Financial Capability and Psychological Well Being. A Cluster Analysis of Credit Union Members
Posted on:
12/26/12This paper provides evidence on the interrelationships between particular domains of financial capability and psychological well-being amongst a sample of 1,600 adult credit union members in the USA. The findings suggest that members who appear to have lower financial capability are also likely to seem less happy, more stressed and have poorer general health and less self-efficacy. The paper highlights the role of credit unions in improving and maintaining members' financial capability and psychological well-being.
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