Role of Psychological Characteristics in Optimising the Subjective Sense of Economic Well-being

Abstract

The paper focuses on personal determinants (self-esteem, coping strategies, locus of control) of subjective economic well­being. On the first stage of research the most effective subjective economy-related predictors of satisfaction with life and happiness were found. Future changes expectations turned out to be the best subjective economy-related predictor of happiness, while satisfaction with standard of living explained the biggest percent of variance in satisfaction with life. On the second stage psychological correlates of subjective economic well-being' components were determined. The study also contributes to investigation of the problem of distinction between the cognitive and affective aspects of subjective quality of life.