Testing a Conceptual Model of Financial Well-Being

The purpose of this study was to conceptualize and test a measurement of
financial well-being as a function of personal characteristics, objective
attributes, perceived attributes, and evaluated attributes of the financial
domain. 

The dependent variable, financial well-being, was measured using
an adaptation of Cantril's self-anchoring scale.  In the empirical test of the
model, a multiple regression analysis of all the independent variables
produced an R2 of .71, which was a much higher explanatory power than
obtained by previous researchers.

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