The Link between Abstract Thinking Style and Subjective Well-Being: Its Impact when People are in (Real or Perceived) Financial Scarcity.

Abstract

Across three studies, we explored the link between an abstract mindset and subjective well-being (SWB) in participants with real and/or perceived financial scarcity. In Studies 1 and 2, samples presented real objective financial vulnerability: Adolescents from lower-middle income districts (Study 1; N = 256), and adults without higher education and with very low incomes (Study 2; N = 210). In Studies 1 and 2 participants completed a survey including measures of thinking style and SWB. In Studies 2 and 3 perception of financial difficulty and SWB were also measured. Study 3 (N = 161) used a sample of university students and employed an experimental design manipulating participants' thinking style (i.e., concrete versus abstract mindset conditions); additionally, all participants were induced to perceive financial scarcity. Correlations revealed a significant and positive relationship between an abstract thinking style and SWB (Studies 1 and 2). Thus, these results showed that a relatively more abstract thinking style was associated with greater life satisfaction. In Studies 2 and 3 mediation analyses indicated that adults who presented a more abstract thinking style, perceived lower financial difficulties and then reported greater SWB. Overall, given that an abstract thinking style can be induced, these results offer a new intervention approach for improving the SWB of people living in situations of financial scarcity.