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The purpose of this paper is to study how subjective and objective knowledge of finance, behaviour in managing personal finances and socio-economic status affect financial well-being.

The financial well-being score is constructed in quantitative financial literacy survey data from Estonia as the arithmetic mean of four statements on a five-point scale. Four hypotheses are tested in multiple regression analysis.

Subjective knowledge has a stronger relation with financial well-being than objective knowledge. Financial behaviour score and income level correlate with financial well-being.

The paper contributes to literature on financial literacy, subjective financial knowledge and financial well-being. In future research, psychological factors and future orientated financial well-being should be included, and their relationship to subjective well-being could be analysed further.

The results highlight the importance of subjective knowledge and sound behaviour for improving financial well-being. Providers of financial services should address these more in the design of their services and communication.

Policymakers developing national strategies for financial education need to address subjective financial knowledge for increasing financial well-being in society.

Knowledge, behaviour and subjective knowledge have not been used simultaneously in the analysis of financial well-being in Europe before.

The purpose of this paper is to explore the role of banks in enhancing consumer knowledge aiming to increasing customer’s financial well-being.

This research applied two quantitative studies with customers of banks in a Latin American country. The literature review and the results of the data analysis founded the development of a model that relates bank information transparency and subjective financial well-being through consumer financial knowledge.

By being transparent banks may transform the financial well-being of their customers. Particularly, this paper shows that consumer financial knowledge mediates the relationship between bank information transparency and the subjective financial well-being of individuals. However, the mediational effect occurs by subjective but not objective financial knowledge.

The mediational model of this research does not take in consideration the role that individual factors play in the exposition and processing of the information provided by banks and its final impact on the subjective well-being of individuals. Also, this paper does not explore potential moderators of the theoretical relationships neither include cultural variables in the analysis.

Firm transparency has been related to various constructs in the marketing literature; however, its impact on consumer financial well-being is under-researched. This paper shows that companies need to aim to increase the subjective financial knowledge of their customers as a way to improve ultimate well-being of their customers.

The study investigated the relationship between future time perspective and financial well-being among Chinese working millennials and its serial mediators, such as financial goal clarity, subjective financial knowledge and responsible financial behaviour, to foster consumer resilience in the financial realm.

A total of 526 Chinese working millennials (Mage = 31.78) participated in the online survey in response to questions on demographic characteristics and items to measure the variables adopted in the research model. Covariance-based structural equation modelling (CB-SEM) and AMOS version 27 were used to test the research hypotheses.

The results revealed a positive correlation between future time perspective and financial well-being. Moreover, the results showed that financial goal clarity, subjective financial knowledge and responsible financial behaviour serially mediated the correlation between future time perspective and financial well-being.

The findings provide implications for companies and policymakers to refine their intervention programmes to boost young millennials' future time perspectives in reinforcing their financial knowledge and financial goal clarity which in turn fosters their responsible financial behaviour in contributing to financial well-being in boosting their overall consumer resilience. Future studies should deepen the way in which the studied factors are leveraged as a tool to improve individuals' resilience in the economic realm.

The findings of this study shed light on the underlying mechanisms that drive and promote the financial well-being of Chinese working millennials.

Bike sharing becomes suddenly hot up in China since the end of 2016. However, few studies have focused on shared bicycle users’ behavior. To fill this research gap, this paper aims to develop an integrated model to investigate factors that affect shared bicycle users’ subjective well-being.

A field survey with 220 shared bicycle users is conducted to test the research model and hypotheses.

The highlights are that perceived value has positive effect on users’ life satisfaction. Specially, it is interesting to find that hedonic value has the greatest impact on users’ life satisfaction, followed by social value and utilitarian value. Perceived risks which including privacy risks, financial risks and functional risks act as a moderating role between perceived value and users’ life satisfaction.

First, the authors clear factors that affect users’ subjective well-being from the perspective of perceived value. The results deepen our understanding about the effect of perceived value on users’ subjective well-being. Second, the current researches have ignored the effect of perceived risks on users’ subjective well-being. The authors filled that gap and found that perceived risks which including privacy risks, financial risks and functional risks act as a moderating role between perceived value and users’ subjective well-being.

This study aimed to assess the impact of psychological beliefs (subjective financial knowledge, financial attitude and locus of control) on financial well-being, as well as the mediating role of financial behaviour in the relationship between psychological beliefs and financial well-being among working adults in Malaysia.

A survey-based questionnaire was used to elicit information from a total of 500 working adults from Malaysia. Partial least squares structural equation modelling (PLS-SEM) was used to assess the measurement model and the proposed mediation model.

The results showed that subjective financial knowledge, financial attitude and locus of control have a positive impact on both financial behaviour and financial well-being. The results also showed that financial behaviour mediates the relationships between financial attitude and financial well-being, as well as between locus of control and financial well-being.

Given the anticipated global economic recession, a better understanding of how individuals manage their finances becomes ever more crucial. The findings from this research inform policymakers, practitioners and academics on the importance of psychological factors and financial management practices on financial well-being, addressing an identified gap in the current literature.

Achieving financial well-being is essential for individuals, families and countries as it leads to life satisfaction and happiness. This study synthesizes and identifies financial well-being’s key areas and dimensions using a blended systematic literature review and bibliometric analysis approach.

The authors systematically study a sample of 467 articles from the Scopus database to identify the research trend regarding financial well-being during the last 25 years (1997–2021). Various graphs and networks are presented to understand the publication trends, influential papers, conceptual and intellectual structures and research collaboration status.

