O que é necessário para o bem-estar financeiro? uma análise parcimoniosa dos principais modelos de mensuração

Abstract

Financial well-being can be understood as a state of being in which an individual, a consumer, is able to control his or her daily and monthly finances and absorb financial shocks. This is just one of the most varied concepts in the literature, which, in addition to concepts, presents a series of possibilities for measuring it and a large set of variables that attempt to explain it. Considering the breadth and complexity that exists and has been declared by several authors, this thesis aims to analyze the models of financial well-being in terms of the conditions necessary for its existence. In making these considerations, the research was carried out in three stages, culminating in the elaboration of three studies. The first of them presents a systematic review of the literature in which it presents the main models for measuring financial well-being and their antecedents. Twenty-seven different models and 103 independent variables were presented, and a set of analyses and research recommendations were listed. The second study meets the methodological perspective of the thesis. Since the purpose of this study is to resize the models and present one in a concise manner, the article presents the Necessary Conditions Analysis method, presenting its conceptualization, the differences between additive and necessity logics, a guide for conducting research that wants to use this method, and practical examples of the use of NCA. The text supports the research undertaken in the third study. The last study revisits the first to list the main variables that are shown to explain financial wellbeing, according to additive logic. By observing the results presented in the literature, those with the greatest explanatory power were selected and a new model was proposed that was evaluated based on the logic of necessity, with the objective of establishing the necessary conditions for financial well-being. The model has the variables stress for managing current money and expectation of future financial security as dependent variables and financial selfefficacy, self-control, financial literacy, financial behavior (insurance, savings, and investment), and materialism as independent variables. The scales were validated and data were collected, following accessibility and convenience criteria, with 615 valid responses. The survey included respondents from Brazil, with most of the sample concentrated in the Northeast region. The results indicate a relationship of need, supporting six of the twelve hypotheses listed, of Financial Literacy, Self-Control and Materialism for stress in managing current money and Financial Self-Efficacy, Insurance and Financial Literacy for expectations of future financial security. The results found in this thesis allow us to characterize five variables as necessary antecedents for the existence of financial well-being. Methodologically, the thesis is a practical example of the use of NCA as a method and can be useful to researchers who wish to use this method. Finally, the refinement of the financial well-being model based on the logic of need allows for more assertive decision-making to promote it.