Table 1 Regression – adjusted R 2 score...

Table 1

Regression – adjusted R² score of FWB sections and subcomponents

	Sections of FWB			Overall well-being
	Meeting commitments	Feeling comfortable	Financial resiliency	Overall well-being
Financial behavior factors	0.57	0.48	0.47	0.64
Spending restraint (MUB)	0.21	0.19	0.21**	0.28**
Not borrowing for daily bills (MUB)	0.54**	0.22**	0.38**	0.45**
Active saving (MUB)	0.25	0.44**	0.30**	0.47**
Informed product choice (MMB)	0.14	0.20	0.05	0.17
Informed decision-making (MMB)	0.02	0.05	0.01	0.04
Planning and budgeting (MMB)	0.09	0.14	0.05	0.13
Monitoring finances (MMB)	0.13	−0.02	0.02	0.02

Psychological factors	0.27	0.39	0.35	0.46
Time orientation (PT)	0.16	0.12	0.14	0.19
Impulsivity control (PT)	0.13	0.07	0.12	0.14
Social status (PT)	−0.02	−0.01	−0.01	−0.02
Self-control (PT)	0.03	0.03	−0.003	0.03
Locus of control (PT)	0.27**	0.32**	0.10	0.29**
Attitudes towards money (PT)	0.18	0.26**	0.39**	0.39**

Knowledge and experience factors	0.01	−0.01	−0.02	0.004
Money management experience	−0.01	−0.001	−0.0004	0.003
Financial product experience	0.01	0.00	−0.004	0.01
Financial product knowledge	0.00	0.01	−0.02	−0.002
Understanding of risk	0.01	−0.01	−0.01	0.002

Socioeconomic factors	0.16	0.45	0.17	0.36
League	−0.02	−0.01	−0.003	−0.003
Age	0.07**	0.006	0.06**	0.05**
Debt levels	−0.01	−0.01	−0.02	−0.01
Income	0.10**	0.39**	0.10**	0.28**
Income changes	0.04	0.16**	−0.008	0.08
Expenditure changes	−0.01	−0.02	−0.004	−0.01

	Sections of FWB			Overall well-being
	Meeting commitments	Feeling comfortable	Financial resiliency	Overall well-being
Financial behavior factors	0.57	0.48	0.47	0.64
Spending restraint (MUB)	0.21	0.19	0.21**	0.28**
Not borrowing for daily bills (MUB)	0.54**	0.22**	0.38**	0.45**
Active saving (MUB)	0.25	0.44**	0.30**	0.47**
Informed product choice (MMB)	0.14	0.20	0.05	0.17
Informed decision-making (MMB)	0.02	0.05	0.01	0.04
Planning and budgeting (MMB)	0.09	0.14	0.05	0.13
Monitoring finances (MMB)	0.13	−0.02	0.02	0.02

Psychological factors	0.27	0.39	0.35	0.46
Time orientation (PT)	0.16	0.12	0.14	0.19
Impulsivity control (PT)	0.13	0.07	0.12	0.14
Social status (PT)	−0.02	−0.01	−0.01	−0.02
Self-control (PT)	0.03	0.03	−0.003	0.03
Locus of control (PT)	0.27**	0.32**	0.10	0.29**
Attitudes towards money (PT)	0.18	0.26**	0.39**	0.39**

Knowledge and experience factors	0.01	−0.01	−0.02	0.004
Money management experience	−0.01	−0.001	−0.0004	0.003
Financial product experience	0.01	0.00	−0.004	0.01
Financial product knowledge	0.00	0.01	−0.02	−0.002
Understanding of risk	0.01	−0.01	−0.01	0.002

Socioeconomic factors	0.16	0.45	0.17	0.36
League	−0.02	−0.01	−0.003	−0.003
Age	0.07**	0.006	0.06**	0.05**
Debt levels	−0.01	−0.01	−0.02	−0.01
Income	0.10**	0.39**	0.10**	0.28**
Income changes	0.04	0.16**	−0.008	0.08
Expenditure changes	−0.01	−0.02	−0.004	−0.01

Note(s): All figures reported in chart above are adjusted R² values from regression tests. **Multivariate regression and highlights subcomponents at the p < 0.05 significance level. MUB stands for money use behaviors. MMB stands for money management behaviors. PT stands for personality traits

Source(s): Created by the authors

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