Income and Mental Well-Being : Personality Traits as Moderators

Using data from the participants of the Jyväskylä Longitudinal Study of Personality and Social Development (JYLS) at ages 42 and 50 (N = 326), this study provides empirical evidence of the relation between income and mental well-being and of the possible role of personality traits in modifying this relation. The relationships were analyzed using pooled ordinary least squares (OLS; bi- and multivariate settings) and fixed effects estimations (FE; multivariate settings). Positive bivariate associations were found between gross monthly income and the sum score of mental well-being and its separate dimensions (emotional, psychological, and social well-being and the absence of depression) as wel…