Synonyms
Definitions
Financial wellbeing is a relatively emergent concept in financial inclusion discourse. While definitions vary slightly, they align in that they seek to identify someone’s ability to manage day-to-day finances; their resilience to recover from shocks; their ability to plan and meet future financial goals; and the degree in which they have the freedom to make choices that enable them to live an enjoyable life (Kempson et al. 2017; Rhyne 2020). There are strong similarities between the term financial wellbeing and financial health, and they can be used interchangeably in most settings (Rhyne 2020).
Financial wellbeing is not a binary state where someone can either possess or not possess financial wellbeing. Someone may have a high level of financial wellbeing and then experience a drop in financial wellbeing when they experience an unexpected event like a job loss. It is a state of being, represented along a spectrum that people move along at...
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Collier, T. (2020). Gender and Financial Wellbeing. In: Leal Filho, W., Azul, A., Brandli, L., Lange Salvia, A., Wall, T. (eds) Gender Equality. Encyclopedia of the UN Sustainable Development Goals. Springer, Cham. https://doi.org/10.1007/978-3-319-70060-1_112-1
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