Specifically, the current study investigates the moderating effect of religious belief on the relationship between income and life satisfaction at the individual and. The study aims to analyze overall life satisfaction (OLS) and the financial Examining the association between income and life satisfaction over the life course. the relation between an individual's income and his or her life-satisfaction, ship between income and life-satisfaction has been tested on cross- sectional data.
In terms of contributions, this study stands out due to: It should be noted that most studies of OLS have been conducted with the elderly Niedzwiedz et al. The importance of this study is directly related to the management of the BFP, because the results presented here can contribute to the adoption of strategies by the federal government that can improve the BFP, especially regarding the way in which beneficiaries receive their money and its impact on OLS and FWB.
Overall Life Satisfaction and Financial Well-Being Studies related to OLS have gained greater notoriety over the past 20 years with the broadening of perspectives in terms of life satisfaction and the insertion of various factors as individual facets of life which can be summed up to determine overall satisfaction Kuppens, Realo and Diener, Based on these concepts, OLS is influenced by various factors and for this reason it should be measured in material aspects as well as psychological ones.
Thus, it is understood that for individuals to be satisfied with life, they need to evaluate their emotional and rational relationships positively and only draw lessons from their negative experiences Diener, ; Kuppens, Realo and Diener, Given these perceptions, the chances of deriving greater satisfaction from life increases.
In cases where this holds true, the individual is happier and develops better social relations, health, infrastructure and leisure Comis and Pinto, In contrast to this, people who are dissatisfied with their conditions are more likely to have low self-esteem, anxiety, fear and frustration Lipovetsky,because this unease is responsible for developing psychosomatic alterations that lead to physical and emotional dysfunction.
Physical problems are related to higher indices of obesity or anorexia, hypertension, headaches, insomnia and low immunity; psychological problems include increased irritability, impatience, apathy, emotional distance, loss of professional enthusiasm and, as a result, financial problems Nunes, Financial difficulties include higher levels of debt and the inability to pay bills and a lack of monetary control, all of which lower FWB.
Thus, good financial prospects for the future as well as good conditions in the present together with monetary security maximize FWB, which offers a better quality of life. This assertion is confirmed by Binder and Coadwho clarify that people with greater financial stability, job security, good financial management and larger monthly income are more satisfied with their lives. Hagerty and Veenhoven reveal that stability, equilibrium and the absence of worries about being late in the payment of bills, maximizes the chances of achieving dreams and meeting needs and desires, thus increasing happiness in the long term.
In contrast, people with murky financial situations, who have greater difficulty making it through the month with their income, and have less control over their spending, may have a lower perception of overall satisfaction Kahana et al. This lower overall life satisfaction is often linked to the availability of financial resources, or in other words, poorer people do not have sufficient resources to pay for investments that would bring greater meaning to their lives, which thus leads to low levels of OLS, with individuals living in extreme poverty being the most vulnerable to feeling dissatisfied with life Meyer and Dunga, On the other hand, increasing income can lead to changes, mainly in OLS, because it offers greater buying power, optimism and financial satisfaction Diener, Tay and Oishi, However, the effects of increasing income are distinct for each social class.
Easterlin and Angelescu point out that individuals with fewer financial resources derive a greater increase in OLS through financial assistance than wealthier classes do. The authors arrived at this argument by verifying the comparative behavior noted in rich and poor countries. According to their findings, residents in wealthier countries were less affected by an increase in income in terms of OLS than people who live in worse situations in poorer countries.
Conversely, in some cases, even an increase in salary may not lead to greater satisfaction, as is the case with people with marital problems, the unemployed, the sick and those with social difficulties, because these problems are not improved with money Becchetti and Rossetti, Observing this, Neve and Oswald highlight the double-sided relationship between satisfaction and income, and satisfaction with life can lead a person to greater economic dynamism and therefore better results.
THE RELATIONSHIP BETWEEN INCOME, WEALTH, AND LIFE SATISFACTION
Contradicting the results which show, to some extent, the strong relationship between satisfaction and increased income, Cheung and Lucas find a weak relationship between these two constructs. These studies indicate that there is no unanimity in terms of the relationship between income and overall life satisfaction, which signifies that different contexts can lead to different relationships. Thus, investigating this theme in terms of the beneficiaries of the BFP can help the federal government understand whether the focus on monetary aspects is appropriate for this scope.
To identify this population, we used the data available in the Transparency Portal during the month of October Thus, the data was collected based on the number of beneficiaries in each of the 31 municipalities identified. Given the specificity of the target audience, the large number of cities and the difficulty of access to the beneficiaries, the sample was selected due to two types of convenience: Given that we did not achieve success with this approach, the interviewers went to the neighborhoods and asked people on the street if they were beneficiaries of the BFP and then whether they wanted to participate in our study.
