Perceived financial and health threats and wellbeing: the role of personal control in different life domains

TL;DR

This paper explores how threats to finances and health affect wellbeing through personal control in different life areas like work, relationships, and health.

Contribution

The study reveals that perceived personal control varies across life domains and mediates the effects of financial and health threats on wellbeing.

Findings

Higher financial threat reduces wellbeing via reduced control over health, work, and finances.

Increased health threat lowers wellbeing via reduced control over relationships and health.

Different life domains of personal control mediate the impact of financial versus health threats on wellbeing outcomes.

Abstract

Contexts of heightened economic or health instability present a threat to perceived personal control and wellbeing. Although perceived personal control has been fundamentally postulated as a unitary category, there is some evidence suggesting that levels of perceived personal control might vary throughout different areas of life.

Across three independent studies (N = 2646) we examined, through a series of online surveys, whether perceived personal control in different life domains (i.e., control over close relationships, health, work, and finances) mediates the linkages of perceived financial and health threats with subjective wellbeing (i.e., life satisfaction and happiness), self-rated health status, and psychological distress.

Higher perceived financial threat was related to diminished subjective wellbeing via perceived personal control over health, work (Studies 1 and 3), and finances (Study 3). Moreover, increased perceived health threat was associated with lower subjective wellbeing via perceived personal control over close relationships (Study 2) and health (Studies 2 and 3).

Overall, these findings suggest that distinct domains of perceived personal control may underlie the relationships between various sources of perceived threat (economic vs. health) and well-being outcomes.

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