Testing a model of financial well-being

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dc.contributor.authorPorter, Nancy M.en
dc.contributor.committeecochairGarman, E. Thomasen
dc.contributor.committeememberLittlefield, James E.en
dc.contributor.committeememberLytton, Ruth H.en
dc.contributor.committeememberScott, Elaine D.en
dc.contributor.committeememberWolfe, Lee M.en
dc.contributor.departmentHousing, Interior Design, and Resource Managementen
dc.date.accessioned2014-03-14T21:21:18Zen
dc.date.adate2005-10-14en
dc.date.available2014-03-14T21:21:18Zen
dc.date.issued1990en
dc.date.rdate2005-10-14en
dc.date.sdate2005-10-14en
dc.description.abstractThis study was designed to empirically test a conceptual model and measurement of financial well-being as a function of (a) personal characteristics; (b) objective attributes, quantitative indicators of the financial domain and financial management behaviors of respondents; (c) perceived attributes, subjectively assessed life conditions and perceptions of financial situation; and (d) evaluations of financial situation using various reference points as standards of comparison. Two sub-problems were investigated in the study: (a) Which group of attributes, personal characteristics, objective attributes, perceived attributes, or evaluated attributes, significantly explains variance in perceived financial well-being?; and (b) Which individual attributes significantly explain variance in perceived financial well-being? A mail survey was conducted from October of 1989 through January of 1990 with a randomly selected sample of Virginia citizens (N = 1,500). After an initial mailing and two follow-up mailings, 529 questionnaires were returned of the 1,450 that were received by respondents, providing a 36.5% total return rate (529/1,450). Twenty-three questionnaires were blank or unusable, yielding a useable return rate of 34.9% (506/1,450). Demographic characteristics of the sample were similar to those of the population of Virginia citizens. Financial well-being, as measured by an adaptation of Cantril's (1965) 11-point self-anchoring striving scale, was the dependent variable. All of the independent variables regressed on the dependent variable produced an R 2 of .71, which was statistically significant (p < .01). Removing each group of attributes individually from the regression equation resulted in a significant (p < .01) decrease in the resulting adjusted R2s as computed by F ratios. All attribute groups were determined to be essential to the measurement of financial wellbeing. Individual variables with a significant t ratio (p < .05) were the Perceived Attribute Index, Index of Well-Being, and full-time employment status. The results of the study supported the conceptual model. Results clearly verified the measurement of financial well-being as a function of personal characteristics, objective attributes, perceived attributes, and evaluated attributes.en
dc.description.degreePh. D.en
dc.format.extentxiv, 214 leavesen
dc.format.mediumBTDen
dc.format.mimetypeapplication/pdfen
dc.identifier.otheretd-10142005-135742en
dc.identifier.sourceurlhttp://scholar.lib.vt.edu/theses/available/etd-10142005-135742/en
dc.identifier.urihttp://hdl.handle.net/10919/39899en
dc.language.isoenen
dc.publisherVirginia Techen
dc.relation.haspartLD5655.V856_1990.P678.pdfen
dc.relation.isformatofOCLC# 23167217en
dc.rightsIn Copyrighten
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/en
dc.subject.lccLD5655.V856 1990.P678en
dc.subject.lcshFinance, Personal -- Public opinionen
dc.subject.lcshFinancial security -- Public opinionen
dc.titleTesting a model of financial well-beingen
dc.typeDissertationen
dc.type.dcmitypeTexten
thesis.degree.disciplineHousing, Interior Design, and Resource Managementen
thesis.degree.grantorVirginia Polytechnic Institute and State Universityen
thesis.degree.leveldoctoralen
thesis.degree.namePh. D.en

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