The Moderating Effect of Generalized Anxiety and Financial Knowledge on Financial Management Behavior

  • John E. Grable
  • Kristy L. ArchuletaEmail author
  • Megan R. Ford
  • Michelle Kruger
  • Jerry Gale
  • Joseph Goetz
Original Paper


When financial and mental health issues intersect, the study and practice of financial therapy is warranted. The purpose of this study was to determine the extent to which the following two psychosocial constructs—financial knowledge and generalized anxiety—are associated with and related to risky financial management behavior. Research findings from a sample of 110 clients who sought services at an integrated service clinic suggest that anxiety and financial knowledge individually are significantly associated with financial behaviors. In addition, evidence suggests a moderating effect between anxiety and financial knowledge exists. The outcomes associated with this study can be used by not only financial therapists, but also mental health clinicians and financial professionals when developing, presenting, and implementing behaviorally focused treatments, interventions, and counseling recommendations within the professional’s scope of practice.


Anxiety Financial knowledge Financial behavior Financial therapy 



The authors would like to acknowledge and thank the ASPIRE Clinic, its faculty, and its students for data collection and management to make this study possible.


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Copyright information

© Springer Science+Business Media, LLC, part of Springer Nature 2019

Authors and Affiliations

  1. 1.University of GeorgiaAthensUSA
  2. 2.Loras CollegeDubuqueUSA

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