The purpose of the study reported here is to assess the causal relationship among financial problems, financial management practices, financial satisfaction, and life satisfaction. The data used were collected via survey in June 2012 through personal interviews in Ankara, Turkey. The sample size is 900 interviewees. Participants of this study consisted of married women (40.8%) and men (59.2%) with an average age of 47 (sd: 14.1). Results show that the respondents who are women and those who are older and have higher income report more satisfaction with financial status. Satisfaction with financial status is caused mainly by financial management practices and financial problems. The demographic factors that influence life satisfaction are monthly income and education level of spouse. Satisfaction with life is predicted by satisfaction with financial status and financial problems. This study supported the relationship between financial factors and life satisfaction.
|Keywords:||Financial Problems, Family Financial Management, Financial Satisfaction, Life Satisfaction|
Professor, Department of Family and Consumer Sciences, Faculty of Administration and Economic Sciences, Hacettepe University, Ankara, Turkey