| Precursors and consequences of economic stress were studied in the context of basic psychological needs. Materialistic values, chronicity of financial distress, and stigmatic beliefs were examined as precursors of financial stress associated with deficits in psychological well-being, particularly the needs for autonomy, competence, and relatedness proposed by self-determination theory (SDT). An Internet-based survey method was used to study the financial attitudes, values, financial stress, and psychological well-being of 395 adults ranging in age from 18 to 91. Exposure to chronic financial stress and materialistic values in childhood were found to be predictive of higher materialism and financial stress in adulthood. The primary hypothesis was supported, that is, that materialism and financial stress predict a lower sense of psychological well-being. Clinical implications are explored.;Key words: financial stress, materialism, self-determination theory, economic distress, psychological well-being, internet... |
