Work

Debt and Subjective Well-Being: Does the Type of Debt Matter?

Year: 2020

Type: article

Abstract: Based on longitudinal analyses of data from the Swiss Household Panel, this paper investigates the effect of different types of debt on two evaluative measures of subjective well-being: financial satisfaction and life satisfaction. Payment arrears reduce financial satisfaction more than loans or the accumulation of different types of debt (arrears and loans). This negative effect is stable over time. Conversely, each additional year with arrears decreases life satisfaction, confirming the overall and general negative effect of arrears on all domains of daily life, especially for the elderly.

Source: Swiss Journal of Sociology

DOI: 10.2478/sjs-2020-0022

Authors: Tristan Coste, Caroline Henchoz, Boris Wernli

Institutions: University of Fribourg, HES-SO Valais-Wallis, FORS – Swiss Centre of Expertise in the Social Sciences, University of Lausanne

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: diamond

OpenAlex ID: W3107648286

FWCI: 2.791

Cites: 40

Cited by: 15

Related to: 10