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financial well-being
Also known as: financial well-being, financial wellness, financial wellbeing
Facts (26)
Sources
The Emotional Wallet: A Behavioral Analysis of Consumer Financial ... acr-journal.com Nov 10, 2025 8 facts
measurementEmergency savings increase financial well-being by up to 21%.
referenceVanguard published an article in 2025 titled 'Emergency savings may hold key to financial well-being'.
referenceXiao, J. J., Chen, C., & Chen, F. (2014) authored 'Consumer financial capability and well-being: Evidence from U.S. households' in the International Journal of Consumer Studies, 38(6), 593–601.
measurementHaving at least $2,000 in emergency savings improves an individual's financial well-being by 21%, according to 2025 research by Vanguard.
claimConsumers' financial well-being is influenced by emotions such as stress, confidence, and insecurity, in addition to income and assets.
claimEmotions play a key role in how individuals manage money, and addressing these emotional factors can assist people in making better financial decisions and improving overall financial well-being.
claimSocio-demographic factors including age, income, education, and gender influence how individuals perceive their financial well-being, with younger people often experiencing higher stress due to debt and lower savings, according to Xiao, Chen, and Chen (2014).
referenceFinancial literacy and savings are recognized as important factors in shaping financial well-being.
The Psychological Drivers of Financial Decision-Making - ijsrm ijsrm.net 4 facts
claimCognitive biases, the framing effect, emotions, self-signaling, and self-control in money management are psychological factors that can either negatively impact or improve financial wellness.
claimThe research article 'The Psychological Drivers of Financial Decision-Making' analyzes how cognitive biases, the framing effect, emotions, self-signaling, and self-control impact financial choices and can either improve or harm financial wellness.
referenceDrever et al. (2015) argue that executive function, financial socialization, and experience-based learning are foundational to financial well-being in childhood and youth.
claimDrever et al. (2015) identify executive function, financial socialization, and experience-based learning as foundational elements of financial well-being in childhood and youth.
Analysing the behavioural, psychological, and demographic ... - OUCI ouci.dntb.gov.ua 3 facts
claimVosylis studied the short-term longitudinal associations between perceived features of emerging adulthood, financial behaviors, and financial well-being.
referenceTahir's study, 'Financial literacy and financial well-being of Australian consumers: a moderated mediation model of impulsivity and financial capability', uses a moderated mediation model to analyze the relationship between financial literacy, impulsivity, financial capability, and well-being in Australian consumers.
referenceBrüggen authored the paper 'Financial well-being: a conceptualization and research agenda,' published in Journal of Business Research, issue 79, page 228.
Understanding Behavioral Aspects of Financial Planning and Investing financialplanningassociation.org Mar 1, 2015 1 fact
claimInvestors often fear making costly mistakes that could negatively impact their present and future financial well-being.
Financial Literacy: The Guide to Managing Your Money - Annuity.org annuity.org 1 fact
claimThe National Disability Institute provides financial empowerment resources for people with disabilities, including financial education, capability, and financial wellness resources.
Mind Over Money: Behavioral Economics and Financial Decision ... linkedin.com Dec 9, 2024 1 fact
claimUnderstanding behavioral economics insights can help individuals improve financial literacy, make better investment choices, and enhance overall financial well-being.
The Role of Taxation in Family Inequality: Possibilities for Reform ncfr.org Dec 20, 2024 1 fact
referencePilkauskas, N., Michelmore, K., Kovski, N., & Shaefer, H. L. (2022) published 'The effects of income on the economic wellbeing of families with low incomes: Evidence from the 2021 Expanded Child Tax Credit' as a National Bureau of Economic Research Working Paper, which analyzes the economic impact of the 2021 Expanded Child Tax Credit.
4 Points of Personal Finance barnumfinancialgroup.com Sep 9, 2024 1 fact
claimProactively enhancing personal finances creates a stable foundation for long-term financial well-being according to Barnum Financial Group.
Behavioral Economics: Everyday Biases That Shape Money Choices verifiedinvesting.com 1 fact
claimGovernment and corporate entities may expand the use of choice architecture to shape default options in ways that align with long-term financial well-being.
Revision Notes - The role of government in reducing inequality | IB DP sparkl.me 1 fact
claimGovernments can use behavioral economics to design policies that redistribute income and encourage behaviors promoting long-term economic well-being by leveraging cognitive biases and heuristics.
Factors that can affect financial decision-making - North American northamericancompany.com Dec 14, 2024 1 fact
claimFamily members' advice and expectations regarding career choices or financial success can impact an individual's financial decisions and views on financial wellness.
Examining Behavioural Aspects of Financial Decision Making - OUCI ouci.dntb.gov.ua 1 fact
claimFuture research areas in financial literacy include the level of financial literacy among small- and medium-sized enterprises (SMEs) globally, the effectiveness of targeted interventions for SMEs, the role of SMEs in domestic violence policies, factors influencing SME planning processes, and the promotion of global equality and financial well-being.
6 Core Areas of Personal Finance | CEE councilforeconed.org Aug 2, 2023 1 fact
claimFinancial wellbeing can be improved by making well-informed spending decisions, which involves critically evaluating price, quality, product information, and the method of payment.
Navigating market and political uncertainties in the age of energy ... brookings.edu Mar 11, 2025 1 fact
claimEnergy affordability serves as a bellwether for economic well-being, and significant fluctuations in energy prices negatively impact both consumers and businesses, as well as the approval ratings of elected officials.