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We examine financial literacy in Germany and its relevance for financial well-being. Using data from the Panel on Household Finances collected in 2021, we show that about 62% of German households answer the Big Three financial literacy questions correctly. Those with lower education, who are out...
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This study examines the relationship between financial socialization and well-being (financial and subjective) mediated by three motivations: financial knowledge, goal setting, and self-control, either directly on financial behaviors or indirectly through financial skills on financial behaviors...
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people have better relationships, are more productive, and have a longer life expectancy. General life satisfaction is being … community as well as policymakers. This Weekly Report investigates the income, work, and health satisfaction of the German … population from 2004 to 2021. Using data from the Socio-Economic Panel, we investigate if there are differences in satisfaction …
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People who are unable to maintain the same standard of living as others around them experience a sense of relative deprivation that has been shown to reduce feelings of well-being. Relative deprivation reflects conditions of worsening relative poverty despite striking reductions in absolute...
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