“Havin’ Money’s Not Everything, Not Havin’ It Is”: The Importance of Financial Satisfaction for Life Satisfaction in Financially Stressed Households

Author: Brenda Spotton Visano

This paper, by Brenda Spotton Visano explores the importance of financial satisfaction for overall life satisfaction in households whose principal source of subjective stress is financial. Using data drawn from 2 waves (2005, 2010) of the nationally representative General Social Survey in Canada, we find that for financially stressed Canadian households, their stress-affected sense of financial well-being overwhelmingly conditions their overall sense of life satisfaction. We consider as well the potential for financial stress to moderate the relationship between income and life satisfaction but find only a modest effect and then only for high income households in 2005. 

Year of book publication: 2020
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