Those who did, answered a questionnaire individually in the format of an interview. The researcher read each question and the interviewee answered them one by one. We opted for this more direct form of contact to guarantee a greater understanding of the questions and more authenticity in the responses.
Our data collection used an instrument with four blocks of questions. The first dealt with OLS using a scale adapted from Hutz The original scale was made up of 10 variables, but after content analysis we opted to use 7 questions using a five point likert 1 type scale.
Content analysis was used, according to Malhotrato select questions which contribute to the collection of the desired information.
If the question did not contribute, it was excluded. This process was conducted by three specialists who assumed that seven questions to evaluate overall life satisfaction would already be satisfactory. The second block deals with the FWB factor, originally developed by Norvilitis, Szablicki and Wilsonand it consists of eight questions.
However, to place it within the same perspective as the OLS factor, we used just four variables which deal with feelings related to life at the moment of the questionnaire, or in other words, the present. The third part deals with personal and family financial decisions, practices and experiences. To analyze the data collected, we used descriptive statistics and multivariate analysis techniques, for which we used SPSS In this context, Byrne considers it necessary to analyze various indices of adjustment to evaluate the appropriateness of the proposed model for the data sample.
For the purposes of this study, the validity of the measurement model was evaluated through the verification of convergent validity, reliability and unidimensionality for each construct, in accordance with the recommendation of Hair and partners The convergent validity of each construct was analyzed by observing the magnitude and statistical significance of the standard coefficients and by the indices of absolute adjustments: There is no consensus in the literature in terms of acceptable values for these indices.
The verification of construct unidimensionality was performed through an evaluation of the standard residuals, and absolute values less than 2. In addition, all the models were estimated using a maximum likelihood bootstrap, with a sample size of 1, as suggested by Cheung and Lau The Pearson correlation indicates the associative force between any two variables Pestana and Gageiro, Cluster analysis aggregates objects based on their characteristics Hair et al.
According to Malhotrathe clusters obtained should present internal homogeneity as well as external homogeneity, distinguishing them from the rest of the objects. The Ward method was used for the cluster analysis, which is also known as the variance method. The Ward method was selected because it is one of the most consistent for interval scales Hair et al. This study uses three clusters, because we perceived that the groupings identified with this composition are more appropriate to explain the behavior of our sample group.
In addition, to verify whether there is a significant difference between the groups, we applied a t-test. To improve the characterization of these clusters, we performed descriptive statistics of variables related to aspects of personal and family financial decisions, practices and experiences within the different groups of our study sample.
Analysis and discussion of the results Of the people surveyed, only 14 were men. This characteristic can be justified by the fact that the federal government prioritizes the granting of this benefit to women, who are viewed as more cautious and responsible MDS and Senarc, This act by the federal government can be seen as being part of the concept of positive discrimination as a necessity, as pointed out by Souzain the sense that it benefits the most vulnerable portions of the population in order to diminish inequalities, in this case poor women the profile of the beneficiaries of the BFP.
In terms of age, the sample is quite heterogeneous and all the age groups are represented.
The other profile variables are homogeneous, with In terms of their occupations, In other words, these benefits represent a sizeable portion of their income. Through these characteristics, we can identify a very specific profile of individuals with a defined family structure, with a spouse and children even those who are not married have childrentheir own home in most cases, provided by the municipal governments to low income familiesa low level of education and seasonal employment, which are linked to low levels of income and greater vulnerability and more difficulties in maintaining a minimum standard of living.
These are the characteristics which increase the importance of investigating aspects linked to the OLS and FWB for this portion of the population. Thus below we present descriptive statistics for these two constructs Table 1.
In terms of OLS, the sample shows an average positive perception of 3. Examining the data in a more detailed manner, we can see that there was more agreement with variables Q2, Q4, and Q6 which indicates that the beneficiaries like and are happy with their lives and feel well the way they are.
This result enables us to conjecture that material aspects are not that relevant for Overall Life Satisfaction for this portion of the population. Ng and Diener corroborate this, making it clear that material wealth is more important to the rich in terms of their feeling of satisfaction with life than it is to the poor.
A study of families of the same profile with budgetary restrictions in Africa, found that this portion of the population had a relatively low feeling of satisfaction with life, but income levels, professional situations, conditions of poverty and government services can influence this result and they were not examined in the African study Meyer and Dunga, Investigating FWB, we can see that the average overall perception was 3.
We can see that the highest averages Q9 and Q10 are for the variables concerning constant worrying and thinking about their debts, which minimizes the feeling of financial well-being. In addition, the beneficiaries related that they feel uncomfortable with the size of their debts. Contrary to these variables is the fact that in general the respondents have not had discussions with other people about their debts, which indicates that this is not an everyday occurrence for these families.
