Purpose

The purpose of this study is to examine the relationship between dispositional mindfulness and financial well-being (FWB) and the mediating role of materialism on this relationship.

Design/methodology/approach

A conceptual framework is provided to support the research hypotheses. A survey with 311 working professionals from India allowed the hypothesized relationship to be tested through regression-based models.

Findings

The findings reveal that the three dimensions of FWB – financial anxiety, current money management stress and perceived financial security – are predicted by mindfulness and materialism even after controlling for several demographic variables. Materialism mediates the relationship between mindfulness and FWB.

Research limitations/implications

The findings are subject to the usual cautions associated with self-reported cross-sectional data. Future research may incorporate mindfulness interventions to establish causal relationships.

Practical implications

The study provides theoretical guidance to the policymakers and the financial institutions, including banks, which may focus on malleable factors beyond merely income to enhance FWB. Mindfulness is not only a trait but also could be cultivated by various physical and online-based mindfulness practices. Banks may integrate tools promoting mindfulness within their interactive web framework in order to stimulate customers' control over their daily spending through enhancing mindful awareness of present financial actions and their impact on the financial future. Thus, organizations may institutionalize such programs within their framework to help their employees cultivate greater FWB. Mindfulness promotes less anxiety related to financial decisions, which may develop customers' value as well as business opportunities for banks.

Originality/value

Unlike other FWB dispositional antecedents, which become relatively stable at the formative stage, mindfulness levels can be enhanced in different age-groups. To our knowledge, this is the first study to empirically establish that mindfulness exerts its beneficial effects on FWB directly, and, through reducing materialistic motives.

中文翻译：

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通过唯物主义将正念与财务福祉联系起来：来自印度的证据

目的

本研究的目的是检验气质正念与财务福祉 (FWB) 之间的关系以及唯物主义在这种关系中的中介作用。

设计/方法/方法

提供了一个概念框架来支持研究假设。对来自印度的 311 名工作专业人士进行的调查允许通过基于回归的模型测试假设的关系。

发现

研究结果表明，即使在控制了几个人口统计变量之后，正念和物质主义也可以预测 FWB 的三个维度——财务焦虑、当前的资金管理压力和感知的财务安全。唯物主义调解了正念和 FWB 之间的关系。

研究限制/影响

调查结果受制于与自我报告的横截面数据相关的通常注意事项。未来的研究可能会结合正念干预来建立因果关系。

实际影响

该研究为政策制定者和包括银行在内的金融机构提供了理论指导，他们可能会关注不仅仅是收入的可塑性因素，以提高 FWB。正念不仅是一种特质，而且可以通过各种身体和在线正念练习来培养。银行可以在其交互式网络框架中整合促进正念的工具，以通过增强对当前金融行为及其对金融未来影响的正念意识来刺激客户对日常支出的控制。因此，组织可以在其框架内将此类计划制度化，以帮助其员工培养更大的 FWB。正念可以减少与财务决策相关的焦虑，这可能会为银行开发客户价值和商机。

原创性/价值

与其他在形成阶段变得相对稳定的 FWB 倾向前因不同，正念水平可以在不同年龄组中得到提高。据我们所知，这是第一项根据经验确定正念直接对 FWB 产生有益影响的研究，并通过减少物质动机。