Beyond Income: The Importance for Life Satisfaction of Having Access to a Cash Margin

Martin Berlin () and Niklas Kaunitz

Journal of Happiness Studies, 2015, vol. 16, issue 6, 1557-1573

Abstract: We study how life satisfaction among adult Swedes is influenced by having access to a cash margin, i.e. a moderate amount of money that could be acquired on short notice either through own savings, by loan from family or friends, or by other means. We find that cash margin is a strong and robust predictor of life satisfaction, also when controlling for individual fixed-effects and socio-economic conditions, including income. Since it shows not to matter whether cash margin comes from own savings or with help from family members, this measure captures something beyond wealth. Copyright Springer Science+Business Media Dordrecht 2015

Keywords: Life satisfaction; Income; Cash margin; Subjective well-being; Living conditions (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/s10902-014-9575-7

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