How your bank balance buys happiness: The importance of “cash on hand” to life satisfaction.

Could liquid wealth, or “cash on hand”—the balance of one’s checking and savings accounts—be a better predictor of life satisfaction than income? In a field study using 585 U.K. bank customers, we paired individual Satisfaction With Life Scale responses with anonymized account data held by the bank, including the full account balances for each respondent. Individuals with higher liquid wealth were found to have more positive perceptions of their financial well-being, which, in turn, predicted higher life satisfaction, suggesting that liquid wealth is indirectly associated with life satisfaction. This effect persisted after accounting for multiple controls, including investments, total spending, and indebtedness (which predicted financial well-being) and demographics (which predicted life satisfaction). Our results suggest that having readily accessible sources of cash is of unique importance to life satisfaction, above and beyond raw earnings, investments, or indebtedness. Therefore, to improve the well-being of citizens, policymakers should focus not just on boosting incomes but also on increasing people’s immediate access to money.This research is based on work supported by the National Science Foundation Graduate Research Fellowship Program (Grant 1326120)

How your bank balance buys happiness: The importance of “cash on hand” to life satisfaction

Could liquid wealth, or “cash on hand”—the balance of one’s checking and savings accounts—be a better predictor of life satisfaction than income? In a field study using 585 U.K. bank customers, we paired individual Satisfaction With Life Scale responses with anonymized account data held by the bank, including the full account balances for each respondent. Individuals with higher liquid wealth were found to have more positive perceptions of their financial well-being, which, in turn, predicted higher life satisfaction, suggesting that liquid wealth is indirectly associated with life satisfaction. This effect persisted after accounting for multiple controls, including investments, total spending, and indebtedness (which predicted financial well-being) and demographics (which predicted life satisfaction). Our results suggest that having readily accessible sources of cash is of unique importance to life satisfaction, above and beyond raw earnings, investments, or indebtedness. Therefore, to improve the well-being of citizens, policymakers should focus not just on boosting incomes but also on increasing people’s immediate access to money.This research is based on work supported by the National Science Foundation Graduate Research Fellowship Program (Grant 1326120)

An upward spiral between gratitude and humility

In two experiments and one diary study, we examined the relationship between self- and other-oriented processes by considering how gratitude can influence humility and vice versa. Humility is characterized by low self-focus, secure sense of self, and increased valuation of others. Gratitude is marked by a sense that one has benefited from the actions of another. In the first experiment, participants who wrote a gratitude letter showed higher state humility than those who performed a neutral activity. In the second experiment, baseline state humility predicted the amount of gratitude felt after writing a gratitude letter compared to a neutral activity. Finally, in a 14-day diary study, humility and gratitude mutually predicted one another, even after controlling for the other’s prior level. Our results suggest that humility and gratitude are mutually reinforcing. </jats:p

The relationship between physician humility, physician–patient communication, and patient health

ObjectiveCultural portrayals of physicians suggest an unclear and even contradictory role for humility in the physician-patient relationship. Despite the social importance of humility, however, little empirical research has linked humility in physicians with patient outcomes or the characteristics of the doctor-patient visit. The present study investigated the relationship between physician humility, physician-patient communication, and patients' perceptions of their health during a planned medical visit.MethodsPrimary care physician-patient interactions (297 patients across 100 physicians) were rated for the physician's humility and the effectiveness of the physician-patient communication. Additionally, patients reported their overall health and physicians and patients reported their satisfaction with the interaction.ResultsWithin-physician fluctuations in physician humility and self-reported patient health positively predicted one another, and mean-level differences in physician humility predicted effective physician-patient communication, even when controlling for the patient's and physician's satisfaction with the visit and the physician's frustration with the patient.ConclusionsThe results suggest that humble, rather than paternalistic or arrogant, physicians are most effective at working with their patients.Practice implicationsInterventions to improve physician humility may promote better communication between health care providers and patients, and, in turn, better patient outcomes

How your bank balance buys happiness: The importance of "cash on hand" to life satisfaction.

