SATISFACTION planet showcase. Every resident of the nation


Tahir Islam S. Adil Abbas Rizvi FA17-MSMG-0054 Page 1SATISFACTION OF LIFE WITH FINANCIAL STRESS ABSTRACTThe purpose of the research study was to identify the satisfaction of life with Financial Stress. Itwas assumed that “There would be a strong relation between financial stress & life satisfaction”other “People with high financial stress would have low life satisfaction & people with lowfinancial stress would have high life satisfaction” To investigate this speculations a test of 100 members was chosen from various instructivefoundations of Karachi with the assistance of Purposeful testing system. Among which 50subjects were males and 50 were females. Half of the example contained people with lowerbudgetary pressure and half of the example comprised of members with high financial pressure.

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This data was examined through a semi-organized self regulated poll to assemble their own dataand decide financial status from essential pay scale to quantify the worry throughout everydaylife, we used the ” Perceived Stress Scale ” which is developed by ” Cohen Kamareak &Metmelstein (1983) “Keywords: Life Satisfaction, Financial StressINTRODUCTION:S. Adil Abbas Rizvi FA17-MSMG-0054 Page 2SATISFACTION OF LIFE WITH FINANCIAL STRESS Now a days Pakistan is experiencing a monetary emergency on the planet showcase. Everyresident of the nation has been confronting some sociopolitical and monetary issues.

There hasbeen a tremendous increment in the span of joblessness in he a decade ago .The life of a commonman has turned out to be troublesome as well as there a ton of political and lack of self-confidence throughout their life. This situation is expanding financial pressure on common man. Financial issues regularlyinfluence a person's dimension of work profitability and individual connections (Williams,Haldeman, and Cramer, 1996).The purpose of this research was to examine the relationshipbetween life satisfaction on financial stress.

Stress is an inclination that is made when we respondto specific occasions. Stress once in a while has a solitary source point, rather stress has beenfound to have a wide range of sources. Moreover, in this intricate society stretch impacts a widerange of everyday issues. Stress can be caused by acute or chronic physical stressors, or bypsychological & social stressors. ” Sapolsky 1994 ” The events that provoke stress are calledstressors, & they cover a whole range. People can experience either external or internal stressors:• External Stressors includes unfriendly physical conditions, (for example, torment orsweltering and cool climate ) or upsetting mental condition, (for example, poor workingconditions or oppressive connections.) Human like creatures, can encounter outerstressors.• Internal Stressors can also be physical (diseases, aggravation) or mental.

A case of aninward mental stressor is extraordinary stress over a hurtful occasion that could possiblyhappen. To the extent anybody can tell, interior mental stressor is extraordinary areuncommon or missing in many creatures with the exception of human.Other then these factor there are lot of psychological impacts of financial stressors which need tobe addressed with reference to mental serenity & life satisfaction as well. In psychological effectsof stress, studies suggest that the inability to adapt to stress in associated with the onset ofdepression or anxiety. Certainly on a more obvious level, stress diminished the quality of life byreducing feelings of pleasure & accomplishment & relationship are often threatened.In the Lack of social network or absence of set up system of family and companions inclines oneto push issue and stress-related medical issues, including heart diseases and infections. In 2002,Diener directed an investigation at the University of Illinois with Martin Seligman, finding that"the most remarkable attributes shared by the 10% of understudies with the largest amounts ofbliss and the least indications of despondency were their solid connections to loved ones andpromise to investing energy with them ".It could be expounded from this examination thatindividuals who keep up dynamic associations with their family and companions are cradledagainst the unfavorable wellbeing impacts of perpetual pressure including circumstances, forexample, low pay or lower social class.

On the other hand it could likewise recommend that thoseindividuals who live alone can't examine negative emotions thus soothe their pressure. Asindicated by Diener 2002 "It is vital to chip away at social abilities, close relational ties andsocial help with the end goal to be glad and fulfilledLife satisfaction is one of the most popular psychological well-being measures of quality of life.Other measures include morale, happiness, and subjective well-being. Life satisfaction refers to aS. Adil Abbas Rizvi FA17-MSMG-0054 Page 3SATISFACTION OF LIFE WITH FINANCIAL STRESS judgmental process in which individuals assess the quality of their lives on the basis of their ownset of criteria (Shin & Johnson, 1978). A comparison is made between one ‘ s perceived lifecircumstances and a self-imposed standard.

