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The Use of the Intensive Longitudinal Methods to Study Financial Well-Being: A Scoping Review and Future Research Agenda

Author

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  • Angela Sorgente

    (Università Cattolica del Sacro Cuore)

  • Casey J. Totenhagen

    (University of Alabama)

  • Margherita Lanz

    (Università Cattolica del Sacro Cuore)

Abstract

Financial well-being is a positive financial condition that has an objective (e.g., income) and a subjective (e.g., financial satisfaction) side. Much research has examined financial well-being using cross-sectional and classic longitudinal designs. More recently, researchers have begun to examine financial well-being using intensive longitudinal designs, collecting data in a repeated (at least five measurements) and intensive (short time interval between measurements) way. The goal of the current study was to systematically review all published research on financial well-being using intensive longitudinal methods, summarize themes from this work, and suggest future research directions. Searching three databases (Scopus, PsycINFO, Econpapers), we found nine articles that respected inclusion and exclusion criteria. From each selected article, we extracted information about (1) research field diffusion, (2) data collection methods, (3) financial well-being’s definition and operationalization, (4) research questions addressed and (5) data analysis. Findings showed that most of the studies adopted an interval-contingent research design, collecting data once a day; that both the objective and subjective sides of the construct were assessed, and that, most of the time, the construct was conceptualized as financial stress (lack of financial well-being). Different kinds of research questions were addressed across studies and these were often analyzed using multilevel analysis. In the discussion section, future research directions are suggested.

Suggested Citation

  • Angela Sorgente & Casey J. Totenhagen & Margherita Lanz, 2022. "The Use of the Intensive Longitudinal Methods to Study Financial Well-Being: A Scoping Review and Future Research Agenda," Journal of Happiness Studies, Springer, vol. 23(1), pages 333-358, January.
    • Handle: RePEc:spr:jhappi:v:23:y:2022:i:1:d:10.1007_s10902-021-00381-6
    DOI: 10.1007/s10902-021-00381-6
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    References listed on IDEAS

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    Cited by:

    1. Zericho R. Marak & Vaishali Pagaria, 2023. "Antecedents and consequences of financial well-being: evidence from working professionals in India," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 70(3), pages 341-378, September.
    2. Angela Sorgente & Michela Zambelli & Margherita Lanz, 2023. "Are Financial Well-Being and Financial Stress the Same Construct? Insights from an Intensive Longitudinal Study," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 169(1), pages 553-573, September.

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