Wednesday 22 July 09:50
- 11:20
Hall: 12 - Polveriera
Chair and Presenter:
Riitsalu Leonore
Division: Division 9: Economic Psychology
There is a groundswell of research into financial well-being in academic and grey literature, and the financial sector is focusing on financial health instead of financial literacy initiatives these days. Yet much of it is based on assumptions, such as the belief that higher financial literacy and availability of financial services automatically leads to its improvement. Much of the existing research is based on uni-dimensional measures developed in English-speaking countries and tested in developed countries only. In this session, we present studies that use multi-dimensional measures validated in several languages and in samples from developed and developing countries. We prompt to think of what the psychological antecedents and influencers of financial well-being are and expand the current discussions that tend to focus solely on financial factors. We also discuss the role of gender in financial well-being assessment and the complexity of pension decisions.
