The Role of Financial Fragility and Financial Control for Well-Being

• DOI: 10.1007/s11205-021-02627-5
• Publication Date: 2021-02-18T19:55:54Z
• Authors: Piotr Bialowolski; Dorota Weziak-Bia...; Eileen McNeely
• Keywords: Financial fragility; Moderation; Well-Being; Flourishing

Abstract 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 thus vulnerable in terms their We argue the role financial control shaping well-being outcomes—despite being less literature than fragility—is equally or even more important. Our study longitudinal cohort made use observational data. Two waves Well-Being Survey data from 1448 U.S. were used analysis. Impacts on 17 outcomes examined, including emotional (nine outcomes), physical (four social (two addition to an unhealthy days summary measure flourishing index. was shown be average influential control. results suggest plays protective complete Less evidence support harmful provided. Tests moderation effects revealed no interaction within our sample, indicating did not modify relationship