The Role of Financial Fragility and Financial Control for Well-Being
Bibliographic Data
| ID | 2063901 |
|---|---|
| Authors | Piotr Bialowolski (0000-0003-4102-0107, Shine Micro (United States), corresponding author), Dorota Weziak-Bialowolska (0000-0003-2711-2283, Shine Micro (United States)), Eileen Mcneely (0000-0002-4797-9995, Shine Micro (United States)) |
| Year | 2021 |
| Volume | 155 |
| Issue | 3 |
| Pages | 1137-1157 |
| Publication date | 2021-06-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Social Indicators Research (JOURNAL) |
| Journal identifiers | ISSN: 0303-8300 • E-ISSN: 1573-0921 |
| Publisher | Springer Science and Business Media LLC (PUBLISHER) |
| DOI | 10.1007/s11205-021-02627-5 |
| PMID | 33612917 |
| OpenAlex | W3133470211 |
| Language | EN |
| Citations received | 13 |
| References cited | 100 |
Financial fragility is recognized as a substantial issue for individual well-being. Various estimates show that between 46 and 59% of American adults are financially fragile and thus vulnerable in terms of their well-being. We argue that the role of financial control in shaping well-being outcomes-despite being less recognized in the literature than the role of financial fragility-is equally or even more important. Our study is a longitudinal cohort study that made use of observational data. Two waves of the Well-Being Survey data from 1448 U.S. adults were used in the analysis. Impacts of financial fragility and financial control on 17 well-being outcomes were examined, including emotional well-being (nine outcomes), physical well-being (four outcomes), social well-being (two outcomes), in addition to an unhealthy days summary measure and the flourishing index. Financial fragility was shown to be on average less influential for the well-being outcomes than financial control. Our results suggest that financial control plays a protective role for complete well-being. Less evidence in support of a harmful role of financial fragility for well-being is provided. Tests for moderation effects revealed no interaction between financial control and financial fragility within our sample, indicating that financial control did not modify the relationship between financial fragility and well-being
Control (management · Economics · Financial crisis · Financial fragility · Flourishing · Fragility · Macroeconomics · Moderation · Well-being · Financial Literacy, Pension, Retirement Analysis · Health disparities and outcomes · Psychological Well-being and Life Satisfaction · Psychology · Social Psychology · Finance
Financial Development and Health Outcomes
Quantifying post-disaster community well-being
Fintech, Financial Capability and Household Financial Vulnerability
Cross-Cultural Adaptation and Validation of the Multidimensional Subjective Financial Well-Being Scale in Brazilian Adults
Do All Savings Matter Equally? Saving Types and Emotional Well-Being Among Older Adults
Climate change, financial development, and health outcomes in sub Saharan Africa
Role of economic, and social parameters affecting life satisfaction and happiness during pre and post Covid era
A Scoping Review of Income Support Programs Offered to Older Adults Living in South Asian Countries between 2000 and 2021
The effects of sending remittances on the financial capabilities of Zimbabwean migrants in the United Kingdom
Household Financial Vulnerability Before and During the Covid-19 Pandemic
Financial Fragility Across Europe
The role of financial conditions for physical and mental health. Evidence from a longitudinal survey and insurance claims data
Financial Shocks and Financial Well-Being
The relationship between personal unsecured debt and mental and physical health
Does self-control predict financial behavior and financial well-being?
Causal inference and longitudinal data
The Extent and Consequences of P-Hacking in Science
“Positive” Results Increase Down the Hierarchy of the Sciences
The Effects of Perceived and Actual Financial Literacy on Financial Behaviors
On the promotion of human flourishing
Depression, anxiety and somatization in primary care
Financial well-being
Health effects of indebtedness
Financially Fragile Households
Debt and depression
Golden Eggs and Hyperbolic Discounting
Association Between Religious Service Attendance and Lower Suicide Rates Among US Women
Positive Health
Associations of Religious Upbringing With Subsequent Health and Well-Being From Adolescence to Young Adulthood
Negative results are disappearing from most disciplines and countries
Reimagining Health—Flourishing
Outcome-Wide Longitudinal Designs for Causal Inference
Generalized expectancies for internal versus external control of reinforcement.
Well-Being in Life and Well-Being at Work
Lack of Rule-Adherence During Mountain Gorilla Tourism Encounters in Bwindi Impenetrable National Park, Uganda, Places Gorillas at Risk From Human Disease
Locus of control, test anxiety, reactions to frustration, and achievement attitudes1
Over-indebtedness as a marker of socioeconomic status and its association with obesity
Recommendations for increasing the use of HIV/Aids resource allocation models
Indebtedness, Socioeconomic Status, and Self‐Rated Health
The use and abuse of consumer credit
Who feels constrained by high debt burdens? Subjective vs. objective measures of household debt
Debt and distress
Psychological, social and economic determinants of saving
Mental Health Promotion in Public Health
Social Determinants of Health Equity
Job Security, Financial Security and Worker Well‐being
Economic Locus of Control
Debt and Depression
Housing instability and health
The Index of Household Financial Condition, Combining Subjective and Objective Indicators
Antifragile
Positive Psychology Progress
Over the limit
Subjective financial well-being, income and health inequalities in mid and later life in Britain
Religion, Social Networks, and Life Satisfaction
Beyond debt. A moderator analysis of the relationship between perceived financial strain and mental health
Cultures of engagement
The high price of debt
The Hyperbolic Consumption Model
Mortgage Debt, Insecure Home Ownership and Health
On a Need-to-Know Basis
Over-indebted Households in Poland
Life Goals Matter to Happiness
| Unique citing works | 13 |
|---|---|
| Citations per year | 2,6 |
| Citation span | 2021 - 2026 (6) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 13 |