Debt, Religious Beliefs, and Life Satisfaction

TitleDebt, Religious Beliefs, and Life Satisfaction
Publication TypeJournal Article
Year of Publication2019
AuthorsAmmerman, DD, Stueve, C, Hayward, S
JournalJournal of Financial Therapy
Type of ArticleJournal
ISSN Number 1944-9771
Keywordscomplex data analysis, debt; religiosity, Life Satisfaction

The purpose of this study was to explore religious factors as a resource for coping with indebtedness. Using a sample (n = 3,174) extracted from the Health and Retirement Study (HRS), we examined the relationship between household debt and life satisfaction, and tested for stress-buffering (i.e., moderation) from religious identification, religious beliefs, and prayer frequency. Results suggest that some religious factors may play a small role in moderating the relationship between indebtedness and life satisfaction, and that such moderation is itself dependent on one’s religious identification. Implications for practice (particularly faith-based providers of financial counseling) and recommendations for future research are discussed.

Citation Key10622