Analysis of demographic variation and childhood correlates of financial well-being across 22 countries

Piotr Bialowolski (), Christos A. Makridis, Matt Bradshaw, Dorota Weziak-Bialowolska, Craig Gundersen, Noémie Pertel, Cristina Gibson, Sung Joon Jang, R. Noah Padgett, Byron R. Johnson and Tyler J. VanderWeele
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Piotr Bialowolski: Kozminski University
Christos A. Makridis: University of Nicosia
Matt Bradshaw: Baylor University
Dorota Weziak-Bialowolska: Harvard University
Craig Gundersen: Baylor University
Noémie Pertel: Harvard University
Cristina Gibson: Pepperdine University
Sung Joon Jang: Baylor University
R. Noah Padgett: Harvard University
Byron R. Johnson: Harvard University
Tyler J. VanderWeele: Harvard University

Nature Human Behaviour, 2025, vol. 9, issue 5, 917-932

Abstract: Abstract Using nationally representative data from 202,898 participants in the Global Flourishing Study, this work examines factors associated with financial well-being across 22 countries. We investigate how demographic factors—including age, gender, marital status, employment status, education, religious service attendance and immigration status—are correlated with financial well-being (as assessed through four dimensions). Additionally, we analyse associations between recalled early-life conditions, such as parental marital status and childhood health, with financial well-being in adulthood. Our findings reveal cross-national differences in levels of financial well-being and its demographic correlates. Early-life conditions were also consistently associated with adult financial well-being, although these associations varied substantially across countries. These results suggest that understanding financial well-being should encompass both current sociodemographic factors and early-life experiences within the unique cultural and socioeconomic contexts of different populations.

Date: 2025
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DOI: 10.1038/s41562-025-02207-4

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