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2023 Annual Conference

del 16 al 18 de May del 2023

Palace Station Hotel & Casino, Las Vegas, NV, US

IMPORTANT NOTICE: The date, time, and room assignment of YOUR presentation is SUBJECT TO CHANGE.

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B1c From ‘We’ to ‘Me’: Characteristics Associated with Intraindividual Variability in Financial Well-Being Over Time

martes, el 16 de mayo de 2023 a las 17:15–18:45 PDT
Room 1
Short Description

Prior research demonstrates that financial well-being is relatively stable over time. However, these studies have largely relied on group averages. No work has been done to explore intraindividual variability (i.e., variability in financial well-being for a given individual over time). Using individual coefficients of variation, we examined the intraindividual variability in financial well-being over a nine-month period using longitudinal panel data from 1,263 Australian adults. We found that roughly 10% of people experienced highly stable financial well-being (ICV = 0), while a small percent had high levels (ICV > 40), and the majority had some variation (0 < ICV > 40). Further, we explore individual, intrapersonal, community, and societal factors that may explain the intraindividual variability in financial well-being. The individual and interpersonal factors we considered played a role, while community and societal factors did not. Our results suggest that financial well-being is likely more volatile than previously reported. Such volatility may indicate the descent of one consumer into greater current money management stress and the resilience of another after such a decline. Programs and policies should consider not only factors that promote a higher level of financial well-being but also factors that enable an individual to maintain that level over time.

Type of presentation

Accepted Oral Presentation

Submitter

Jordan Bell, University of Georgia

Authors

Jordan Bell, University of Georgia
Dee Warmath, University of Georgia
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