A conceptual model of financial well-being for south african investors

Figures & data

Table 1. Descriptive statistics

	Mean	Std	Skewness	Kurtosis
Gender	1.57	0.50	−0.278	−1.93
FWB	1.81	0.76	0.33	−1.19
Age	3.14	0.81	−0.58	−0.46
Ethnicity	2.10	0.80	0.94	0.86
Marital status	3.31	1.30	−0.82	−0.67
Annual income	4.26	2.75	0.95	0.12

Table 2. Cross-tabulation of investors’ financial well-being

Variable	Category/Demographic	Low FWB	Average FWB	High FWB	Pearson chi-square
Gender	Male Female	26.3% 50.4%	44.8% 34.9%	29.0% 14.7%	0.000* (53.96)
Age	16–24 25–34 35–49 50+	33.3% 51.8% 49.2% 25.5%	60.0% 30.9% 37.5% 43.4%	6.7% 17.3% 13.3% 31.1%	0.000* (3.13)
Ethnicity	African White Coloured Indian/Asian	46.3% 35.3% 53.7% 46.4%	38.9% 40.1% 37.0% 35.7%	14.8% 24.6% 9.3% 17.9%	0.022** (11.25)
Marital status	Single (living alone) Single (living with parents) Not married (living together) Married No longer married	43.5% 51.5% 45.5% 35.2% 46.2%	38.3% 39.4% 34.8% 41.4% 33.8%	18.3% 9.1% 19.7% 23.4% 20.0%	0.324 (6.88)
Income p.a.	Less than R99 999 R100 000–R199 999 R200 000–R299 999 R300 000–R399 999 R400 000–R499 999 R500 000–R599 999 R600 000–R699 999 R700 000–R799 999 R800 000–R899 999 R900 000–R999 999 More than R1 000 000	62.5% 49.5% 51.4% 31.2% 43.4% 17.0% 31.0% 29.6% 8.3% 6.3% 12.9%	31.3% 36.2% 37.4% 45.2% 32.1% 48.9% 51.7% 44.4% 41.7% 50.0% 32.3%	6.3% 14.3% 11.2% 23.7% 24.5% 34.0% 17.2% 25.9% 50.0% 43.8% 54.8%	0.000* (2.50)

*Significant at 1% level, **Significant level at 5%, ***Significant at 10%

Figure 1. Gender and financial well-being.

Figure 2. Financial well-being according to age.

Figure 3. Financial well-being according to ethnicity.

Figure 4. Financial well-being according to marital status.

Figure 5. Financial well-being according to income.

Table 3. Multinomial regression of investors financial well-being

Variable	Category/Demographic	Beta	Std. error	Wald	Df	Sig	Expo(B)
Average financial well-being
Intercept		0.5	0.76	0.35	1	0.56
Gender	Male Female (Ref. group)	0.74$0^{\mathrm{b}}$	0.21	12.15	1 0	0.00*	2.10
Age	16–24 25–34 35–49 50+ (Ref. group)	0.71 –0.86 -0.77$0^{\mathrm{b}}$	0.63 0.33 0.24	1.2 6.96 10.30	1 1 1 0	0.27 0.01* 0.00*	2.02 0.42 0.47
Ethnicity	African White Coloured Indian/Asian (Ref. group)	0.45 0.39 0.20$0^{\mathrm{b}}$	0.41 0.35 0.45	1.25 1.20 0.13	1 1 1 0	0.26 0.27 0.66	1.57 1.47 1.22
Marital status	Single-staying alone Single- staying with parents Not married- staying together Married No longer married (Ref. group)	0.30 0.55 0.10 0.32$0^{\mathrm{b}}$	0.39 0.53 0.43 0.33	0.61 1.06 0.05 0.94	1 1 1 1 0	0.44 0.30 0.82 0.33	1.35 1.73 1.10 1.38
Income p.a.	Less than R99 999 R100 000–R200 000 R200 000–R300 000 R300 000–R400 000 R400 000–R500 000 R500 000–R600 000 R600 000–R700 000 R700 000–R800 000 R800 000-R900 000 R900 000-R999 999 Above R1 000 000 (Ref. group)	−1.65 –1.13 -1.10 –0.49 -1.17 0.23 –0.54 -0.64 0.51 1.34$0^{\mathrm{b}}$	0.67 0.65 0.65 0.66 0.69 0.74 0.75 0.77 1.26 1.24	6.03 2.99 2.89 0.55 2.84 0.10 0.53 0.69 0.16 1.18	1 1 1 1 1 1 1 1 1 1 0	0.01** 0.08*** 0.09*** 0.46 0.09*** 0.76 0.47 0.41 0.69 0.28	0.19 0.33 0.33 0.61 0.31 1.26 0.58 0.53 1.66 3.83
High financial well-being
Intercept		1.03	0.83	1.55	1	0.21
Gender	Male Female (Ref. group)	1.01$0^{\mathrm{b}}$	0.27	14.20	1 0	0.00*	2.75
Age	16-24 25–34 35-49 50+ (Ref. group)	−0.53 –0.80 -1.40$0^{\mathrm{b}}$	1.18 0.40 0.30	0.20 3.89 21.23	1 1 1 0	0.65 0.05** 0.00*	0.59 0.45 0.25
Ethnicity	African White Coloured Indian/Asian (Ref. group)	0.32 0.58 –0.26$0^{\mathrm{b}}$	0.55 0.46 0.68	0.35 1.61 0.14	1 1 1 0	0.56 0.21 0.71	1.38 1.79 0.77
Marital status	Single-staying alone Single- staying with parents Not married- staying together Married No longer married (Ref. group)	0.17 0.15 0.12 0.16$0^{\mathrm{b}}$	0.50 0.80 0.54 0.42	0.11 0.04 0.05 0.14	1 1 1 1 0	0.74 0.85 0.82 0.71	1.18 1.16 1.13 1.17
Income p.a.	Less than R99 999 R100 000-R200 000 R200 000-R300 000 R300 000-R400 000 R400 000-R500 000 R500 000-R600 000 R600 000-R700 000 R700 000-R800 000 R800 000-R900 000 R900 000-R999 999 Above R1 000 000 (Ref. group)	−3.68 –2.48 –2.74 –1.63 –1.87 –0.62 –2.23 –1.72 0.14 0.87$0^{\mathrm{b}}$	0.78 0.67 0.68 0.66 0.70 0.75 0.83 0.80 1.25 1.25	22.57 13.68 16.25 6.06 7.20 0.69 7.20 4.66 0.01 0.48	1 1 1 1 1 1 1 1 1 1 0	0.00* 0.00* 0.00* 0.01* 0.01* 0.41 0.01* 0.03** 0.91 0.49	0.03 0.08 0.07 0.20 0.15 0.54 0.11 0.18 1.15 2.38
−2 Log likelihood 945. 604				p-value 0.000
Cox & Snell 0.237				McFadden 0.127
Nagelkerke 0.269

*Significant at 1% level, **Significant level at 5%, ***Significant at 10%