Drivers and outcomes of financial well-being

Abstract Purpose: The study aims to investigate the antecedents and consequences of financial well-being. Originality/value: Despite advances in knowledge about financial well-being, results remain fragmented and contradictory. Thus, this study originally seeks to quantitatively synthesize the antecedents and consequences of financial well-being, aiming to systematize the empirical generalization about theoretical quantitative relationships. Furthermore, our study presents and tests potential moderators associated with methodological, contextual, and personal factors that may affect the main relationships. Design/methodology/approach: A meta-analysis was performed covering 88 valid studies, which generated 236 observations and a cumulative sample of 67,337. Findings: Regarding the antecedents of financial well-being, negative financial behavior and attitudes promoted negative effects on financial well-being, and positive behavior and attitudes promoted positive influen-ces on financial well-being. Individual capabilities demonstrated positive relationships with financial well-being. Similarly, positive effects were found between rational decision-making and financial well-being. Concerning the consequences of financial well-being, there is a negative relationship between financial well-being and life dissatisfaction and between financial well-being and negative feelings. The research revealed positive correlations between financial well-being and life satisfaction and between financial well-being and positive feelings. This meta-analy-sis contributes to the financial well-being literature by offering a set of empirical generalizations about the direct and moderation effects investigated. The study is important to managers because it interprets the main predictors and outcomes of financial well-being. Furthermore, the study can guide public policies, directing investments to develop better financial knowledge and, in doing so, evoke greater financial well-being that will generate better life satisfaction and positive feelings throughout society.