ORCID
Mirosława Kaczmarek: 0000-0002-3844-6310
Keywords
financial wellbeing, psychological wellbeing, financial behaviour, personal finance
Abstract
Empirical research confirms that the financial behaviour of consumers differs from generation to generation – in terms of saving, spending money and also the use of credit. The main objective of this article is to determine the level of financial wellbeing and the relation between psychological wellbeing and financial wellbeing across three consumer age cohorts – generations X, Y and Z in Poland. To achieve this, a CAWI survey was conducted using the Consumer Financial Protection Bureau scale and the Ryff’s Psychological Wellbeing Scale. The results of the F-test show that although generational belonging does not statistically significantly differentiate financial wellbeing, generations X, Y and Z differ in terms of the assessment of their psychological wellbeing. The results of the correlation analysis indicate that the relationship between each dimension of psychological wellbeing and the financial wellbeing indicator is relatively weakest for Generation X and strongest for Millennials.
Acknowledgments
Funding
The research received no funds.
Declaration of Conflicting Interests
The author declared no potential conflicts of interest with respect to the research, authorship, and publication of the article.
Declaration About the Scope of AI Utilization
The author did not use an AI tool in the preparation of the article.
Recommended Citation
Kaczmarek, M. (2025). Financial vs Psychological Wellbeing of Generations X, Y, and Z Consumers in Poland. Journal of Banking and Financial Economics, 2025(1), 95-106. https://doi.org/10.7172/2353-6845.jbfe.2025.1.7
First Page
95
Last Page
106
Page Count
12
Received Date
30.10.2024
Revised Date
06.02.2025
Accept Date
05.03.2025
Online Available Date
15.05.2025
DOI
10.7172/2353-6845.jbfe.2025.1.7
JEL Code
D12; D14
Publisher
University of Warsaw
