Income robustly predicts self-regard emotions.

Area of Science:

• Psychology
• Sociology
• Economics

Background:

• Existing research shows income correlates with life satisfaction but not consistently with emotional well-being.
• The impact of income on specific emotional states remains less understood.

Purpose of the Study:

• To comprehensively examine the relationship between income and various emotional states.
• To investigate whether income influences self-regard emotions, other-regard emotions, and global emotions.

Main Methods:

• Analysis of data from five large-scale surveys across 162 countries.
• Longitudinal analysis predicting emotional states 10 years later, controlling for baseline emotions.
• Mediation analysis to explore the role of sense of control.

Main Results:

• Income reliably predicted increased positive self-regard emotions (e.g., pride) and decreased negative self-regard emotions (e.g., anxiety).
• Relationships between income and other-regard emotions (e.g., gratitude, anger) or global emotions (e.g., happiness) were weaker and less consistent.
• Sense of control mediated the link between income and self-regard emotions.

Conclusions:

• Income significantly impacts how individuals feel about themselves, fostering pride and confidence while reducing anxiety and shame.
• The effect of income on emotions directed towards others or general happiness is less pronounced.
• Financial resources appear to enhance self-perception and emotional regulation related to self-worth.