçi, 2023. "Deprivation, Social Mobility Considerations, and Life Satisfaction: A Comparative Study of 33 European Countries," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 65(3), pages 511-550, September.
    13. Michael S. W. Lee & Christie Seo Youn Ahn, 2016. "Anti-consumption, Materialism, and Consumer Well-being," Journal of Consumer Affairs, Wiley Blackwell, vol. 50(1), pages 18-47, March.
    14. Jaspers, Esther, 2018. "Opening up on consumer materialism," Other publications TiSEM a21cb1c8-5af1-46cc-9ea0-a, Tilburg University, School of Economics and Management.
    15. Ottar Hellevik, 2003. "Economy, Values and Happiness in Norway," Journal of Happiness Studies, Springer, vol. 4(3), pages 243-283, September.
    16. Julia M. Puaschunder, 2023. "Behavioral Insights fostering Pay for Sustainability Remuneration Schemes," Scientia Moralitas Conference Proceedings 01258, Research Association for Interdisciplinary Studies.
    17. Braganza, Oliver, 2022. "Market paternalism: Do people really want to be nudged towards consumption?," ifso working paper series 23, University of Duisburg-Essen, Institute for Socioeconomics (ifso).
    18. J. Ian Norris & Jeff Larsen, 2011. "Wanting more than you have and it’s Consequences for Well-being," Journal of Happiness Studies, Springer, vol. 12(5), pages 877-885, October.
    19. M. Joseph Sirgy, 2018. "The Psychology of Material Well-Being," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 13(2), pages 273-301, June.
    20. Nanarpuzha, Rajesh & Sarin, Ankur, 2021. "A capability pathway to subjective economic well-being: Looking beyond materialism," Journal of Business Research, Elsevier, vol. 127(C), pages 66-76.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:ariqol:v:17:y:2022:i:1:d:10.1007_s11482-020-09875-6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.