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J. Intell. 2017, 5(2), 11; doi:10.3390/jintelligence5020011

Socio-Demographic Indicators, Intelligence, and Locus of Control as Predictors of Adult Financial Well-Being

1
Department of Psychology, University College London, London WC1E 6BT, UK
2
BI Norwegian Business School, Nydalsveien 37, 0484 Oslo, Norway
3
ESRC Centre for Learning and Life Chances in Knowledge Economies and Societies, Institute of Education, University College London, London WC1H 0AL, UK
*
Author to whom correspondence should be addressed.
Academic Editor: Paul De Boeck
Received: 30 December 2016 / Revised: 30 March 2017 / Accepted: 30 March 2017 / Published: 6 April 2017
(This article belongs to the Special Issue Intelligence in the Workplace)
View Full-Text   |   Download PDF [908 KB, uploaded 6 April 2017]   |  

Abstract

The current study investigated a longitudinal data set of 4790 adults examining a set of socio-demographic and psychological factors that influence adult financial well-being. Parental social status (at birth), childhood intelligence and self-esteem (at age 10), locus of control (at age 16), psychological distress (age 30), educational qualifications (age 34), current occupation, weekly net income, house ownership status, and number of rooms (all measured at age 38 years) were examined. Structural Equation Modelling showed that childhood intelligence, locus of control, education and occupation were all independent predictors of adult financial well-being for both men and women. Parental social status and psychological distress were also significant predictors of the outcome variable for men, but not for women. Whereas for women, in comparison to men, the effects of current occupation and childhood intelligence on the outcome variable appeared to be stronger. The strongest predictor of adult financial well-being was current occupational prestige, followed by educational achievement. The gender deferential of financial well-being indicators and its implications are discussed. View Full-Text
Keywords: financial well-being; intelligence; locus of control; malaise; education and occupation; longitudinal financial well-being; intelligence; locus of control; malaise; education and occupation; longitudinal
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Furnham, A.; Cheng, H. Socio-Demographic Indicators, Intelligence, and Locus of Control as Predictors of Adult Financial Well-Being. J. Intell. 2017, 5, 11.

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