Financial satisfaction has became an important component in measuring people's overall happiness. Objective factors such as income and wealth have been shown to lack full explanatory power when dealing with perceptions of satisfaction in the financial arena. This paper examines the relationship between subjective and objective financial knowledge as factors in a self-reported financial satisfaction item from the 2009 FINRA National Financial Capability Study. Proportional odds models are used to discover a positive correlation between subjective knowledge and financial satisfaction. Conversely, objective financial knowledge (from a right/wrong financial literacy quiz) is found to have a negative association with financial satisfaction. Further robustness checks and model fitting are introduced supporting the initial results. These findings can help explain some of the challenges encountered on financial literacy programs & interventions such as low take-up rates and inability to unveil the desired outcomes.