Porter 1993

Porter, N. M. & Garman, E. T. (1993).
Testing
a conceptual model of financial well-being. Financial Counseling
and
Planning,
4, 135-164.




Testing a Conceptual
Model of Financial Well-Being

Nancy M. Porter1
and E. Thomas Garman2


The purpose of this study
was to conceptualize and test a measurement of financial well-being as
a function of personal characteristics, objective attributes, perceived
attributes, and evaluated attributes of the financial domain. The
dependent
variable, financial well-being, was measured using an adaptation of
Cantril’s
self-anchoring scale. In the empirical test of the model, a multiple
regression
analysis of all the independent variables produced an R2 of .71, which
was a much higher explanatory power than obtained by previous
researchers.



Key Words: Financial well-being, Economic well-being, Financial
satisfaction, Quality of life



Affiliations at the time of publication:

1. Nancy M. Porter, Extension Specialist,
Clemson
University, Clemson, SC 29634-0312,  (803) 656-3090. E-mail:
nporter@clemson.edu

2. E. Thomas Garman, Author, Researcher and
Advisor; Fellow and
Professor


Emeritus, Virginia Tech, 8044 Rural Retreat Court, Orlando,
FL 32819,


Phone/Fax: 407-363-9048, E-mail: tgarman@bellsouth.net, Web:


www.EThomasGarman.net.




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