Ekonomické rozhľady/Economic Review 3/2025

IDENTIFYING THE RELATIONSHIP BETWEEN WELLBEING AND FINANCIAL VULNERABILITY

KATARÍNA ILENČÍKOVÁ

 

https://doi.org/10.53465/ER.2644-7185.2025.3.196-207

 

Abstract: Subjective wellbeing is the term used to describe an individual's satisfaction with their life and standard of living. The research in this area is challenging because it is a subjective expression of the respondent’s feelings, and individuals may have different ideas or preferences. On the other hand, objectively measured data (e.g., income, wealth, debt) provide unbiased information about an individual’s financial situation. This paper examines the relationship between selected financial vulnerability indicators (debt-to-income, debt-to-assets, debt service-to-income, late repayment, expenses exceeding income, rejected loan) and subjective wellbeing. For the testing of the hypothesis, data from the Household Financial Situation and Consumption Survey (HFCS) for Slovakia were taken from the 2021 wave. The results indicate a significant and negative relationship between the financial vulnerability indicators and subjective wellbeing.

Keywords: subjective wellbeing, financial vulnerability, household finance, debt indicators

JEL Classification: D14, I31, G51

Fulltext: PDF

Online publication date: 25 September 2025

 

To cite this article (APA style):

Ilenčíková, K. (2025). Identifying the relationship between wellbeing and financial vulnerability. Economic Review, 54(3), 196 ─ 207. https://doi.org/10.53465/ER.2644-7185.2025.3.196-207

 

 

Publisher: Bratislava University of Economics and Business | EUBA

ISSN 2644-7185 (online)

 

License:

by nc nd

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.