SATISFACTION planet showcase. Every resident of the nation

S. Adil Abbas Rizvi
MAJU Karachi
Teacher: Dr. Tahir Islam
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The purpose of the research study was to identify the satisfaction of life with Financial Stress. It
was 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 low
financial stress would have high life satisfaction”
To investigate this speculations a test of 100 members was chosen from various instructive
foundations of Karachi with the assistance of Purposeful testing system. Among which 50
subjects were males and 50 were females. Half of the example contained people with lower
budgetary pressure and half of the example comprised of members with high financial pressure.
This data was examined through a semi-organized self regulated poll to assemble their own data
and decide financial status from essential pay scale to quantify the worry throughout everyday
life, we used the ” Perceived Stress Scale ” which is developed by ” Cohen Kamareak &
Metmelstein (1983) ”
Keywords: Life Satisfaction, Financial Stress
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Now a days Pakistan is experiencing a monetary emergency on the planet showcase. Every
resident of the nation has been confronting some sociopolitical and monetary issues. There has
been a tremendous increment in the span of joblessness in he a decade ago .The life of a common
man 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 regularly
influence a person's dimension of work profitability and individual connections (Williams,
Haldeman, and Cramer, 1996).The purpose of this research was to examine the relationship
between life satisfaction on financial stress. Stress is an inclination that is made when we respond
to specific occasions. Stress once in a while has a solitary source point, rather stress has been
found to have a wide range of sources. Moreover, in this intricate society stretch impacts a wide
range of everyday issues. Stress can be caused by acute or chronic physical stressors, or by
psychological & social stressors. ” Sapolsky 1994 ” The events that provoke stress are called
stressors, & they cover a whole range. People can experience either external or internal stressors:
• External Stressors includes unfriendly physical conditions, (for example, torment or
sweltering and cool climate ) or upsetting mental condition, (for example, poor working
conditions or oppressive connections.) Human like creatures, can encounter outer
• Internal Stressors can also be physical (diseases, aggravation) or mental. A case of an
inward mental stressor is extraordinary stress over a hurtful occasion that could possibly
happen. To the extent anybody can tell, interior mental stressor is extraordinary are
uncommon 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 to
be addressed with reference to mental serenity & life satisfaction as well. In psychological effects
of stress, studies suggest that the inability to adapt to stress in associated with the onset of
depression or anxiety. Certainly on a more obvious level, stress diminished the quality of life by
reducing 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 one
to 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 of
bliss and the least indications of despondency were their solid connections to loved ones and
promise to investing energy with them ".It could be expounded from this examination that
individuals who keep up dynamic associations with their family and companions are cradled
against the unfavorable wellbeing impacts of perpetual pressure including circumstances, for
example, low pay or lower social class. On the other hand it could likewise recommend that those
individuals who live alone can't examine negative emotions thus soothe their pressure. As
indicated by Diener 2002 "It is vital to chip away at social abilities, close relational ties and
social help with the end goal to be glad and fulfilled
Life 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 a
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judgmental process in which individuals assess the quality of their lives on the basis of their own
set of criteria (Shin & Johnson, 1978). A comparison is made between one ‘ s perceived life
circumstances and a self-imposed standard. The degree of which one ‘ s life circumstances match
up to the standard determines one ‘ s life satisfaction. Life satisfaction is one factor in the more
general construct of subjective well being. Life satisfaction can be assessed specific to a
particular domain of life (e.g., work, family) or globally. Depression and positive emotions and
cheerfulness are the personality traits that most influence life satisfaction. Calsym and Robert et
al. in 1991 investigated that positive effects of social support on life satisfaction and stress has
more of a positive effect on life satisfaction. Patricia et al. in (1983,) depression and positive
emotions 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 subjective
appraisal of their quality of life, their overall happiness or wellbeing ” . This concept is variously
called ” 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. In
all these guises it reflects an attempt to give an overall evaluation of an individual ‘ s position in
life. Stress is a universal phenomenon, which has been discovered about the physiological
responses to stress. This review examines the concept of stress in relation to its effect on
wounding 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, parental
occupation, and social status in the community (such as contacts within the community, group
associations, and the community ‘ s perception of the family),Demarest, Reisner, Anderson,
Humphrey, Farquhar, and stein(1993). Wadsworth , et al. in 2006, examined prospective
associations among poverty-related family stress, coping involuntary stress reactivity, and
psychological 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 is
measured within countries, wealthier people seem to be slightly happier on average but the
effects of money on happiness in general are not large. Dire poverty is more likely to make a
person unhappy than wealth is to make a person happy, although even for poverty the effects are
not overwhelming.. Thos who highly value materialism have been found in a number of studies
to have lower the psychological well-being. Psychological well-being refers to a functional state
that 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 to
a 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) of
psychological well being it interested me to look at how finances can effect life satisfaction of a
Pakistani person. In the past decade the rate of unemployment has raised quite high in Pakistan
hence putting a common man in economic and financial pressures. .In this study it is investigated
to establish that ” 1-There would be a strong relation between financial stress and life satisfaction
2-People with high financial stress would have low life satisfaction and people with low financial
stress would have high life satisfaction ” .
