Jing Jian Xiao|Barbara O’Neill
Propensity to plan, financial capability, and financial satisfaction
University of Rhode Island|Virginia Cooperative Extension|Rutgers, The State University of New Jersey
abstract propensity plan indicator financial capability contributes consumer financial wellbeing previous research shown propensity plan positively related objective financial wellbeing little research found examine association subjective financial wellbeing using financial satisfaction measure subjective financial wellbeing study addressed research gap three objectives 1 explore factors associated propensity plan 2 examine association propensity plan financial capability factors 3 examine association propensity plan financial satisfaction using data 2015 us national financial capability study results showed socioeconomic differences propensity plan results suggest consumers economic resources higher scores propensity plan addition propensity plan positively associated financial capability factors suggesting financial planning desirable financial behavior finally propensity plan made unique contributions financial satisfaction controlling socioeconomic financial capability factors