Resumen

SUAREZ RODRIGUEZ, Ernesto Jesús; HERNANDEZ RUIZ, Bernardo; MUINOS TRUJILLO, Gabriel  y  ALONSO VALDIVIA, Leyre. Financial Self-Efficacy, Frugality, and Life Satisfaction. Does income affect the relationship?. Psicumex [online]. 2022, vol.12, e419.  Epub 08-Ago-2022. ISSN 2007-5936.  https://doi.org/10.36793/psicumex.v12i1.419.

Frugal behavior is focused on a voluntary reduction in consumption as a result of combining an ingenious use of resources and voluntary restriction of spending on new products and services. However, for frugal behavior to be a plausible alternative, frugality must be associated with positive psychological elements rather than with constant effort. In this study, we analyzed the relationship between frugal behavior, financial self-efficacy and, satisfaction with life, taking into account people's economic resources. We conducted two correlational studies with 186 university students and 154 participants from the general population, respectively. The results obtained in both studies indicate that frugal behavior requires that people perceive themselves as capable of saving and to be competent in the use of resources. We also observed a significant relationship between frugal behavior and satisfaction with life, although in the second study we found that this relationship was moderated by income level. Frugal behavior is associated with higher life satisfaction in people with higher income levels but is associated with lower life satisfaction in those with lower incomes. Therefore, frugal consumption can be a positive consumption alternative associated with well-being, to the extent that the perceived and objective resources are sufficient for people to be able to choose their own consumption style.

Palabras llave : frugal behavior; self-efficacy; economic income; life satisfaction; social relationships.

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