What is financial wellbeing?

There are several definitions of financial wellbeing, but all have similar elements. All are based on extensive research, and have supporting tools available that can help individuals measure their own financial wellbeing, as well as help organisations measure the impact of their financial wellbeing initiatives.

Financial wellbeing is the extent to which someone is able to meet all their current commitments and needs comfortably, and has the financial resilience to maintain this in the future. (ANZ 2021)

For more detail on measuring financial wellbeing, and how FIAP addresses systemic issues of financial wellbeing, refer to the Power to Persuade blog.