IDEAS home Printed from https://ideas.repec.org/a/plo/pone00/0309260.html

An exploratory clustering analysis of the 2016 National Financial Well-Being Survey

Author

Listed:
  • Nathan Phelps
  • Adam Metzler

Abstract

This paper uses cluster analysis to explore the results of the 2016 National Financial Well-Being survey. Our analysis identifies four groups, two of which have very similar levels of financial well-being but markedly different objective financial situations. These findings indicate there is a systematic bias between financial well-being and objective financial situation. Although it is understood that these two constructs do not evaluate exactly the same thing, the difference in objective financial situation between the two groups suggests that, for large subsets of the American population, these constructs may be more different than the existing literature seems to suggest. This underscores the importance of considering both objective and subjective measures when assessing an individual’s overall financial situation.

Suggested Citation

  • Nathan Phelps & Adam Metzler, 2024. "An exploratory clustering analysis of the 2016 National Financial Well-Being Survey," PLOS ONE, Public Library of Science, vol. 19(9), pages 1-15, September.
    • Handle: RePEc:plo:pone00:0309260
    DOI: 10.1371/journal.pone.0309260
    as

    Download full text from publisher

    File URL: https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0309260
    Download Restriction: no
    File URL: https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0309260&type=printable
    Download Restriction: no
    File URL: https://libkey.io/10.1371/journal.pone.0309260?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:plo:pone00:0309260. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: plosone (email available below). General contact details of provider: https://journals.plos.org/plosone/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.