Live Poster Session: Zoom Link Passcode: 568356
Abstract: Utilizing data from the Financial Well Being Survey in a sample of 6394 participants, Bell’s research investigates the association between self-reported life satisfaction with the number of shocks an individual has gone through in the past 12 months since taking the survey — Additionally, the specificity of the event was considered for association with predicted life satisfaction. Previous studies indicate that financial shocks have a correlation to life satisfaction; Income shocks have been shown to correlate to high decrease in satisfaction, while expense shocks correlate with a mild decrease (Bufe et al., 2021). Studies such as these omit consideration of the accumulation and specificity of individual shocks. Bell considered four different events: participants who got a divorce, had a health emergency, experienced death of bread winner, and lost a job. Bell’s research found that the number of shocks a given person has undergone contains a significant negative association with life satisfaction; That is, the more shocks, the less satisfied someone is to report themselves. As for the specificity of the shocks, the results were too varied in significance to claim an association between the event and life satisfaction.
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