Four clusters in the field of financial well-being were found: conceptualization and antecedents of financial well-being, financial well-being of young adults, the relationship between financial literacy and financial well-being and consequences of financial well-being. Further, emerging themes in financial well-being were identified with a content analysis of the papers published during the last five years.

This study will help financial planners, regulatory bodies and academic researchers in getting a better understanding of financial well-being and in identifying potential areas for future research.

Prior to this study, no such comprehensive bibliometric analysis on financial well-being has been carried out to the best of the authors' knowledge. This gap motivated the authors to combine quantitative and qualitative methods to review the published research and do a content analysis, to identify prominent authors and publications.

Measurement of financial well-being has remained a challenge for the governments for a long time. This paper responds to this challenge by taking an integrative approach, whereby the previous conceptualizations of financial well-being are examined. Further, we propose a new conceptualization of financial well-being using the parameters of objective and subjective well-being.

We conduct a widespread review of the literature with regard to the linkage between financial literacy and financial capability.

Numerous studies report the pertinent role of behavioural economics in rational decision making. This paper understands the role of behavioural economics in regard to financial well-being.

Empirical investigation in measuring the linkage between financial literacy and financial capability needs to be developed to achieve the goal of financial well-being.

This paper makes a noble contribution to the literature by proposing a new conceptualization of financial well-being spread over financial literacy, financial capability and psychological factors.

The purpose of this paper is to empirically explore the financial well-being (FWB) of Malaysian households and to construct a subjective FWB index with present and future time perspectives.

Data were collected from 1,867 respondents across five major regions in Malaysia. Adapting the InCharge Financial Distress/Financial Well-being (IFDFW) Scale by Prawitz et al. (2006) and the method of computing an index by Devlin (2009), this study develops an FWB index using subjective measures that include future time perspectives (retirement). The index was employed to measure the FWB across low-, middle- and high-income groups and socio-demographic characteristics.

This study finds evidence that Malaysians' FWB is at an average level (46.8). Middle-income households' FWB (46.1) flanks between the financial well-being index (FWBI) levels of the low-income (37.4) and high-income households (58.7). Across age groups, education levels and employment sectors, the FWB of Malaysians significantly varies, although not across different ethnics, religions, zones and residential areas. Overall, the results suggest that the detrimental effects of FWB are perceived by all Malaysian households nationwide regardless of their religion, ethnicity and residential areas.

The results of this study complement the other well-being indices used by policymakers and may serve as a useful input for government and policymakers for them to formulate appropriate strategies to promote higher FWB of Malaysian households based on their socio-demographic characteristics.

This study used primary data and developed a subjective FWB index that leverages on people's perceptions of their own financial well-being while including present and future time perspectives. The main contribution of this paper is to construct an index that is easily interpretable and that complements the existing FWB indices, and to identify the segments of society that have low vis-à-vis high FWB.

The purpose of this paper is to explore potential benefits of gamification (application of game-playing elements) for financial well-being and motivation to save.

A preliminary survey of college students explored how gamification principles incorporated into money-savings/personal finance smartphone apps could improve financial well-being. The main study utilized Mechanical Turk participants, exposing them to financial game app descriptions that emphasized social features (e.g. leaderboards and ability to share achievements) or economic features (e.g. ability to earn real money or a higher interest rate). Objective and subjective financial measures including expertise with financial apps, perceived benefits of financial apps and behavioral intentions were examined.

Financial worry, financial literacy, subjective knowledge and expertise with money-savings/financial applications predicted financial well-being. Additionally, consumers varied in their preferences for certain financial game app features based on past financial app experience. Those who already used a financial app tend to exhibit higher subjective (though not objective) knowledge, and want both “social” and “economic” features of financial applications, whereas those with no experience are more motivated by economic features.

These results could be used to guide game designers regarding which features may be more attractive to consumers depending on their prior expertise with financial smartphone applications. Financial services marketing would benefit from further research into whether smartphone financial applications that emphasize social features have benefits for consumers’ motivation and financial well-being.

Examining college students about to enter the real world and the general population, this project contributes to research to improve understanding of financial well-being by examining how already having a financial gamification application impacts perceptions of knowledge and expertise, as well as intentions to save given a more socially focused vs economically focused savings app. Additional research needs to further explore gamification as an experimental intervention to ultimately improve both subjective financial well-being and objective financial behaviors, especially for consumers with lower expertise and high risk of financial vulnerability.

Financial well-being among young adults is an emerging and important field of research. This study aims to shed light on the current insights and future directions for young adults’ financial well-being research.

A systematic review was performed using (1) the Preferred Reporting Items for Systematic Reviews and Meta-Analyses protocol to curate the corpus and (2) the bibliometric-content analysis technique to review that corpus on young adults’ financial well-being research.

Young adults’ financial well-being is influenced by contextual factors such as changes in macroeconomic environment, market factors, technological advancement and financial social comparisons, as well as personal factors such as sociodemographics, personality traits and values, skills and attitudes, financial practices, financial socialization, lifestyles and early life experiences, and subjective financial situation and mental health. Noteworthily, interest in this field is growing with a plethora of journals, countries, authors, theories, methods and measures.

Several noteworthy gaps exist in the literature on young adults’ financial well-being, which include the lack of international collaboration, the lack of interventions to improve young adults’ financial well-being, the limited range of theoretical lenses, the limited consensus on measuring young adults’ financial well-being, the limited understanding of contextual factors, and the inconsistencies between personal factors and young adults’ financial well-being. Potential ways forward are proposed to address these gaps.

This review contributes to a seminal synthesis of young adults’ financial well-being research, providing both retrospective insights and prospective ways forward.