Relationship between financial stress and happiness among Nigerians: the intermediary role of meaning of life

Alex I. Shaahu and James T. Gire

International Journal of Happiness and Development, 2023, vol. 8, issue 2, 128-154

Abstract: The current study utilising a moderated mediation analysis investigated the impact of financial stress and meaning in life on happiness in a community-based sample of 482 individuals, aged 18-78 years in Makurdi, the Benue State Capital in North Central Nigeria. The satisfaction with life scale (SWLS), the economic strain scale, and meaning in life questionnaire (MLQ) were used in gathering the data which were analysed using Hayes' process macro. The results showed that financial stress was negatively associated with happiness and presence of meaning, but was positively associated with search for meaning. The presence of meaning partially mediated the financial stress-happiness relationship, and the strength of this partial mediation was moderated by the search for meaning. The findings suggest that under financial stress, presence of meaning may serve as a foundation upon which people initiate a search for meaning (SFM) that enables them cope with ongoing challenges that threatens their wellbeing.

Keywords: financial stress; meaning in life; happiness; Nigeria. (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijhdev:v:8:y:2023:i:2:p:128-154

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