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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.

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.

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 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

Drawing from the combined theoretical approaches of the conservation of resources theory, broaden-and-build theory of positive emotions and social cognitive theory, the current study examined the relationships between employee financial well-being and employee productivity via employee happiness while exploring the moderating role of gender in this mediated relationship.

Using partial least squares approach for structural equation modeling, the hypothesized model was tested employing primary data collected from banking employees.

The results showed that employee financial well-being has a significant positive effect on employee productivity and this effect was mediated by employee happiness. In addition, the results showed that this indirect effect was moderated by gender such that the relationship was more pronounced in males (versus females).

This study contributes to the nescient research on the consequences of financial well-being especially at an organizational level, with several implications for individuals, employees and organizations, while at the same time offering new insights for future investigation.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-09-2023-0676

Many individuals start a new firm each year, mainly intending to become independent or improve their financial situation. For most of them, the first years of operations mean a substantial investment of time, effort and money with highly insecure outcomes. This study aims to explore how entrepreneurs running new firms perform financially compared with the established ones and how this situation influences their well-being.

A questionnaire survey was completed in 2021 and 2022 by a representative sample of N = 1136 solo self-employed and microentrepreneurs in the Czech Republic, with dependent self-employed excluded. This study used multiple regressions for data analysis.

Early-stage entrepreneurs are less satisfied with their financial situation, have lower disposable income and report more significant financial problems than their established counterparts. The situation is even worse for the subsample of startups. However, this study also finds they do not have lower well-being than established entrepreneurs. While a worse financial situation is generally negatively related to well-being, being a startup founder moderates this link. Startup founders can maintain a good level of well-being even in financial struggles.

The results suggest that policies should focus on reducing the costs related to start-up activities. Further, policy support should not be restricted to new technological firms. Startups from all fields should be eligible to receive support, provided that they meet the milestones of their development. For entrepreneurship education, this study‘s results support action-oriented approaches that help build entrepreneurs’ self-efficacy while making them aware of cognitive biases common in entrepreneurship. This study also underscores that effectuation or lean startup approaches help entrepreneurs develop their startups efficiently and not deprive themselves of resources because of their unjustified overconfidence.

This study contributes to a better understanding of the financial situation and well-being of founders of new firms and, specifically, startups. The personal financial situation of startup founders has been a largely underexplored issue. Compared with other entrepreneurs, this study finds that startup founders are, as individuals, in the worst financial situation. Their well-being remains, however, on a comparable level with that of other entrepreneurs.

The prime purpose of the study is to analyse the effect of fintech adoption on the financial well-being of persons with disabilities (PWDs), considering the intervening role of financial behaviour, financial access and financial knowledge.

A self-administered survey schedule collected primary data on fintech adoption and financial well-being among 205 PWD, through snowball sampling from January to May 2023. Researchers used exploratory factor analysis to identify reliable factors and PLS-SEM for testing mediation and research hypotheses.

The study’s outcome found that fintech adoption does not directly impact the financial well-being of PWDs. Instead, the impact on financial well-being is explained by mediating factors like financial access, financial knowledge and financial behaviour. Financial access is the most significant among these mediating factors.

The study demonstrates the significance of mediating factors in comprehending the influence of fintech adoption on financial well-being. These results underpin existing literature on determinants of financial well-being.

Findings evidenced that developing disabled-friendly fintech tools can enhance financial access, reduce inequality and improve the financial well-being of PWDs, which would be helpful for public policymakers.

There has been no comprehensive study conducted on this topic, particularly among PWDs. In the current study, an effort is being made to examine the relative effects of fintech adoption on financial well-being directly and indirectly through mediating variables.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-08-2023-0596

This study aims to examine the relationship between objective and subjective aspects of financial well-being, the role of family financial support and depression symptoms of Chinese older adults.

This study used two waves (2015 and 2018) of the Harmonized China Health and Retirement Longitudinal Study. Two financial ratios: the expenditure-to-income ratio and the financial assets ratio, were used to measure the objective aspect of financial well-being. Perceived money management difficulty was employed to measure the subjective aspect of financial well-being. Depression symptoms were measured using the Center for Epidemiologic Studies Depression Scale (CES-D) score. Three analytical models, including an ordinary least squares (OLS) model, an OLS model controlling for lagged depression and a random effects model using panel data, were used to examine the relationships between the objective and subject aspects of financial well-being and depression.

The results from the three models showed consistent relationships: the expenditure-to-income ratio was a positive contributor, while the financial assets ratio was a negative contributor to depression of older adults in China. The robustness check using binary-coded financial ratio thresholds showed that reaching the suggested thresholds was negatively associated with depression. Perceived money management difficulty contributed positively to depression. The robustness check using the fixed effects model showed no significance of the two ratios, while perceived money management difficulty was positively associated with depression. The insignificance might be due to data limitation (limited waves or rare changes across waves).

The findings indicate that both objective and subjective financial well-being matters in relation to depression symptoms and, therefore, to the overall mental health of the Chinese elderly. Developments in public policies are needed to promote accessible financial services, assistance programs, mental health services and facilities for the older population in China.

This paper aims to examine the influence of religious backgrounds and religiosity on three dimensions of household finance (the decision to hold secured debt, the likelihood of being in a state of financial distress and the likelihood of being in a state of financial well-being) across a large sample of European countries.

The study uses data from the European Union Statistics on Income and Living Conditions (EU-SILC) data set, spanning from 2004 to 2018. The authors conduct regression analysis to examine the relationship between religion and household financial choices.

The study finds that belonging to a predominantly Catholic or Orthodox (Protestant) country is negatively (positively) associated with the likelihood of holding a mortgage. Belonging to a mostly Catholic (Protestant) country is negatively (positively) associated with the likelihood of being in a state of financial distress. Belonging to a predominantly Catholic (Protestant) country is positively (negatively) associated with the likelihood of being in a state of financial well-being. These relationships remain robust after controlling for a large number of demographic and economic variables.

In this paper, the authors analyze for the first time the impact of religion on household finance in a wide range of European countries. It is also the first time that the EU-SILC database, which aggregates data on more than three million European households, is used for the study of this topic.