Financial knowledge and socialization impact satisfaction and risk-taking behaviors significantly.
The study looked at how financial knowledge and upbringing affect how satisfied people are with their finances. They surveyed 384 investors in Tehran and found that knowing more about finances and being taught about money growing up can influence how willing people are to take financial risks and how they behave with their money. The study also found that people's attitudes towards risk and their financial behavior can impact how satisfied they are with their finances. Financial knowledge directly affects financial satisfaction, while financial socialization has an indirect effect.