The relationship of self-efficacy and money attitudes with mental health: mediation through Maslow's hierarchy of needs

Although it has been reflected in the literature that the satisfaction of psychological and physical needs, self-efficacy and money attitudes relate to mental health, it has not been studied whether the self-efficacy and money attitude can affect mental health through satisfaction of needs. The present study was conducted to investigate the mediating effect of Maslow's hierarchy of needs on the relationship of self-efficacy and money attitudes with mental health. This study was a survey with a correlational research design. A total of 296 participants were randomly selected through cluster sampling. The sample was administered the research instruments and the data were analyzed through correlation tests and structural equation modeling. The results revealed that self-efficacy and money attitudes were related to mental health through needs satisfaction. The individuals with higher self-efficacy and lower worry about money were found to be able to properly satisfy their needs. It was concluded that if the individuals’ needs are satisfied in a suitable time and place, their mental health will improve.