Abstract
The present study aims at analysing the role of income on subjective well-being (SWB) through the mediation channel of financial satisfaction (FS) by deploying the generalised structural equation model (GSEM) with order logit after collecting the data from 1566 households in rural and urban Punjab, Pakistan. Results of this study illustrate that education, income and household assets related to FS are significantly positive, while these variables had no significant relationship with SWB. Moreover, findings of the study showed that income does not affect SWB of people unless they are financially satisfied with the overall position of their household. Health, social capital and freedom of choice are also significant predictors of SWB. The present study suggests the policy makers to lower the interest rate to encourage investment among lower- or middle-income group, which may lead to an increase in their assets and consequently, an increase in financial and subjective wellbeing.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Happiness and Development
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
