Money on My Mind: How Does Hardiness Relate to Financial Stress?

The purpose of this study is to examine the role of hardiness in the association between perceived income adequacy (PIA) and financial stress. Hardiness refers to an individual’s ability to find meaning and purpose in stressful events. We utilized a sample of 482 college students who completed questionnaires on hardiness, PIA, financial stress, and various objective financial measures. Relative weights analyses, bivariate correlations, and moderated regression indicated support for our hypotheses that PIA is negatively related to financial stress, hardiness is positively related to PIA, and hardiness moderates the PIA and financial stress relationship. Our study highlights the importance of the financial stress process and the role of hardiness. Future directions and practical and theoretical implications are discussed.