Perceived Financial Needs, Income Sources, and Subjective Financial Well-Being in an Emerging Market

No Thumbnail Available

Date

2019

Journal Title

Journal ISSN

Volume Title

Publisher

Springer Publishing Co

Open Access Color

OpenAIRE Downloads

OpenAIRE Views

Research Projects

Organizational Units

Journal Issue

Abstract

This study investigates perceived financial needs and subjective financial well-being using data from a national survey of 2,567 households in Turkey. Financial needs are measured by consumer perceived ability to meet current living expenses in the short-term as well as their assessment for the retirement security in the long-term. We also investigate how income sources are related to subjective financial well-being. Findings show that households' daily concerns including the inability to meet short-term expenses including healthcare, daily living expenses (food and utilities), and the inability to maintain the existing living standard are highly significant factors in explaining their subjective financial well-being. We also find that having enough income during retirement and ability to find a job in the future are positively related to subjective financial well-being. Finally, when households ' incomes are from work, rental properties, family, and pension, they feel more financially secure.

Description

Keywords

Emerging market, Financial well-being and assessment, Risk, Survey, Turkey

Turkish CoHE Thesis Center URL

Fields of Science

Citation

5

WoS Q

N/A

Scopus Q

Q3

Source

Volume

30

Issue

2

Start Page

191

End Page

201