IDEAS home Printed from https://ideas.repec.org/a/gam/jijerp/v17y2020i4p1190-d320038.html
   My bibliography  Save this article

Link between Financial Management Behaviours and Quality of Relationship and Overall Life Satisfaction among Married and Cohabiting Couples: Insights from Application of Artificial Neural Networks

Author

Listed:
  • Monika Baryła-Matejczuk

    (Institute of Psychology and Human Sciences, University of Economics and Innovation, 20-209 Lublin, Poland)

  • Viktorija Skvarciany

    (Faculty of Business Management, Vilnius Gediminas Technical University, LT-10223 Vilnius, Lithuania)

  • Andrzej Cwynar

    (Institute of Public Administration, Business and Management, University of Economics and Innovation, 20-209 Lublin, Poland)

  • Wiesław Poleszak

    (Institute of Psychology and Human Sciences, University of Economics and Innovation, 20-209 Lublin, Poland)

  • Wiktor Cwynar

    (Institute of Public Administration, Business and Management, University of Economics and Innovation, 20-209 Lublin, Poland)

Abstract

Background: To explain the link between household finances and the quality of the relationship between married or cohabitating partners and their life satisfaction, the Family Stress Model (FSM) was used and placed within the theoretical framework of the Couples and Finances Theory (CFT). Methods: The measures used to examine the relationship between partners were the Financial Management Behaviour Scale, the Marriage Questionnaire (KDM-2) adapted to a version for cohabitating couples, The Shared Goals and Values Scale, Harsh Start-up Scale, and the Satisfaction With Life Scale (SWLS). In order to find out the relationship between variables, artificial neural networks (ANN) were applied. The research was conducted on a sample of 500 couples living in Poland (384 married and 116 cohabitating couples). Results: The results indicate that overall life satisfaction is most influenced by fundamental, direct, current ways of dealing with the daily financial routine and by saving and investing behaviours. Credit management and insurance behaviours are the most important for the quality of the relationship between partners. Conclusions: The research shows that financial management behaviours have an impact on the quality of relationships as well as on the subjective well-being of people in a relationship, and their relationship dynamics. This finding may be used to highlight the psychological importance of financial management behaviours.

Suggested Citation

  • Monika Baryła-Matejczuk & Viktorija Skvarciany & Andrzej Cwynar & Wiesław Poleszak & Wiktor Cwynar, 2020. "Link between Financial Management Behaviours and Quality of Relationship and Overall Life Satisfaction among Married and Cohabiting Couples: Insights from Application of Artificial Neural Networks," IJERPH, MDPI, vol. 17(4), pages 1-16, February.
  • Handle: RePEc:gam:jijerp:v:17:y:2020:i:4:p:1190-:d:320038
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1660-4601/17/4/1190/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/1660-4601/17/4/1190/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Angus Deaton & Arthur A. Stone, 2013. "Two Happiness Puzzles," American Economic Review, American Economic Association, vol. 103(3), pages 591-597, May.
      • Arthur A. Stone & Angus Deaton, 2013. "Two happiness puzzles," Working Papers 2013-3, Princeton University, Woodrow Wilson School of Public and International Affairs, Center for Health and Wellbeing..
    2. Sonya Britt & Sandra Huston, 2012. "The Role of Money Arguments in Marriage," Journal of Family and Economic Issues, Springer, vol. 33(4), pages 464-476, December.
    3. Carmel Proctor & P. Linley & John Maltby, 2009. "Youth Life Satisfaction: A Review of the Literature," Journal of Happiness Studies, Springer, vol. 10(5), pages 583-630, October.
    4. Jeffrey Dew, 2007. "Two Sides of the Same Coin? The Differing Roles of Assets and Consumer Debt in Marriage," Journal of Family and Economic Issues, Springer, vol. 28(1), pages 89-104, March.
    5. Louis Tay & Cassondra Batz & Scott Parrigon & Lauren Kuykendall, 2017. "Debt and Subjective Well-being: The Other Side of the Income-Happiness Coin," Journal of Happiness Studies, Springer, vol. 18(3), pages 903-937, June.
    6. Brown, Sarah & Gray, Daniel, 2016. "Household finances and well-being in Australia: An empirical analysis of comparison effects," Journal of Economic Psychology, Elsevier, vol. 53(C), pages 17-36.
    7. Jing Xiao & Chuanyi Tang & Soyeon Shim, 2009. "Acting for Happiness: Financial Behavior and Life Satisfaction of College Students," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 92(1), pages 53-68, May.
    8. Ed Diener & Ed Sandvik & Larry Seidlitz & Marissa Diener, 1993. "The relationship between income and subjective well-being: Relative or absolute?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 28(3), pages 195-223, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Brandan E. Wheeler & Cecilia Brooks, 2023. "Financial Concerns, Relationship Happiness, and Financial Management Behaviors: A Moderating Relationship Among Married and Cohabiting Respondents," Journal of Family and Economic Issues, Springer, vol. 44(2), pages 325-341, June.
    2. Jinhee Kim & Mariana K. Falconier & C. Andrew Conway, 2023. "Relationships Among Emotion Regulation, Financial Self-Efficacy, and Financial Management Behaviors of Couples," Journal of Family and Economic Issues, Springer, vol. 44(2), pages 342-355, June.

