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Researchers have extensively investigated the relationship between employees’ well-being and their financial stress. The state of one’s finances can have an impact on them both directly and indirectly, depending on their organisation and employer. Employees’ job performance will be affected by their level of financial well-being, whether it is high or low. This study’s primary goal is to examine and objectively assess the employee of the tourism industry in India’s financial well-being (FWB). The analysis included 190 respondents from the travel and tourism sector. The instrument for this study was a questionnaire based on descriptive statistics and inferential statistics of one-way ANOVA and correlation analysis. Financial stress and financial well-being were significantly inversely correlated among the employee of tourism industries in India according to Pearson correlation analysis. The study’s findings showed that there was a significant difference between the financial well-being and demographic status of tourism industries employee. The results of this study, which relied on primary data could help the government develop policies to encourage greater and better financial well-being among participants in the tourism business.

Financial well-being has gained increased attention in research, policy and the financial sector. The authors contribute to this emerging field by drawing attention to the bottlenecks in financial well-being research and proposing ways for transforming and advancing it.

The authors conducted a semi-systematic review of the latest 120 financial well-being studies from both academic and grey literature and analyse the current issues in defining, conceptualising and measuring it.

The authors identify the need for a more human-centred approach across content and methodology, conceptualisation and operationalisation, research and practice, that focusses on how individuals experience, interpret and assess financial well-being. The authors highlight the lack of evidence-based interventions for improving financial well-being.

The authors propose applying design science approach for redefining the problems that individuals need help in solving and for developing and testing interventions that improve financial well-being and are in line with individuals’ needs and aspirations. The authors also call for international qualitative research into the human perspective of financial well-being.

Financial well-being has a significant role in mental health and well-being; therefore, it affects the lives of individuals and societies far beyond financial affairs. Change of perspective can lead to evidence-based interventions that better the lives of many, reduce inequality and develop more balanced communities.

The authors argue that the human dimension has been assumed in financial well-being research, practice and police, rather than confirmed, based on flawed assumptions that what people experience is already known.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2022-0741

The United Nation's 2030 mission provides scholars, practitioners and governments with a valuable framework to direct their research in a way that tackles societal issues. Towards this aim, some key Sustainable Development Goals focus on improving the well-being of humans and societies; however, the literature dealing with individual financial well-being is still underdeveloped and fragmented. To address this significant research gap, this paper reviews the literature on financial well-being. It provides an in-depth analysis of different theories, mediators and moderators employed in financial well-being studies to deepen the theoretical framework and widen the scope of financial well-being research.

Using the Web of Science Core Collection database (WoS), the literature on financial well-being was reviewed (n = 32) following a systematic review approach.

Findings revealed that (a) there is a limited application of theories in financial well-being studies (n = 19) with the majority of studies (n = 15) employing only one theory; (b) twenty-one different theories were used with the maximum number of theories employed by any study was four; (c) the theory of planned behavior was the most commonly used (n = 4); (d) While a reasonable number of studies examine mediators and moderators in antecedents-financial well-being relationships, studies examining mediators and moderators relationships in financial well-being-outcomes relationships are limited. Based on these findings, this review identified a need for future theory-based financial well-being research and examining the role of underlying and intervening mechanisms in antecedents-financial well-being-outcomes relationships.

The study concludes by suggesting some relevant theories and prospective variables that can explain potential financial well-being relationships. To the best of the author's knowledge, this is the first review on the use of theories, mediators and moderators in financial well-being studies.

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.

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.

This study aimed to investigate the mediating role of financial attitude and perceived behavioral control with financial behavior in the association between excessive use of social networking sites (SNSs) and financial well-being among working millennials.

A crossed-sectional survey was used to obtain data through a self-administered questionnaire. A total of 485 working millennials (M age = 32.28, years, SD age = 4.75) in Malaysia participated in the study based on a purposive sampling technique. Covariance-based structural equation modeling (CB-SEM) was used to evaluate the measurement model and the proposed serial mediation model.

The findings of this study revealed that excessive use of SNS is negatively associated with financial well-being. Also, the findings suggested that financial attitude and perceived behavioral with financial behavior serially mediated the negative relationship between excessive use of SNS and financial well-being, respectively.

Several implications were suggested and discussed to prevent the negative impact of excessive SNS use on financial well-being among young working adults. Policymakers and financial service providers (e.g. banks) can draw from the findings by constantly framing and delivering their messages to increase the young working adults' awareness of pitfalls of excessive use of innovative technologies on their financial attitudes and self-control over their behaviors and financial well-being.

This study entails some new insights on examining the impact of excessive use of SNS on working millennials' financial well-being as well as the underlying mechanisms behind this phenomenon.

Although overall well-being is a well-studied phenomenon, financial well-being only recently has attracted scholars’ attention. Accordingly, this study aimed to understand the relationship between financial well-being, its predictors (financial status, financial behaviour, financial knowledge and financial attitudes) and overall well-being.

The authors collected data from 262 working adults.

The results showed that only financial status was positively related to financial well-being and the latter was positively related to overall well-being. It was also found that financial well-being mediated the relationship between financial status and overall well-being. In sum, these results showed a multidisciplinary concept of overall well-being and that individuals tend to prioritize financial security over the other components.

The cross-sectional nature of the data is a limitation.

Practically speaking, this research is relevant because it highlights the evidence of financial status as an important influence on financial well-being, as well as the role of household income in individuals’ financial satisfaction.

The study addresses a call for research on the relationship between financial well-being, its main predictors and how these contribute to explain overall well-being.

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.

The purpose of this paper is to investigate the financial well-being of often-neglected group in the society. The authors examined the role of risk management and social capital in the financial well-being of the retirees in Nigeria.

A quantitative method of research is used with a six-point Likert scale questionnaire. A survey was conducted to 376 retirees from public organizations to determine the perception of their financial well-being in post-retirement era. The sample population is selected using the simple random sampling technique. An exploratory factor analysis, confirmatory factor analysis and structural equation modeling are used to analyze the data.

The results indicate that both risk management and social capital are significant predictors of retirees’ financial well-being in the Nigeria context. All respondents have a good education background.

This study focused on retirees who have worked in public organizations in Nigeria. Thus, it is likely that the results may not be generalized to other settings. The results show that to promote financial well-being among retirees, the focus should be put mainly on individual risk management and maintaining good social capital.

The present study is first of its kind that focuses on contributory role of risk management and social capital in influencing the financial well-being of retirees in Nigeria. Findings make a novel contribution to retirees’ financial well-being literature by clarifying the significant role played by risk management and social capital in promoting the financial well-being of retirees in a developing country, specifically in Nigeria.

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.