Investigating of direct and indirect effects of self-control and future time perspective on financial well-being

Document Type : Original Article

Authors

1 Assistant Professor of Accounting, Department of Accounting, Faculty of Management and Economics, University of Sistan and Baluchestan- Iran

2 Assistant Prof., Department of Accounting and Finance, Faculty of Economics, Management and Accounting, Yazd University, Yazd, Iran

3 Assistant Professor, Department of Accounting and Financial Management, Marvdasht Branch, Islamic Azad university, Marvdasht, Iran

4 MSc., Department of Accounting, Shiraz Branch, Islamic Azad university, Shiraz, Iran.

Abstract

Financial well-being is getting more attention in research and consumer policy, but there is limited understanding of its determinants. In this paper, for the first study in Iran the effects of two psychological factors (self-control and future time perspective) are studied on two components of financial well-being (current money management stress and expected future financial security). This research method is exploratory, and uses survey data. It is also cross-sectional research. All people over 18 years old in different parts of the country constitute the statistical population of this research. The sample size was determined as 384 people according to Morgan's Table for very large population. However, to achieve superior reliability, 400 questionnaires were distributed online and 257 questionnaires gathered. In order to test the hypotheses of the research, the approach of structural equations modeling was used in SPSS and AMOS softwares. The find show that self-control and future time perspective have both direct and indirect effects on the components of financial well-being. The indirect effects are mediated by past and present financial behaviour. Self-control is the main determinant of current money management stress, while future time perspective is the main determinant of expected future financial security. Based on this results emphasize that financial well-being should not be treated as a one-dimensional construct. Instead, the interventions for improving financial well-being should clearly target either its present or future component and consider psychological characteristics in their design.

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Main Subjects

References

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Budget and Finance Strategic Research
Volume 6, Issue 3 - Serial Number 23
Autumn Quarterly
September 2025
Pages 131-160

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History

  • Receive Date: 28 December 2024
  • Revise Date: 27 June 2025
  • Accept Date: 27 September 2025

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