    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. Andrzej Cwynar & Wiktor Cwynar & Monika Baryła-Matejczuk & Moises Betancort, 2019. "Sustainable Debt Behaviour and Well-Being of Young Adults: The Role of Parental Financial Socialisation Process," Sustainability, MDPI, vol. 11(24), pages 1-26, December.
    2. Melissa A. Curran & Emily Parrott & Sun Young Ahn & Joyce Serido & Soyeon Shim, 2018. "Young Adults’ Life Outcomes and Well-Being: Perceived Financial Socialization from Parents, the Romantic Partner, and Young Adults’ Own Financial Behaviors," Journal of Family and Economic Issues, Springer, vol. 39(3), pages 445-456, September.
    3. 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.
    4. Ashley B. LeBaron & E. Jeffrey Hill & Christina M. Rosa & Travis J. Spencer & Loren D. Marks & Joshua T. Powell, 2018. "I Wish: Multigenerational Regrets and Reflections on Teaching Children About Money," Journal of Family and Economic Issues, Springer, vol. 39(2), pages 220-232, June.
    5. Gagandeep Kaur & Manjit Singh & Sanjay Gupta, 2023. "Analysis of key factors influencing individual financial well-being using ISM and MICMAC approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(2), pages 1533-1559, April.
    6. Bryce L. Jorgensen & David B. Allsop & Samuel D. Runyan & Brandan E. Wheeler & David A. Evans & Loren D. Marks, 2019. "Forming Financial Vision: How Parents Prepare Young Adults for Financial Success," Journal of Family and Economic Issues, Springer, vol. 40(3), pages 553-563, September.
    7. Jantsch, Antje & Le Blanc, Julia & Schmidt, Tobias, 2022. "Wealth and subjective well-being in Germany," Discussion Papers 11/2022, Deutsche Bundesbank.
    8. Jing Jian Xiao & Kyoung Tae Kim, 2022. "The Able Worry More? Debt Delinquency, Financial Capability, and Financial Stress," Journal of Family and Economic Issues, Springer, vol. 43(1), pages 138-152, March.
    9. Xie, Xiaoxia & Xie, Meichun & Jin, Huiying & Cheung, Shannon & Huang, Chien-Chung, 2020. "Financial support and financial well-being for vocational school students in China," Children and Youth Services Review, Elsevier, vol. 118(C).
    10. Brandan E. Wheeler & Jennifer L. Kerpelman & Jeremy B. Yorgason, 2019. "Economic Hardship, Financial Distress, and Marital Quality: The Role of Relational Aggression," Journal of Family and Economic Issues, Springer, vol. 40(4), pages 658-672, December.
    11. Jantsch, Antje & Le Blanc, Julia & Schmidt, Tobias, 2024. "Beyond income: Exploring the role of household wealth for subjective well-being in Germany," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 25(7).
    12. Dolan, Paul & Foy, Chloe & Kavetsos, Georgios & Kudrna, Laura, 2021. "Faster, higher, stronger… and happier? Relative achievement and marginal rank effects," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 95(C).
    13. Jing Jian Xiao & Chunsheng Tao, 2020. "Consumer finance/household finance: the definition and scope," China Finance Review International, Emerald Group Publishing Limited, vol. 11(1), pages 1-25, June.
    14. Gagandeep Kaur & Manjit Singh, 2024. "Pathways to Individual Financial Well-Being: Conceptual Framework and Future Research Agenda," FIIB Business Review, , vol. 13(1), pages 27-41, January.
    15. Tinghui Li & Junhao Zhong & Mark Xu, 2019. "Does the Credit Cycle Have an Impact on Happiness?," IJERPH, MDPI, vol. 17(1), pages 1-19, December.
    16. 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).
    17. Matthew Brzozowski & Brenda Spotton Visano, 2020. "“Havin’ Money’s Not Everything, Not Havin’ It Is”: The Importance of Financial Satisfaction for Life Satisfaction in Financially Stressed Households," Journal of Happiness Studies, Springer, vol. 21(2), pages 573-591, February.
    18. Fumagalli, Elena & Fumagalli, Laura, 2022. "Subjective well-being and the gender composition of the reference group: Evidence from a survey experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 194(C), pages 196-219.
    19. Narang Park & Jae Min Lee & Wookjae Heo, 2021. "Life Satisfaction in Time Orientation," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 16(4), pages 1717-1731, August.
    20. Knies, Gundi, 2017. "Income effects on children’s life satisfaction: longitudinal evidence for England," ISER Working Paper Series 2017-02, Institute for Social and Economic Research.

    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:gam:jijerp:v:17:y:2020:i:4:p:1190-:d:320038. 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: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.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.