However, this is not a result that is observed just within this sample. Thus, it should be pointed out that even samples involving portions of the population with better financial conditions do not demonstrate positive levels of FWB, especially since this perception is based on whether individuals feel their incomes are enough to satisfy their overall needs Arber, Fenn and Meadows, Analyzing these two constructs together, we can see that our respondents display a high level of OLS, but a low level of FWB.
Looking at these initial results, we can suggest that even though our interviewees do not have sufficient financial resources to make them feel secure, they do feel satisfied with their lives, probably because other factors that affect OLS are being met such as food, shelter more than half have their own home and basic education, as can be seen in the descriptive statistics.
Essays on the Relationship Between Income and Life Satisfaction in the United States
This was done to confirm whether the models are appropriate by analyzing the adjustment indices which are presented in Table 2.
Verifying the initial OLS model, we can see that the values are outside of the pre-established standards. Two main measures were taken in order to achieve a more appropriate measurement model: Thus, variable Q1 was excluded because it presented a coefficient of 0. After these adjustments, all the adjustment, reliability and unidimensionality indices presented satisfactory values.
In terms of FWB, most of the adjustment indices presented values within the pre-established standards. However, the reliability index was below 0. Thus variable Q11 was excluded, and its coefficient of 0. After this adjustment, the model displayed appropriate results.
The higher coefficients identified with these two questions supports the influence of the perception of satisfaction and personal realization on the level of OLS. Question Q3 had the lowest coefficient, which is evidence of the lesser relevance of material aspects in the formation of a positive perception of OLS. For FWB we found that the variable that had the greatest influence was Q10, which questioned whether those interviewed think a lot about their debts, followed by question Q9.
Question Q8 was the one which contributed least to the formation of the model and it is related to individuals feeling uncomfortable with the amount of debt that they owe. This result indicates that the fact that people think and worry about their debts is more relevant to the formation of FWB than being uncomfortable with finding themselves in this situation. The formation of each construct used the coefficients for each of the variables in the validated models.
With these two standard factors in hand, we first applied the Pearson correlation to verify the degree of association between the constructs OLS and FWB.
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The result of the test was not significant value This finding can justify the fact that our sample group presents an elevated OLS and a reduced FWB, or in other words, the financial worries and difficulties faced by these beneficiaries do not interfere with their perception of OLS, and other aspects may be interfering with this factor, such as the possibility of maintaining the minimum standard of living provided by the BFP.
A study performed by the OECD has already reported similar results. According to the authors, income is the aspect that least affects the well-being of Brazilians. In the same vein, Cheung and Lucas found a very low association between these two factors. Table 3 presents the descriptive statistics of the standard constructs according to the distribution of our three formed clusters. In analyzing the descriptive statistics of the constructs that form each of these clusters, we can observe that the individuals with high OLS and low FWB make up Cluster 1, which has the largest proportion of respondents This composition is an intriguing combination to the extent that it indicates that the beneficiaries of the BFP are satisfied with their lives, but have low FWB.
This result matches the evidence identified by the descriptive statistics of these constructs, and this structure of responses was already verified by that analysis. To justify this fact we can point to the OECD study that found that income is relatively unimportant to the well-being of Brazilians.
Cluster 2 contains individuals with intermediate Overall Life Satisfaction average 2. Thus, the satisfaction with life is not completely dominant, and a lack of financial well-being could be one of the factors leading to a more unfavorable view of life within this specific group, because this behavior was not observed in Cluster 1. In terms of OLS, it is possible that the availability of this monthly financial resource has a greater effect on their standards of living, especially because their greatest dilemma is the seasonality of their monthly income Collins et al.
The improved outlook embedded in the higher income aspirations causes the latter to have a positive effect on life satisfaction. This suggests that, ten years into the transition process, the reaction patterns of life satisfaction in Russia differ substantially from those in developed countries.
While the relationship between life satisfaction and income or institutions has recently received a lot attention, the relationship between life satisfaction and accumulated wealth remains unexplored.
This dissertation makes use of the Gallup World Poll and a novel wealth database compiled by the World Bank to evaluate the effect of wealth, produced capital, and natural resources on life satisfaction.
The dissertation finds that both produced capital and natural capital have a positive effect on life satisfaction. The effect of good institutions and informal safety nets is also positive. However, in results that parallel findings from the resource curse literature, this dissertation shows that the positive effect of natural capital is due to diffuse natural resources like cropland, pastureland and forestry.
Subsoil asset wealth has no significant effect on life satisfaction. Blood feuds represent a significant challenge to law enforcement, institutional consolidation and economic development due to the violence they generate and the other forms of crime they contribute to. This paper seeks to model and explain the decision making dynamics behind blood feuds.