See the below image for the Financial wellbeing framework diagram. A conceptual framework was proposed in this study to provide a broad understanding of financial well-being, by examining financial perceptions and knowledge factors, financial stress, and the interplay among individual financial behaviors, and financial satisfaction.
Financial well-being comes with a deeper understanding of where you stand with money, emotionally and financially, developing concise and attainable goals, getting organized and implementing a manageable plan to move forward.
There is no specific financial amount that someone must have in their bank account to be considered financially well. Instead, the definition of financial wellbeing is closely tied to a person’s own sense of financial stress and financial confidence. Financial Wellbeing occurs when people feel calm, secure and tranquil from a financial perspective.
Financial wellbeing framework image
