New evidence on the relationship between income and subjective well-being: the mediating and moderating roles of psychological security.

BACKGROUND

A proper understanding of the relationship between income and subjective well-being is helpful to enhance people's welfare. Research on the relationship between income and subjective well-being has not yet reached a universally recognized conclusion. Particularly, the proposition of the "Easterlin paradox" prompts scholars to explore the role of other factors in the relationship between income and subjective well-being. Grounded in social comparison theory and need theory, this paper examines the role of psychological security in the relationship between income and subjective well-being.

METHODS

Data came from 6,953 Chinese urban residents were included in the study. Data cleaning, coding, and analysis were performed using SPSS. ANOVA and Bootstrap method were used to test the research hypothesis.

RESULTS

There were significant differences in subjective well-being across income levels, with high-income residents having significantly higher life satisfaction and positive affect than low-income residents and significantly lower negative affect than low-income residents. Psychological security mediated the influence of income on life satisfaction, positive and negative affect. Psychological security positively moderated the relationship between income and life satisfaction. There is group heterogeneity in the effects of income and psychological security on SWB in terms of age and education.

CONCLUSIONS

The findings enrich the mediating and moderating role of psychological factors in the relationship between income and subjective well-being. From the perspective of public psychological security, it provides a reference basis for enhancing the public's subjective well-being.