Table 4 FWB model – psychological...

Table 4

FWB model – psychological factors

Sub components	Variables (see Kempson, 2017)	Retired athletes	Ireland*	Australia*	New Zealand*
Time orientation	Three variables related to financial decisions related to the future or the present	77	N/A	60	59
Impulsivity	Three variables related to behaviors around making decisions without much prior thought	80	N/A	66	65
Social status	Three variables related to importance of social status amongst people for the respondent	42	N/A	50	50
Self- control	Three variables related to ability to avoid bad decisions or habits related to spending	74	N/A	58	58
Locus of control	Two variables related to ability to avoid perceived ability to plan financially for future success	86	67	60	61
Attitude towards money	Four variables about attitude towards spending versus saving	77	48	69	68
Overall Psychological Score (weighted average)		73	58**	61	60

Sub components	Variables (see Kempson, 2017)	Retired athletes	Ireland*	Australia*	New Zealand*
Time orientation	Three variables related to financial decisions related to the future or the present	77	N/A	60	59
Impulsivity	Three variables related to behaviors around making decisions without much prior thought	80	N/A	66	65
Social status	Three variables related to importance of social status amongst people for the respondent	42	N/A	50	50
Self- control	Three variables related to ability to avoid bad decisions or habits related to spending	74	N/A	58	58
Locus of control	Two variables related to ability to avoid perceived ability to plan financially for future success	86	67	60	61
Attitude towards money	Four variables about attitude towards spending versus saving	77	48	69	68
Overall Psychological Score(weighted average)		73	58**	61	60

Note(s): *Weighted PCA Scores; Ireland (Kempson and Poppe, 2018) and Australia and New Zealand (ANZ Banking Group Ltd, 2018). Used for comparison purposes. **Weighted PCA Score from available data

Source(s): Created by the authors

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