Consumption has a significant positive effect on LS and H, but is insignificant and negative for D. The coefficient on squared consumption is insignificant. Income is only significant (positive) for LS. Boes and Winkelmann (2010) find contradicting evidence, namely that income reduces dissatisfaction, but has no impact on satisfaction. Their findings can be explained by their interpretation of dissatisfaction and satisfaction. For them, dissatisfaction is a low value on the life satisfaction scale, whereas satisfaction is the positive end of the life satisfaction scale. Having distinct constructs for positive and negative well-being — as in this study —draws a more accurate picture. The consumption coefficient is about five times as large as the income coefficient. Stock ownership increases LS and H, whereas credit card debt lowersSWB. Home ownership has no significant influence on LS and H.