The degree of which one ‘ s life circumstances matchup to the standard determines one ‘ s life satisfaction. Life satisfaction is one factor in the moregeneral construct of subjective well being. Life satisfaction can be assessed specific to aparticular domain of life (e.g., work, family) or globally. Depression and positive emotions andcheerfulness are the personality traits that most influence life satisfaction. Calsym and Robert etal.

in 1991 investigated that positive effects of social support on life satisfaction and stress hasmore of a positive effect on life satisfaction. Patricia et al. in (1983,) depression and positiveemotions and cheerfulness are the personality traits that most influence life satisfaction.According to a Report of Melbourne Institute by M.D.R Evans and Johathan Kelley in 2002,” this report examines influences of family and neighborhood factors on people ‘ s subjectiveappraisal of their quality of life, their overall happiness or wellbeing ” . This concept is variouslycalled ” happiness ” in philosophy, ” welfare ” or ” utility ” in economics, ” life-satisfaction ” or” subjective well-being ” in sociology and psychology, and ” quality of life ” in many disciplines. Inall these guises it reflects an attempt to give an overall evaluation of an individual ‘ s position inlife.

Stress is a universal phenomenon, which has been discovered about the physiologicalresponses to stress. This review examines the concept of stress in relation to its effect onwounding healing ” .In this study we focused the financial stress in life satisfaction as environmental factors of stress.A family ‘ s financial status is based on family income, parental education level, parentaloccupation, and social status in the community (such as contacts within the community, groupassociations, and the community ‘ s perception of the family),Demarest, Reisner, Anderson,Humphrey, Farquhar, and stein(1993). Wadsworth , et al.

in 2006, examined prospectiveassociations among poverty-related family stress, coping involuntary stress reactivity, andpsychological symptoms in a sample of 79 rural, low income adolescents. Carroll and Smith et al.1997, investigated a strong relationship between financial status and depression among middle-aged sister and brother pairs in the Wisconsin Longitudinal Study (WLS). When wealth ismeasured within countries, wealthier people seem to be slightly happier on average but theeffects of money on happiness in general are not large.

Dire poverty is more likely to make aperson unhappy than wealth is to make a person happy, although even for poverty the effects arenot overwhelming.. Thos who highly value materialism have been found in a number of studiesto have lower the psychological well-being. Psychological well-being refers to a functional statethat includes dimensions such as self-acceptance, positive relations with others, personal growth,purpose in life, environmental mastery and autonomy. In contrast, emotional well-being refers toa positive feeling state comprising and effective aspect (happiness) and more cognitive aspects(Life satisfaction) (Bryant & Veroff, 1982; Keyes & Waterman, 2003).With reference to the literature review and getting the inspiration from Diene r’ s theory (2000) ofpsychological well being it interested me to look at how finances can effect life satisfaction of aPakistani person. In the past decade the rate of unemployment has raised quite high in Pakistanhence putting a common man in economic and financial pressures. .

In this study it is investigatedto establish that ” 1-There would be a strong relation between financial stress and life satisfaction2-People with high financial stress would have low life satisfaction and people with low financialstress would have high life satisfaction ” .Theoretical Framework:S. Adil Abbas Rizvi FA17-MSMG-0054 Page 4SATISFACTION OF LIFE WITH FINANCIAL STRESS METHODOLOGY:SAMPLING:The sample of 100 participants was selected from different educational institutes of Karachi withthe help of purposeful sampling technique. Among which 100 subject were male ; 100 werefemales. Both male ; female participants included in the research were working in both private; government sector. Half of the sample comprised of individual from lower finance status ;half of the sample belonged to financial status.

Academic qualification was at least intermediate.The criteria of monthly expenses were more then 10,000 to 15,000. In this study the purposeful sampling technique was used, because participants were needed to bescreened for the criterion of either having high financial stress or low financial stress. In otherwords, the sample comprised of subject who are simply available in a convenient way to theresearcher ; were falling in the category of set criterion. The screened participants were thenrandomly assigned to either of the two groups. Although he likelihood of bias was high as fornot using probability technique.Material:A consent from was prepared with the rational of the study ; the participants right during thestudy to follow the ethical codes of APA. Demographic information was investigate through aself designated demographic sheet to gather their personal information, which included name,gander, age ; education.

