Personal financial wellness

Abstract

As the importance of financial health of individuals and families continues to grow, people often use the term financial wellness to mean the level of a person's financial health. Financial wellness is a comprehensive, multidimensional concept incorporating financial satisfaction, objective status of financial situation, financial attitudes, and behavior that cannot be assessed through one measure. This chapter discusses the concept and measurement of personal financial wellness and presents Financial Wellness Diagram. Future research directions are also discussed. © 2008 Springer Science+Business Media, LLC.