Subjective Financial Well-Being as Predictor of Post-Pandemic Health and Life Domains in a Middle-Income Country

Subjective financial well-being (SFWB) is a core component usually associated with health and life domains. The covid-19 pandemic contributed to the emergence of a global financial crisis that reduced the population's SFWB, especially in low and middle-income countries. This study aims to investigate (1) whether post-pandemic (2022-2023) SFWB predicts current health and life-related outcomes status compared to the pandemic period (2020-2021) in a cross-sectional sample of 290 Brazilian adults, and (2) if SFWB is a better predictor of health and life-related outcomes than sociodemographic variables. We employ ordinal and multinomial logistic regressions to examine the predictive capacity that SFWB and sociodemographic variables have on health and life-related outcomes. The main findings indicate that for each unit increase in some SFWB dimension, there is an increase between 63% and 160% in the odds of adults reporting better health and life-related outcomes in the post-pandemic period when comparing themselves with the pandemic period. We also found that SFWB is a better predictor of 8 out of 10 health and life-related outcomes than sociodemographic variables. Furthermore, in the SFWB the dimension ‘having money’ was the best predictor, followed by the ‘money management’ domain. These findings reinforce the importance of assessing SFWB as a multidimensional construct and the need for interventions to enhance SFWB levels in the adult population. Implications of the results are discussed and instructions to guide professionals and policymakers on the consequences associated with fluctuations in SFWB levels are provided.