EconPapers    
Economics at your fingertips  
 

Financial well-being: A conceptualization and research agenda

Elisabeth C. Brüggen, Jens Hogreve, Maria Holmlund, Sertan Kabadayi and Martin Löfgren

Journal of Business Research, 2017, vol. 79, issue C, 228-237

Abstract: With savings rates at record lows and inadequate long-term financial planning for retirement, financial well-being has become an important topic for individuals and households as well as for societies and countries. Research on the topic, however, remains scarce and scattered across disciplines. The present paper aims to consolidate and extend knowledge on financial well-being and makes a three-fold contribution to the discussion. First, we propose a new definition based on a perceptual perspective of financial well-being and link it to an individual's current and anticipated desired living standard and financial freedom. We then develop a framework that distinguishes key elements of financial well-being; namely, interventions and financial behaviors, consequences, contextual factors, and personal factors. We then present a research agenda to guide future research on financial well-being. This work is designed to inspire researchers to continue expanding the knowledge so that financial institutions can take measures to increase financial well-being.

Keywords: Financial well-being; Transformative service research; Service research; Consumer financial decision making; Financial services (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0148296317301005
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:79:y:2017:i:c:p:228-237

Access Statistics for this article

Journal of Business Research is currently edited by A. G. Woodside

More articles in Journal of Business Research from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2018-06-02
Handle: RePEc:eee:jbrese:v:79:y:2017:i:c:p:228-237