A brighter future: The effect of social class on responses to future debt
Author(s) / Creator(s)
Schmitt, Harrison J.
Keefer, Lucas A.
Sullivan, Daniel
Stewart, Sheridan
Young, Isaac F.
Abstract / Description
The present study serves as an exploratory investigation of the role of social class in responses to the threat of future debt. Previous work has shown that individuals of high and low subjective social class differ in the ways that they respond to a broad range of threats and uncertainties about the future. Across three studies, we found that lower social class individuals expect more future debt and suffer greater attendant stress than higher class individuals (Study 1). We found that experimental manipulations of debt salience increased stress for lower class and not for higher class individuals (Studies 2-3). Likewise, we found that higher class individuals experienced higher affect balance and perceptions of personal control when the possibility of future debt was made salient, specifically as a function of decreased fatalism about future debt (Study 3). These three studies reveal yet another situation in which individuals of lower and higher social class respond differently to threat, and serve as an important step toward understanding the psychological ramifications of rising debt in the United States.
Keyword(s)
debt social class stress control subjective wellbeing threatPersistent Identifier
Date of first publication
2020-02-28
Journal title
Journal of Social and Political Psychology
Volume
8
Issue
1
Page numbers
78–107
Publisher
PsychOpen GOLD
Publication status
publishedVersion
Review status
peerReviewed
Is version of
Citation
Schmitt, H. J., Keefer, L. A., Sullivan, D., Stewart, S., & Young, I. F. (2020). A brighter future: The effect of social class on responses to future debt. Journal of Social and Political Psychology, 8(1), 78-107. https://doi.org/10.5964/jspp.v8i1.1195
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Author(s) / Creator(s)Schmitt, Harrison J.
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Author(s) / Creator(s)Keefer, Lucas A.
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Author(s) / Creator(s)Sullivan, Daniel
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Author(s) / Creator(s)Stewart, Sheridan
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Author(s) / Creator(s)Young, Isaac F.
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PsychArchives acquisition timestamp2022-04-14T11:23:35Z
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Made available on2022-04-14T11:23:35Z
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Date of first publication2020-02-28
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Abstract / DescriptionThe present study serves as an exploratory investigation of the role of social class in responses to the threat of future debt. Previous work has shown that individuals of high and low subjective social class differ in the ways that they respond to a broad range of threats and uncertainties about the future. Across three studies, we found that lower social class individuals expect more future debt and suffer greater attendant stress than higher class individuals (Study 1). We found that experimental manipulations of debt salience increased stress for lower class and not for higher class individuals (Studies 2-3). Likewise, we found that higher class individuals experienced higher affect balance and perceptions of personal control when the possibility of future debt was made salient, specifically as a function of decreased fatalism about future debt (Study 3). These three studies reveal yet another situation in which individuals of lower and higher social class respond differently to threat, and serve as an important step toward understanding the psychological ramifications of rising debt in the United States.en_US
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Publication statuspublishedVersion
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Review statuspeerReviewed
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CitationSchmitt, H. J., Keefer, L. A., Sullivan, D., Stewart, S., & Young, I. F. (2020). A brighter future: The effect of social class on responses to future debt. Journal of Social and Political Psychology, 8(1), 78-107. https://doi.org/10.5964/jspp.v8i1.1195en_US
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ISSN2195-3325
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Persistent Identifierhttps://hdl.handle.net/20.500.12034/5620
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Persistent Identifierhttps://doi.org/10.23668/psycharchives.6224
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Language of contenteng
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PublisherPsychOpen GOLD
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Is version ofhttps://doi.org/10.5964/jspp.v8i1.1195
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Is related tohttps://doi.org/10.23668/psycharchives.2728
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Keyword(s)debten_US
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Keyword(s)social classen_US
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Keyword(s)stressen_US
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Keyword(s)controlen_US
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Keyword(s)subjective wellbeingen_US
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Keyword(s)threaten_US
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Dewey Decimal Classification number(s)150
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TitleA brighter future: The effect of social class on responses to future debten_US
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DRO typearticle
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Issue1
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Journal titleJournal of Social and Political Psychology
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Page numbers78–107
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Volume8
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Visible tag(s)Version of Recorden_US