To determine the financial stress a functional definition ” The financeavailable are not sufficient to meet my needs was rated by participants on 7 point rating scale. Tomeasure the stress in life, we used the ” Perceived stress Scale ” which is developed by ” CohenKamarek ; Metmelstin (1983) ” & to measure the satisfaction in life, Dieners satisfaction withlife scale (1985) was used.RESEARCH DESIGN: In this research study correlation survey design was used in order to explore how financial stressis relate to life satisfaction & further investigate the difference in level of life satisfaction ofpeople with & without financial stress. This method was selected because it is very quick &efficient.PROCEDURE:The initial step was to get the consent forms read & signed by the participants. The date & timewas selected according to the convenience of the participants. The next step was to collect theirdemographic details including their name, age, gender, residential area, academic qualificationetc.

The consent forms were signed by the participants as per the ethical principals & they weregiven the chioce to withdraw any time during the study demographic sheet which included thepersonal data was completed by the participants. After screening them from higher & lowersocioo-economic status, they were asked to rate themselves on “Perceived Stress Scale” &”Satisfaction with life Scales” correlation Method was applied to interpret the results in statistcialterminology. S. Adil Abbas Rizvi FA17-MSMG-0054 Page 5SATISFACTION OF LIFE WITH FINANCIAL STRESS RESULT:In this study we measured the life satisfaction & financial stress as an environment factor, In ourresult we measure the correlation between the Stress & Life satisfaction & also t-Test amongboth variables.

Table-1: Showing relation between Financial Stress & Life Satisfaction.Constions N 'df Correlation ResultLife Satisfaction 100 96 -0.118* P 0.05Stress High Financial StressThe result reveal that there is no significant difference between the low stress & high financialgroup. Hence the 2 nd hypothesis is reject.DISCUSSION :In present research, current investigation has been regarding the accociation between lifesatisfaction linking to Financial stress as an environmental factor it is articulation the manner inwhich the money value life satisfaction, operationlized as strong well-being. The was a negativecorrelation between life satisfaction & the financial stress (r=0.

118), according to this the firsthypothesis seems confirmed although the prevalent relation between the two variables is quiteweak. It appreas quite clear from the results that there is a connection of money with lifesatisfaction. Financial stress is perceived to be one of the most important sources of psycho-social stress because so many of the basic activities of daily life are accociated with personalfinancial resourses & their management.Money Misery the new science of happiness starts with a simple insight: “We are never satisfied.We always think if we just had a little bit more money, we'd be happier” IMPLICATIONS:S. Adil Abbas Rizvi FA17-MSMG-0054 Page 6SATISFACTION OF LIFE WITH FINANCIAL STRESS The results of this research have several significant implication for individual, employers, &organizations.

The financial stress can be reduced by increasing the social support structure of aperson. The availability of functional support could researcher much of their financial attitudes& behaviors. Many of these financial stresser can be reduced by both increased information &financial skill building experience & drawing the attention of individuals towards more positiveelements in their life other then money which could enhance the level of life satisfaction.LIMITITATIONS & FUTURE RECOMMENDATIONS:The present research has several limitations. First we used only few items to measure the globalconcept of life satisfaction. The order factore discussed in the literature review could also haveinfluenced the participants responses for e.

g social network ets. Second our archival data set didnot include key demographic variables such as marital status, & monthly expenses.All measure in the present study were collected at one time. It would be interesting to see wethercollection the measure at different time periods, such as measuring life satisfaction later in timethan perceived stress, would affect the pattern of result.CONCLUSION:Financial status cannot release the stress, for life satisfaction, other things are more importantthan money, like Love , inner peace & relation, theses things are necessary for individuals lives.Hence it is not proved that people with strong life satisfaction would have strong fianncial status& less stress & people with low life satisfaction would have low financial status & more stress.

S. Adil Abbas Rizvi FA17-MSMG-0054 Page 7


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