Analysis of demographic variation and childhood correlates of financial well-being across 22 countries

Using nationally representative data from 202,898 participants in the Global Flourishing Study this study examines factors associated with financial well-being across 22 culturally diverse countries. Financial well-being is assessed through four dimensions: financial security, material security (e.g., safety, food, or housing), subjective financial well-being (comfort with current income), and actual income levels. We investigate how demographic factors—including age, gender, marital status, employment status, education, religious service attendance, and immigration status—are correlated with financial well-being. Additionally, we analyze the associations between early-life conditions, such as parental marital status, quality of relationships with parents, experiences of abuse and neglect, childhood health, religious attendance, and family financial status, and financial well-being in adulthood. Our findings reveal considerable cross-national differences in levels of financial well-being and its demographic correlates, emphasizing the importance of cultural and socio-demographic factors in shaping financial outcomes. Early-life conditions were also consistently associated with adult financial well-being, though these associations varied substantially across countries. These results suggest that interventions aimed at improving financial well-being should consider both current socio-demographic factors and early-life experiences, tailored to the unique cultural and socioeconomic contexts of different populations.