Could liquid wealth, or "cash on hand"-the balance of one's checking and savings accounts-be a better predictor of life satisfaction than income? In a field study using 585 U.K. bank customers, we paired individual Satisfaction With Life Scale responses with anonymized account data held by the bank, including the full account balances for each respondent. Individuals with higher liquid wealth were found to have more positive perceptions of their financial well-being, which, in turn, predicted higher life satisfaction, suggesting that liquid wealth is indirectly associated with life satisfaction. This effect persisted after accounting for multiple controls, including investments, total spending, and indebtedness (which predicted financial well-being) and demographics (which predicted life satisfaction). Our results suggest that having readily accessible sources of cash is of unique importance to life satisfaction, above and beyond raw earnings, investments, or indebtedness. Therefore, to improve the well-being of citizens, policymakers should focus not just on boosting incomes but also on increasing people's immediate access to money. (PsycINFO Database Recor

SAGES Manuscript: Lower SES Ph.D. Students Experience Interpersonal Disconnection from Others Both Inside and Outside of Academia

Abstract: Students from lower socioeconomic status (SES) backgrounds can experience stigma in undergraduate educational settings but little research on this topic has been conducted at the Ph.D. level, which is important for promoting a diverse generation of highly skilled researchers and educators. Lower-SES students may feel a diminished sense of social integration (i.e., feeling more isolated, a lower sense of belonging, and less social support) in doctoral education in part because they experience interpersonal disconnection—a lack of understanding and alienation from both peers inside academia and close family and friends outside of academia. This interpersonal disconnection may be a mechanism by which lower-SES leads to lower levels of social integration in academic settings. In this prospective study of first-year Ph.D. students at three North American universities (N = 608), we assessed students’ perceived levels of social integration and their interpersonal perceptions inside and outside of academia 2-8 times throughout their first year of graduate school. Relative to students from higher-SES backgrounds, lower-SES students perceived lower levels of social integration during their first year. Students lower in SES had difficulty making academic friends, felt highly dissimilar to their academic peers, and perceived a lack of understanding about their work in graduate school from close non-academic family and friends. They also reported a significant loss of non-academic social ties. These interpersonal disconnections prospectively mediated the association between lower SES and lower levels of perceived social integration. Overall, results suggest that lower SES students are at risk of impaired interpersonal relationships during doctoral education. Institutional policies to promote social connections among Ph.D. students may therefore help lower-SES students integrate more effectively into academia. Keywords: socioeconomic status, interpersonal disconnection, stigma, Ph.D. student

Does variety in hedonic spending improve happiness? Testing alternative causal mechanisms between hedonic variety and subjective well-being

Abstract Previous research has found only a small, inconsistent association between hedonic consumption and subjective well-being, often attributed to individuals adapting to the happiness gains from their purchases. Given that diverse experiences can reduce or avert hedonic adaptation, we hypothesized that variety in hedonic spending would be associated with greater well-being. This hypothesis was tested in four studies (total N = 2,920), using both self-reported and objective bank-reported spending data. In our correlational analyses, hedonic spending variety was uniquely associated with well-being, even after controlling for total hedonic spending and other financial variables. Our investigation also explored the directional relationship between hedonic spending variety and well-being, yielding mixed results for both causal pathways in two time-lagged panel studies. Additionally, in two parallel experiments, participants reported that varied hedonic spending contributed more to happiness than uniform hedonic spending. These findings have implications for basic well-being science by testing how varied consumption behaviors and well-being are interrelated

The relationship between physician humility, physician-patient communication, and patient health.

ObjectiveCultural portrayals of physicians suggest an unclear and even contradictory role for humility in the physician-patient relationship. Despite the social importance of humility, however, little empirical research has linked humility in physicians with patient outcomes or the characteristics of the doctor-patient visit. The present study investigated the relationship between physician humility, physician-patient communication, and patients' perceptions of their health during a planned medical visit.MethodsPrimary care physician-patient interactions (297 patients across 100 physicians) were rated for the physician's humility and the effectiveness of the physician-patient communication. Additionally, patients reported their overall health and physicians and patients reported their satisfaction with the interaction.ResultsWithin-physician fluctuations in physician humility and self-reported patient health positively predicted one another, and mean-level differences in physician humility predicted effective physician-patient communication, even when controlling for the patient's and physician's satisfaction with the visit and the physician's frustration with the patient.ConclusionsThe results suggest that humble, rather than paternalistic or arrogant, physicians are most effective at working with their patients.Practice implicationsInterventions to improve physician humility may promote better communication between health care providers and patients, and, in turn, better patient outcomes