Theoretical Framework:
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The sample of 100 participants was selected from different educational institutes of Karachi with
the help of purposeful sampling technique. Among which 100 subject were male ; 100 were
females. 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 be
screened for the criterion of either having high financial stress or low financial stress. In other
words, the sample comprised of subject who are simply available in a convenient way to the
researcher ; were falling in the category of set criterion. The screened participants were then
randomly assigned to either of the two groups. Although he likelihood of bias was high as for
not using probability technique.
A consent from was prepared with the rational of the study ; the participants right during the
study to follow the ethical codes of APA. Demographic information was investigate through a
self designated demographic sheet to gather their personal information, which included name,
gander, age ; education. To determine the financial stress a functional definition ” The finance
available are not sufficient to meet my needs was rated by participants on 7 point rating scale. To
measure the stress in life, we used the ” Perceived stress Scale ” which is developed by ” Cohen
Kamarek ; Metmelstin (1983) ” & to measure the satisfaction in life, Dieners satisfaction with
life scale (1985) was used.
In this research study correlation survey design was used in order to explore how financial stress
is relate to life satisfaction & further investigate the difference in level of life satisfaction of
people with & without financial stress. This method was selected because it is very quick &
The initial step was to get the consent forms read & signed by the participants. The date & time
was selected according to the convenience of the participants. The next step was to collect their
demographic details including their name, age, gender, residential area, academic qualification
etc. The consent forms were signed by the participants as per the ethical principals & they were
given the chioce to withdraw any time during the study demographic sheet which included the
personal data was completed by the participants. After screening them from higher & lower
socioo-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 statistcial
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In this study we measured the life satisfaction & financial stress as an environment factor, In our
result we measure the correlation between the Stress & Life satisfaction & also t-Test among
both variables.
Table-1: Showing relation between Financial Stress & Life Satisfaction.
Constions N 'df Correlation Result
Life Satisfaction
100 96 -0.118* P 0.05
Stress High
Financial Stress
The result reveal that there is no significant difference between the low stress & high financial
group. Hence the 2 nd
hypothesis is reject.
In present research, current investigation has been regarding the accociation between life
satisfaction linking to Financial stress as an environmental factor it is articulation the manner in
which the money value life satisfaction, operationlized as strong well-being. The was a negative
correlation between life satisfaction & the financial stress (r=0.118), according to this the first
hypothesis seems confirmed although the prevalent relation between the two variables is quite
weak. It appreas quite clear from the results that there is a connection of money with life
satisfaction. 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 personal
financial 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”
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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 a
person. 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 positive
elements in their life other then money which could enhance the level of life satisfaction.
The present research has several limitations. First we used only few items to measure the global
concept of life satisfaction. The order factore discussed in the literature review could also have
influenced the participants responses for e.g social network ets. Second our archival data set did
not 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 wether
collection the measure at different time periods, such as measuring life satisfaction later in time
than perceived stress, would affect the pattern of result.
Financial status cannot release the stress, for life satisfaction, other things are more important
than 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.
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