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Financial Well-Being Index in México

Author

Listed:
  • Osvaldo García-Mata

    (Universidad Autónoma de Tamaulipas)

  • Mariana Zerón-Félix

    (Universidad Autónoma de Tamaulipas)

  • Guadalupe Briano

    (Universidad Autónoma de San Luis Potosí)

Abstract

This paper aims to construct a financial well-being index and analyze its determinants among adults in Mexico. It employs multiple correspondence analysis, multiple linear regression, and ordinal logistic models created over data from the National Survey on Financial Inclusion 2018. The results confirm that the amount of income and its regularity, education, being a man, married, retired, student or worker contribute to elevating financial well-being. This work adds to the body of knowledge of subjective well-being, a topic slightly studied in Mexico, thus, its originality. The lack of data regarding financial satisfaction or stress is among its main limitations. Nevertheless, our findings can help implement policies and design financial products that propitiate financial well-being and improve the quality of life in Mexico and emerging nations with comparable socioeconomic conditions.

Suggested Citation

  • Osvaldo García-Mata & Mariana Zerón-Félix & Guadalupe Briano, 2022. "Financial Well-Being Index in México," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 163(1), pages 111-135, August.
    • Handle: RePEc:spr:soinre:v:163:y:2022:i:1:d:10.1007_s11205-022-02897-7
    DOI: 10.1007/s11205-022-02897-7
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    Cited by:

    1. Ceyla Antonio-Anderson & Elena Fuentes & Maricela Carolina Peña Cárdenas, 2024. "Incidencia de los factores socioeconómicos en la alfabetización financiera," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 19(1), pages 1-25, Enero - M.
    2. Leonore Riitsalu & Rene Sulg & Henri Lindal & Marvi Remmik & Kristiina Vain, 2024. "From Security to Freedom— The Meaning of Financial Well-being Changes with Age," Journal of Family and Economic Issues, Springer, vol. 45(1), pages 56-69, March.

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    More about this item

    Keywords

    Financial well-being; Multiple correspondence analysis; Gender gap; Mexico;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • G50 - Financial Economics - - Household Finance - - - General
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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