A1 Journal article (refereed)
Income and Mental Well-Being : Personality Traits as Moderators (2020)

Syren, S., Kokko, K., Pulkkinen, L., & Pehkonen, J. (2020). Income and Mental Well-Being : Personality Traits as Moderators. Journal of Happiness Studies, 21(2), 547-571. https://doi.org/10.1007/s10902-019-00076-z

JYU authors or editors

Publication details

All authors or editors: Syren, Susanne; Kokko, Katja; Pulkkinen, Lea; Pehkonen, Jaakko

Journal or series: Journal of Happiness Studies

ISSN: 1389-4978

eISSN: 1573-7780

Publication year: 2020

Volume: 21

Issue number: 2

Pages range: 547-571

Publisher: Springer

Publication country: Netherlands

Publication language: English

DOI: https://doi.org/10.1007/s10902-019-00076-z

Publication open access: Openly available

Publication channel open access: Partially open access channel

Publication is parallel published (JYX): https://jyx.jyu.fi/handle/123456789/68224

Abstract

Using data from the participants of the Jyväskylä Longitudinal Study of Personality and Social Development (JYLS) at ages 42 and 50 (N = 326), this study provides empirical evidence of the relation between income and mental well-being and of the possible role of personality traits in modifying this relation. The relationships were analyzed using pooled ordinary least squares (OLS; bi- and multivariate settings) and fixed effects estimations (FE; multivariate settings). Positive bivariate associations were found between gross monthly income and the sum score of mental well-being and its separate dimensions (emotional, psychological, and social well-being and the absence of depression) as well as between experienced household finances and the sum score of mental well-being and its separate dimensions (except for social well-being). The multivariate OLS analyses detected positive relationships between gross monthly income and the absence of depression and between experienced household finances and mental well-being, along with one of its dimensions, i.e., emotional well-being. Further, the marginal utility of income appeared to depend on personality traits (FE): agreeableness and extraversion negatively moderated the gross monthly income–emotional well-being relationship, while openness positively moderated this relationship. In addition to emotional well-being, extraversion negatively moderated the relationship between gross monthly income and general mental well-being, and neuroticism negatively moderated the association between gross monthly income and social well-being.

Keywords: mental well-being; well-being; depression (mental disorders); income; personality traits; personality theories; big five model

Free keywords: emotional well-being; psychological well-being; social well-being; depression; Big Five personality trait

Contributing organizations

Ministry reporting: Yes

VIRTA submission year: 2020

JUFO rating: 1