Journal article

Income, personality, and subjective financial well-being: the role of gender in their genetic and environmental relationships

Michael J Zyphur, Wen-Dong Li, Zhen Zhang, Richard D Arvey, Adam P Barsky

Frontiers in Psychology | FRONTIERS MEDIA SA | Published : 2015

Abstract

Increasing levels of financial inequality prompt questions about the relationship between income and well-being. Using a twins sample from the Survey of Midlife Development in the U. S. and controlling for personality as core self-evaluations (CSE), we found that men, but not women, had higher subjective financial well-being (SFWB) when they had higher incomes. This relationship was due to 'unshared environmental' factors rather than genes, suggesting that the effect of income on SFWB is driven by unique experiences among men. Further, for women and men, we found that CSE influenced income and SFWB, and that both genetic and environmental factors explained this relationship. Given the relati..

View full abstract