Financial Stress and Well-being of Filipino Students: The Moderating Role of External Locus-of-hope

Abstract

Copyright @ 2018 psyChologiCal assoCiation of the philippines One of the core principles of positive psychology is that character strengths buffer the effects of adverse experiences on well-being. This study investigated whether external locus-of-hope (LOH) moderates the effects of financial stress on Filipino students' well-being. Students from various universities answered questionnaires that included scales for financial stress, internal and external LOH, and satisfaction with life; all the relevant scales had good psychometric properties with the current sample. As expected, life satisfaction was negatively predicted by financial stress and positively predicted by three LOH dimensions. More importantly, external-family LOH moderated the relationship between financial stress and life satisfaction; there was no negative relationship between financial stress and life satisfaction among students with high external-family LOH. But the results also suggest that financial stress moderates the relationship between external-spiritual LOH and life satisfaction; external-spiritual LOH's positive relationship with life satisfaction is found only among those who experience low financial stress.

Measuring hope during the COVID-19 outbreak in the Philippines: development and validation of the state locus-of-Hope scale short form in Filipino

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The Moderating Effect of Gender on Adaptive Coping Mechanisms and Financial Stress

“…Stress statistics from the index indicates that university students suffer the most from stress due to financial matters (Tarsilano, 2019).In Australia, financial stress form higher percentage of psychological distress among the people in Western Sydney (Taylor, Stevens, Agho & Raphael, 2017).It is noted in a recent study that 43 percent and 49 percent of local and international university students respectively reported financially stressed conditions as their expenses exceeded their income, forcing some to skip meals in the course of their studies (Trounson, 2017). University students in the Philippines are noted for experiencing financial stress with a high quitting rate as a result of financial challenges (Bernardo & Resurrection, 2018). In the Philippines, financial stress has resulted in having a significant association with learning motivation and financial sustainability for international students Peprah, Balila, Mbokani & Riziki, 2019).…”

Psychological capital is associated with higher levels of life satisfaction and school belongingness

“…The extant literature has demonstrated that each of the four dimensions of PsyCap was linked to a variety of well-being outcomes. Hope has been positively correlated with general as well as specific domains of life satisfaction (Bernardo & Resurreccion, 2018; Bernardo, Yeung, Resurreccion, Resurreccion, & Khan, 2018; Luthans, Avolio, Avey, & Norman, 2007). Efficacy has been linked to greater perceptions of life satisfaction (Burger & Samuel, 2017; Marcionetti & Rossier, 2016; Suldo & Huebner, 2006).…”