Behavioral Drivers of Financial Satisfaction: The Interplay of Perceived Financial Knowledge and Socio-Economic Status
Year: 2025
Type: article
Study design: Observational Study
Abstract: This study explores what drives financial satisfaction among credit card users, focusing on how perceived financial knowledge and socio-economic status shape their contentment. The research also examines whether financial risk tolerance and financial behavior play mediating roles in these relationships. Using a survey of 384 randomly selected credit card users across fifteen barangays, data were gathered through a validated questionnaire with strong reliability. Statistical analyses, including Kruskal-Wallis tests and mediation modeling, were employed to examine the relationships among variables. The findings revealed that respondents generally reported high levels of financial knowledge, socio-economic status, risk tolerance, and positive financial behaviors, along with considerable financial satisfaction. Income and age significantly influenced satisfaction levels, while factors like sex, marital status, education, and income source showed no meaningful differences. Most importantly, the study uncovered that neither financial knowledge nor socio-economic status directly boosted satisfaction. Instead, financial behavior emerged as the crucial link to what people actually do with their knowledge and resources matters far more than simply possessing them. Surprisingly, risk tolerance played no significant role in translating knowledge or status into satisfaction. These results suggest that knowing about finances or having favorable economic conditions isn't enough. The real key lies in turning that knowledge into action through responsible financial practices. For developing economies like the Philippines, experiencing rapid credit growth, this means financial education programs should focus less on theory and more on helping people develop practical money management habits that truly improve their financial well-being.
DOI: 10.14419/zzsf4q36
Authors: Irma Arcega, Janell Mae Encarnacion, Jun Ross Candelario, Kate Andrei Amponin, Noel Lastima, Raphael Gravador, Renan Ceniza, Dr. Nickie Boy A. Manalo, Dr. Gemar G. Perez, Dr. April M. Perez
Institution: Batangas State University
Subfield: Accounting
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4417459042
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