We’re excited to announce that Financial Wellness Lab lead researcher, Dr. Adam Metzler, and PhD candidate, Nathan Phelps, have recently published a paper in the journal PLOS ONE.
Their research explores the 2016 National Financial Well-Being Survey, where they identify four distinct clusters of respondents. Notably, two of these groups exhibit similar levels of financial well-being despite having significantly different objective financial situations.
As Metzler and Phelps highlight, "These findings suggest a systematic bias between financial well-being and objective financial circumstances." They argue that this highlights the critical need to assess both subjective perceptions and objective financial metrics when evaluating overall financial health.
Read the full paper here.
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