Study Taylor et al. (2009): study GB 1996
- Public
- 16+ aged, United Kingdom, 1996-2000, 2002-2006
- Survey name
- UK-BHPS combined waves
- Sample
- Respondents
- N = 72954
- Non Response
- Assessment
- Interview: face-to-face
Correlate
- Authors's Label
- Financial incapability
- Our Classification
-
-
- Operationalization
- Index constructed from questions about the following variables:
- perceived current financial situation
- reporting that financial situation has worsened since last year
- whether saves
- has housing payment problems
- problems required borrowing
- problems required cutbacks
- been at least two months in housing arrears in last 12 months
A Not income-adjusted
B Income-adjusted
C Number of financial problems adjusted
Observed Relation with Happiness
low life satisfaction associated with higher financial incapability, with Spearman rank
correlation coefficients ranging from -0.169 with number of financial problems to -
0.220 with the income-unadjusted index. Furthermore, the average level of financial
incapability falls monotonically as reported life satisfaction increases and this too is
evident with all three incapability measures and across the sample period.
b-fix controlled for:
- hh income
- savings
- good health
- widowed
- divorced/separated
- unemployed
- retired
- inactive
Adjusting for income does not significantly affect b-fix.
When b-fix is adjusted for number of financial problems b-fix=-.12
Gender-specific within-group effects show that the impact of financial incapability on life satisfaction does not differ between men and women.