Mapping the literature on financial well‐being: A systematic literature review and bibliometric analysis

Kaur, Gagandeep; Singh, Manjit; Singh, Simarjeet

doi:10.1111/issj.12278

Cited by 34 publications

(41 citation statements)

References 127 publications

(283 reference statements)

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Over the last decade, financial well-being ( financial health , financial resilience ) has been gaining increasing attention (Kaur et al, 2021 ; Wilmarth, 2021 ). On the one hand, policy-makers have paid special attention to it since the outbreak of the COVID-19 pandemic (OECD, 2021 ).…”

Section: Introductionmentioning

confidence: 99%

“…Recent literature reviews have emphasised a lack of qualitative studies of financial well-being. Kaur et al ( 2021 , p. 235) call for “studies using qualitative approaches such as interviews to gain new perspectives on FWB .” Wilmarth ( 2021 , p. 129) suggests that “researchers could take advantage of qualitative methods to understand more about the personal aspects and experiences of financial and economic well-being.” Our goal is to fill this void by investigating the meaning of financial well-being in three qualitative studies, with a total sample size of 47 individuals. In the first study, we interviewed young people aged 17 to 23.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

From Security to Freedom— The Meaning of Financial Well-being Changes with Age

et al. 2023

View full text Add to dashboard Cite

Financial well-being is becoming more prominent in policy, research, and the financial sector. However, there is a lack of understanding of its meaning, and the vast majority of financial well-being research employs quantitative methods whereas recent literature reviews advocate for qualitative studies into the meaning of financial well-being and its associations with age. We contribute to that by conducting exploratory qualitative research into the phenomenon of perceived financial well-being and its components. It is based on three studies each of which used in-depth semi-structured interviews ( N = 47). The first key finding is that youth perceive financial well-being to be comprised of three components: keeping the current lifestyle and making ends meet; achieving desired lifestyle; and achieving financial freedom. In contrast, older groups distinguish only two: keeping and achieving the lifestyle in the present and in the future. The second finding is that the definition of financial freedom differs across age groups. Young people aspire to become financially independent, while middle-aged individuals prioritize supporting their children, and older people are afraid of becoming a financial burden. Third, regardless of age, many do not plan, save or invest for securing their financial well-being. We conclude by proposing implications for increasing financial well-being in different age groups, and suggesting paths for further investigation.

show abstract

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

From Security to Freedom— The Meaning of Financial Well-being Changes with Age

et al. 2023

View full text Add to dashboard Cite

show abstract

“…The vast majority of research studies examine the effects of various factors on a single financial well-being score as the dependent variable, even if they distinguish several components of financial well-being in their definition of it. In addition, the latest reviews of the financial well-being literature summarize the effects of various indicators on a unidimensional financial well-being construct, without distinguishing its components (Kaur, Singh, and Singh 2021; Nanda and Banerjee 2021; Warmath 2021; Wilmarth 2021). Very few papers use the components of financial well-being as separate dependent variables and analyze their antecedents (Netemeyer et al 2018; Ponchio, Cordeiro, and Gonçalves 2019).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

“…Financial well-being seems to increase with age (Collins and Urban 2020; Kaur, Singh, and Singh 2021) and seems to be higher in older cohorts (De Bruijn and Antonides 2020; Fu 2020), but it may have a U-shaped relationship with lower financial well-being in middle age groups (Riitsalu and Murakas 2019; Xiao and Porto 2017). In Mexico, older individuals have lower financial well-being (García-Mata, Zerón-Félix, and Briano 2022).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

See 1 more Smart Citation

Current and Future Financial Well-Being in 16 Countries

Riitsalu¹,

Raaij²

2022

Journal of International Marketing

View full text Add to dashboard Cite

Financial well-being – the evaluation of current personal finances and expectations for the financial future – has gained attention in research, practice, and policy. Yet, there is no consensus on its conceptualisation nor its operationalisation. We contribute to this by proposing its conceptual framework and reassessing a measure in data for subjective financial well-being from 16 countries. Our findings highlight methodological concerns in international marketing studies and show not only financial well-being but also its measures to be context dependent. Furthermore, many studies use unidimensional financial well-being measures while some conceptualisations show it to have at least two components, current and future element. We analyse the effects of individual and contextual factors on current and future financial well-being, and explore their possible interaction. We observe income to be a significant predictor of both components of financial well-being, while institutional settings are correlated with current and national culture with future financial well-being. We conclude that initiatives aimed at increasing financial well-being need to clearly target either its current or future component as their antecedents differ.

show abstract

Financial well‐being: An integrated framework, operationalization, and future research agenda

Garg,

Priyadarshi,

Malik

2024

J of Consumer Behaviour

View full text Add to dashboard Cite

Financial well‐being occupies a pivotal juncture between money and happiness, serving as fundamental components for favorable individual and organizational outcomes. The exponential growth in literature seeking to delineate its conceptualization, mechanisms, and enablers underscores its significance and implications. However, the varied scholarly contributions have also given rise to persistent discrepancies and a subjective‐objective dichotomy within the field, necessitating a comprehensive review. To address this gap, we conducted a thorough bibliometric analysis employing citation, co‐citation, and co‐occurrence techniques. Our study enriches the theoretical underpinnings by examining its thematic nuances, underlying nomological networks, and evolutionary trends. Specifically, our findings unveil a notable shift toward subjective evaluation shaped by temporal perspectives. Moreover, we discern an increasing influence of psychological variables in shaping individuals' subjective assessments of their financial well‐being, extending beyond traditional cognitive and objective dimensions. Additionally, our analysis underscores the pivotal role of financial socialization, highlighting the impact of social and environmental factors on subjective perceptions. These insights are encapsulated within our proposed operationalization, integrated framework, and future research direction.

show abstract

Mapping the literature on financial well‐being: A systematic literature review and bibliometric analysis

Cited by 34 publications

References 127 publications

From Security to Freedom— The Meaning of Financial Well-being Changes with Age

From Security to Freedom— The Meaning of Financial Well-being Changes with Age

Current and Future Financial Well-Being in 16 Countries

Financial well‐being: An integrated framework, operationalization, and future research agenda

Contact Info

Product

Resources

About