Examining the Relationship Between Financial Anxiety and Impulsive Spending Behavior among Overseas Filipino Workers in Wisconsin
DOI:
https://doi.org/10.31098/pba.v4i2.4681Keywords:
Financial Anxiety, Impulsive Spending Behavior, Financial Well-Being, Financial Stress, Overseas Filipino WorkersAbstract
This study investigated the relationship between financial anxiety and impulsive spending among Overseas Filipino Workers (OFWs) residing in Wisconsin, United States of America. Specifically, this study looked at the level of financial anxiety as emotional distress related to financial concerns, perceived absence of control over financial resources, and financial worries about future security. The study also examined impulsive spending behavior as the frequency of unplanned purchases, emotional urges to spend, and a lack of deliberation before purchase decisions. The study used a quantitative descriptive-correlational design. Of the 64 OFWs in Wisconsin who participated in this study, all were purposively sampled based on the following criteria: living and working in Wisconsin, at least 18 years of age, 6 months or more of overseas work experience, personal income, and self-financial management. The study used a structured survey questionnaire with a 4-point Likert scale to measure the study’s dependent variables, financial anxiety and impulsive spending behavior. Using descriptive statistics and Pearson and Spearman correlations, the data were analyzed in Google Colab using Python. The results showed that respondents reported high financial anxiety, with worries about future financial security receiving the highest average score. The respondents showed a low level of impulsive spending behavior across all three dimensions. The results of the correlation analysis, which included Pearson r =. 039 (p = . 757) and Spearman rho =. 012 (p = . 925), showed no significant relationship between financial anxiety and impulsive spending behavior. The findings show that financial anxiety and impulsive spending behavior did not significantly correlate in the sample. The study suggests that future research should include a larger sample and variables such as financial literacy, debt burden, remittance pressure, income level, and self-control.
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Copyright (c) 2026 Eric S Parilla, Marc Edward Abadilla
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