College students' motivations for money and subjective well-being |
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Authors: | Robak Rostyslaw W Chiffriller Sheila H Zappone Melinda C |
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Institution: | Psychology Department, Pace University, 861 Bedford, Rd., Pleasantville, NY 10570, USA. rrobak@pace.edu |
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Abstract: | Previous research indicates that, while making money is important to college students, it is negatively correlated with subjective well-being. This study asked 157 undergraduate business and psychology students about the importance of making money, their motives for doing so, and several dimensions of subjective well-being: satisfaction with life, self-actualization, and mood/affect. Making money remains very important to college students. Being motivated to make money was not globally related to subjective well-being, but wanting to make money to help others, to feel secure, and to feel proud of oneself were predictive of happiness or subjective well-being. Motives such as comparing oneself favorably to others, spending impulsively, and overcoming self-doubt were not correlated with subjective well-being. Business students appeared more motivated to make money than other students and also to have more negative affect. |
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