Emotions related to time use in financial activities: Affective patterns in the US

Ignacio Giménez-Nadal (), José Alberto Molina and Jing Xiao ()
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Ignacio Giménez-Nadal: University of Zaragoza
Jing Xiao: University of Rhode Island, Kingston
Authors registered in the RePEc Author Service: Jose Ignacio Gimenez-Nadal ()

No 1089, Boston College Working Papers in Economics from Boston College Department of Economics

Abstract: This study examines how individuals in the US allocate time to financial activities and how these activities relate to their well-being. Using data from the American Time Use Survey (ATUS), we find that financial tasks occupy a minimal share of daily time—averaging just 8.3 minutes— yet are associated with elevated stress and low happiness. Despite their negative emotional valence, financial activities are perceived as meaningful. Regression analyses reveal that time spent on financial tasks increases with education and income, and varies by gender, employment status, and race. Fur- thermore, affective experiences during financial activities differ significantly across sociodemographic lines: men and older individuals report more negative emotions, while higher education is linked to improved emotional outcomes. These findings allows us to test several hypothesis proposed in previous finantial research, and highlight the cognitive and emotional demands of everyday financial management.

Keywords: Financial behavior; financial literacy; time use data; instant feelings. (search for similar items in EconPapers)
JEL-codes: D14 (search for similar items in EconPapers)
Date: 2025-06-12
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