Examining Relationships Between Financial Capital And Personal Well-Being

Researchers have traditionally examined economic well-being with income data, yet recent findings indicate positive effects of assets on well-being, independent from income. For this study, baseline data from 904 low-income individuals were used to examine relationships between income, assets, and personal, social, and economic outcomes. Baseline findings indicate that financial assets did not influence perceptions of self-efficacy, economic strain, or social support. However, an individual’s age was associated with perceived outcomes, with increased age leading to decreased support and self-efficacy and increased economic strain. A discussion of findings and implications of this research for community-based strategies is provided. Marcia A. Shobe, Kameri Christy, Leah Hamilton, Yvette Murphy-Erby, George S. Denny & Ashley Givens (2013). "Examining Relationships Between Financial Capital and Personal Well-Being." Journal of Poverty, 17:47–62, 2013. Copyright © Taylor & Francis Group, LLC. DOI: 10.1080/10875549.2012.747999. Version of record available at: http:// www.tandfonline.com/doi/full/10.1080/10875549.2012.747999 Journal of Poverty, 17:47–62, 2013 Copyright © Taylor & Francis Group, LLC ISSN: 1087-5549 print/1540-7608 online DOI: 10.1080/10875549.2012.747999 Examining Relationships Between Financial Capital and Personal Well-Being MARCIA A. SHOBE, KAMERI CHRISTY, LEAH HAMILTON, and YVETTE MURPHY-ERBY School of Social Work, University of Arkansas, Fayetteville, Arkansas, USA