The Effects of Perceived Locus of Control and Perceived Income Adequacy on Satisfaction with Financial Status of Rural Households Ujang Sumarwan Bogor Agricultural University Tahira K. Hira Iowa State University ABSTRACT: The purpose of this study is to examine the relationships among se- lected socioeconomic variables—perceived locus of control, perceived income adequacy, and satisfaction with financial status. Results of the study indicate that age, household income, household net worth, perceived locus of control, and perceived income ade- quacy are significantly related to satisfaction with financial status. Household income and household net worth have indirect effects on satisfaction through perceived locus of control and perceived income adequacy. Perceived locus of control also has an indirect effect on satisfaction through perceived income adequacy. These findings suggest that counselors and educators should emphasize the importance of perceptions of income adequacy and control over financial aspect in their courses and programs. KEY WORDS: perceived income adequacy, perceived locus of control, satisfaction with financial status, socioeconomic variables. Introduction Katona (1975) suggested that psychological concepts such as per- ception, attitude, value, optimism, pessimism, and satisfaction are Journal Paper No. J-14499 of the Iowa Agriculture and Home Economics Experiment Station, Ames, Iowa. Project No. 2809. Ujang Sumarwan is Lecturer in the Department of Community Nutrition and Family Resources, College of Agriculture, Bogor Agricultural University, Bogor, Indonesia. His research interests include consumer credit and family resource management. He received his Ph.D. from Iowa State University in 1993. Tahira K. Hira is Professor in the Department of Human Development and Family Studies, 1086 LeBaron Hall, Iowa State University, Ames, Iowa 50011-1120. Her research interests include family financial management and consumer bankruptcy. She received her Ph.D. from the University of Missouri. Journal of Family and Economic Issues, Vol. 14(4), Winter 1993 © 1993 Human Sciences Press, Inc. 343