For Whom Can Money Buy Subjective Well-Being? The Role of Face Consciousness

Abstract

The purpose of the current study was to more fully investigate the association between money and Subjective Well-Being (SWB) by treating face consciousness as a moderator variable and financial satisfaction as a mediator variable. We examined a sample of college students and found the effect of money on SWB is contingent on subjects' face consciousness, and further this moderation is completely mediated by financial satisfaction. These results indicated that people high in face consciousness may derive a higher level of financial satisfaction and then SWB out of money than those low in face consciousness, although face consciousness itself hurts SWB. Our findings were consistent with the view that the effect of money on SWB depends on different types of people and supported the value-as-a-moderator theory in SWB. The implications of these findings are discussed.