Financial well-being: A conceptualization and research agenda
Elisabeth C. Brüggen,
Sertan Kabadayi and
Journal of Business Research, 2017, vol. 79, issue C, 228-237
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)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
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 Haili He ().