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Exploring financial well-being of working professionals in the Indian context
Attainment of financial well-being is vital for individuals. Financial well-being further leads to satisfaction and happiness, which results in the overall well-being of an individual. Financial behavior and well-being assume greater importance in crises such as the COVID-19 pandemic. This study tes...
Autores principales: | , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Palgrave Macmillan UK
2023
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10019387/ http://dx.doi.org/10.1057/s41264-023-00215-x |
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author | Bhatia, Shikha Singh, Sonali |
author_facet | Bhatia, Shikha Singh, Sonali |
author_sort | Bhatia, Shikha |
collection | PubMed |
description | Attainment of financial well-being is vital for individuals. Financial well-being further leads to satisfaction and happiness, which results in the overall well-being of an individual. Financial behavior and well-being assume greater importance in crises such as the COVID-19 pandemic. This study tests how working professionals’ financial knowledge and attitude in a developing country relate to their financial well-being. The emphasis of the study is on determining the mediating effects of financial behavior. The study finds that financial knowledge alone may not result in an individual’s financial well-being, and the relationship is mediated by financial behavior. This implies that acquiring knowledge and a positive financial attitude are important in the quest to attain financial well-being, but adopting healthy financial behavior is most important. |
format | Online Article Text |
id | pubmed-10019387 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2023 |
publisher | Palgrave Macmillan UK |
record_format | MEDLINE/PubMed |
spelling | pubmed-100193872023-03-16 Exploring financial well-being of working professionals in the Indian context Bhatia, Shikha Singh, Sonali J Financ Serv Mark Original Article Attainment of financial well-being is vital for individuals. Financial well-being further leads to satisfaction and happiness, which results in the overall well-being of an individual. Financial behavior and well-being assume greater importance in crises such as the COVID-19 pandemic. This study tests how working professionals’ financial knowledge and attitude in a developing country relate to their financial well-being. The emphasis of the study is on determining the mediating effects of financial behavior. The study finds that financial knowledge alone may not result in an individual’s financial well-being, and the relationship is mediated by financial behavior. This implies that acquiring knowledge and a positive financial attitude are important in the quest to attain financial well-being, but adopting healthy financial behavior is most important. Palgrave Macmillan UK 2023-03-16 /pmc/articles/PMC10019387/ http://dx.doi.org/10.1057/s41264-023-00215-x Text en © The Author(s), under exclusive licence to Springer Nature Limited 2023, Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic. |
spellingShingle | Original Article Bhatia, Shikha Singh, Sonali Exploring financial well-being of working professionals in the Indian context |
title | Exploring financial well-being of working professionals in the Indian context |
title_full | Exploring financial well-being of working professionals in the Indian context |
title_fullStr | Exploring financial well-being of working professionals in the Indian context |
title_full_unstemmed | Exploring financial well-being of working professionals in the Indian context |
title_short | Exploring financial well-being of working professionals in the Indian context |
title_sort | exploring financial well-being of working professionals in the indian context |
topic | Original Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10019387/ http://dx.doi.org/10.1057/s41264-023-00215-x |
work_keys_str_mv | AT bhatiashikha exploringfinancialwellbeingofworkingprofessionalsintheindiancontext AT singhsonali exploringfinancialwellbeingofworkingprofessionalsintheindiancontext |