Religion's influence on the financial well-being of consumers: A conceptual framework and research agenda

Samer Sarofim, Elizabeth Minton, Amabel Hunting, Darrell E. Bartholomew, Saman Zehra, William Montford, Frank Cabano, Pallab Paul

Research output: Contribution to journalArticlepeer-review

16 Scopus citations


Religion is an indelible force in society, yet research examining its influence on consumption, particularly in the context of financial well-being is lacking. Thus, this paper presents a conceptual framework of factors influencing, and outcomes associated with, the effects of religion on financial well-being. Specifically, this paper introduces a conceptual framework aimed at understanding how religion influences financial decisions and well-being, both from a consumer and a business perspective. Focus groups were conducted with consumers and financial practitioners to support the development of the conceptual framework. Most novel to this framework is the identification of potential process mechanisms explaining this relationship, including trust, affect, risk propensity, and perceived personal control. The framework concludes with potential interventions targeted at consumers and businesses to improve financial well-being. This propositions-based conceptual framework serves as a research agenda to guide and aid scholars, consumer advocacy groups, policymakers, and marketers in promoting greater financial well-being.

Original languageEnglish (US)
Pages (from-to)1028-1061
Number of pages34
JournalJournal of Consumer Affairs
Issue number3
StatePublished - Sep 1 2020

All Science Journal Classification (ASJC) codes

  • Sociology and Political Science
  • Economics, Econometrics and Finance(all)


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