Table 5 Random effects meta-analysis of subjective and objective measures of financial well-being by demographic categories

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

Variable

Category

Financial security (NOT worry about being able to meet normal monthly expenses)

Material security (NOT worry about safety, food or housing)

Subjective financial well-being

Highest income quintile

Est. (95% CI)

Est. (95% CI)

Proportion (95% CI)

Proportion (95% CI)

Age group

18–24

5.48 (5.07–5.89)

6.96 (6.66–7.26)

0.70 (0.62–0.76)

0.17 (0.13–0.20)

25–29

5.29 (4.89–5.68)

6.94 (6.65–7.22)

0.66 (0.58–0.73)

0.17 (0.13–0.22)

30–39

5.29 (4.88–5.70)

6.89 (6.61–7.18)

0.64 (0.55–0.72)

0.21 (0.17–0.26)

40–49

5.35 (4.95–5.75)

6.86 (6.59–7.14)

0.63 (0.53–0.71)

0.23 (0.19–0.28)

50–59

5.60 (5.14–6.05)

6.97 (6.71–7.22)

0.64 (0.54–0.74)

0.22 (0.17–0.27)

60–69

5.87 (5.39–6.36)

7.09 (6.84–7.34)

0.65 (0.55–0.74)

0.16 (0.12–0.20)

70–79

6.33 (5.79–6.88)

7.26 (7.01–7.50)

0.69 (0.58–0.79)

0.12 (0.09–0.16)

80 or older

6.74 (6.16–7.31)

7.40 (7.13–7.67)

0.80 (0.64–0.90)

0.06 (0.02–0.15)

Global P value

<0.001**

<0.001**

<0.001**

<0.001**

Gender

Male

5.79 (5.39–6.19)

6.98 (6.73–7.24)

0.69 (0.60–0.76)

0.23 (0.19–0.27)

Female

5.39 (4.93–5.86)

7.03 (6.80–7.26)

0.64 (0.55–0.72)

0.17 (0.13–0.20)

Other

4.71 (4.08–5.34)

5.95 (5.45–6.44)

0.47 (0.14–0.83)

0.01 (0.00–0.10)

Global P value

<0.001**

<0.001**

<0.001**

<0.001**

Marital status

Married

5.79 (5.30–6.29)

7.23 (6.98–7.49)

0.70 (0.60–0.79)

0.24 (0.19–0.29)

Separated

5.13 (4.68–5.57)

6.56 (6.28–6.84)

0.54 (0.46–0.63)

0.11 (0.07–0.18)

Divorced

5.32 (4.95–5.68)

6.58 (6.26–6.91)

0.57 (0.50–0.65)

0.12 (0.08–0.17)

Widowed

5.84 (5.36–6.33)

6.92 (6.61–7.22)

0.62 (0.50–0.73)

0.09 (0.06–0.12)

Domestic partner

5.15 (4.68–5.62)

7.01 (6.75–7.27)

0.64 (0.54–0.73)

0.18 (0.15–0.22)

Single, never married

5.42 (5.05–5.79)

6.73 (6.43–7.03)

0.66 (0.59–0.72)

0.16 (0.13–0.20)

Global P value

<0.001**

<0.001**

<0.001**

<0.001**

  1. *P < 0.05; **P < 0.007 (Bonferroni-corrected threshold); Est., meta-analytic mean/proportion (estimate); 95% CI, 95% confidence interval of meta-analytic mean/proportion; and the global P value corresponds to a test of the null hypothesis that there are no differences between the groups for that sociodemographic characteristic in all of the 22 countries (two-tailed test applied). Country-specific descriptive statistics are available in version b of Supplementary Tables 2–23. FS and MS are measured on a 0–10 scale, ranging from 0 = worry all of the time to 10 = do not ever worry. SFWB is defined as 0 = finding household’s income these days difficult or very difficult and 1 = living comfortably or getting by on present income.
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