Research on the Relationship Between Financial Behavior, Financial Well-Being, and Sustainable Consumption: Multidimensional Analysis

Assistant Professor Dr. Šejma Aydin is actively implementing a project titled "Research on the Relationship Between Financial Behavior, Financial Well-Being, and Sustainable Consumption: Multidimensional Analysis," funded by the Ministry of Science, Higher Education and Youth of the Sarajevo Canton for 2023.

The project aims to explore the intricate correlation among financial behavior, financial well-being, and sustainable consumption in Sarajevo Canton. It focuses on how individual financial actions and well-being may influence sustainable consumption practices. The analysis includes diverse aspects of financial behavior, such as savings habits, borrowing, investment, and budget planning, alongside assessing levels of financial well-being. The goal is to understand their impact on sustainable consumption forms like energy-efficient purchases, minimalistic lifestyles, and waste reduction.

The study's outcomes are twofold. Firstly, it will provide insights into the determinants shaping financial behavior and well-being among Sarajevo Canton residents. Secondly, it aims to identify elements fostering sustainable consumption within the local community. Utilizing quantitative analysis methods, the research involves surveying citizens for data collection. A proficient team of finance and sustainability researchers oversees research activities, data analysis, and result interpretation.

Anticipated impacts include an enhanced understanding of the interconnections between financial behavior, financial well-being, and sustainable consumption in Sarajevo Canton. The findings could serve as the basis for policies supporting sustainable financial behavior and consumption, contributing to socio-economic advancement and community sustainability. Additionally, the project has the potential to empower citizens with guidance and recommendations for informed financial choices and cultivating sustainable consumption habits.