20 Health and Financial Well-Being
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Suzanne Bartholomae
Abstract
Financial well-being is an established correlate in the scholarship of general well-being or happiness as well as with health outcomes. A diverse set of disciplines produce empirical work on financial and health indicators. This work has established a strong intersection between these two domains. Both longitudinal and life span studies document the link between financial measures and health indicators. Theoretical frameworks help contextualize and predict financial wellbeing and its consequence for health. This chapter provides a brief review of the interlink and crossover between the domains of health and financial well-being.
Abstract
Financial well-being is an established correlate in the scholarship of general well-being or happiness as well as with health outcomes. A diverse set of disciplines produce empirical work on financial and health indicators. This work has established a strong intersection between these two domains. Both longitudinal and life span studies document the link between financial measures and health indicators. Theoretical frameworks help contextualize and predict financial wellbeing and its consequence for health. This chapter provides a brief review of the interlink and crossover between the domains of health and financial well-being.
Kapitel in diesem Buch
- Frontmatter I
- Contents V
- List of Contributors IX
- Preface XXI
-
Part I: Introduction to the Discipline of Personal Finance
- 1 Defining Personal Finance 1
- 2 Personal Finance: A Policy and Institutional Perspective 17
- 3 Personal Finance: A Practice Perspective 35
- 4 Personal Finance: An International Perspective 49
- 5 Theories of Personal Finance 67
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Part II: Saving, Investing, and Asset Management
- 6 Budgeting and Cash Flow Management 87
- 7 Patterns of Asset Ownership 101
- 8 Approaches to Saving 119
- 9 Financial Risk Tolerance 137
- 10 Accounting for Time When Saving and Investing 157
- 11 Household Financial Ratios 171
- 12 Income, Income Transfers, and Taxes 189
- 13 The Use of Credit in the Consumer Marketplace 205
- 14 Debt and Mortgage Choices 219
- 15 Considerations when Planning for Retirement 235
- 16 Generating Income in Retirement Using Systematic Withdrawal Strategies with Investments 255
- 17 Small Business Ownership: Impact of the Lack of Transparency and Separation on Small Business Finances 269
- 18 Applying Investing Theory to Practice 287
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Part III: Financial Security
- 19 The Role of Insurance as a Household Financial Management Tool 307
- 20 Health and Financial Well-Being 329
- 21 Household Debt Behavior 347
- 22 Financial Security: Protecting the Health of Consumers 365
- 23 Accounting for Retirement Asset Distributions during the Decumulation Stage of Life 383
- 24 The Evolution of Financial Services in the Digital Age 405
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Part IV: Future Directions
- 25 Behavioral Economics and Financial Decision Making 433
- 26 The Role of Socialization in Shaping Personal Finance Attitudes and Behaviors 451
- 27 Measuring and Applying Financial Literacy 473
- 28 Money Psychology: Beliefs and Behaviors about Investing, Saving, and Spending 491
- 29 Financial and Relationship Satisfaction 509
- 30 The Growing Role of FinTech and Robo-advisors 529
- 31 The Use of Financial Advice: Consumers’ Financial Advice-Seeking 551
- 32 The Future of Payments: Cash, Cryptocurrencies, and Peer-to-Peer Payments 569
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Part V: Summarization
- 33 Personal Finance Research: An Editor’s Perspective 585
- 34 The Future of Personal Finance: An Educational and Research Agenda 599
- List of Figures 613
- List of Tables 615
- About the Editors 617
- Index 619
Kapitel in diesem Buch
- Frontmatter I
- Contents V
- List of Contributors IX
- Preface XXI
-
Part I: Introduction to the Discipline of Personal Finance
- 1 Defining Personal Finance 1
- 2 Personal Finance: A Policy and Institutional Perspective 17
- 3 Personal Finance: A Practice Perspective 35
- 4 Personal Finance: An International Perspective 49
- 5 Theories of Personal Finance 67
-
Part II: Saving, Investing, and Asset Management
- 6 Budgeting and Cash Flow Management 87
- 7 Patterns of Asset Ownership 101
- 8 Approaches to Saving 119
- 9 Financial Risk Tolerance 137
- 10 Accounting for Time When Saving and Investing 157
- 11 Household Financial Ratios 171
- 12 Income, Income Transfers, and Taxes 189
- 13 The Use of Credit in the Consumer Marketplace 205
- 14 Debt and Mortgage Choices 219
- 15 Considerations when Planning for Retirement 235
- 16 Generating Income in Retirement Using Systematic Withdrawal Strategies with Investments 255
- 17 Small Business Ownership: Impact of the Lack of Transparency and Separation on Small Business Finances 269
- 18 Applying Investing Theory to Practice 287
-
Part III: Financial Security
- 19 The Role of Insurance as a Household Financial Management Tool 307
- 20 Health and Financial Well-Being 329
- 21 Household Debt Behavior 347
- 22 Financial Security: Protecting the Health of Consumers 365
- 23 Accounting for Retirement Asset Distributions during the Decumulation Stage of Life 383
- 24 The Evolution of Financial Services in the Digital Age 405
-
Part IV: Future Directions
- 25 Behavioral Economics and Financial Decision Making 433
- 26 The Role of Socialization in Shaping Personal Finance Attitudes and Behaviors 451
- 27 Measuring and Applying Financial Literacy 473
- 28 Money Psychology: Beliefs and Behaviors about Investing, Saving, and Spending 491
- 29 Financial and Relationship Satisfaction 509
- 30 The Growing Role of FinTech and Robo-advisors 529
- 31 The Use of Financial Advice: Consumers’ Financial Advice-Seeking 551
- 32 The Future of Payments: Cash, Cryptocurrencies, and Peer-to-Peer Payments 569
-
Part V: Summarization
- 33 Personal Finance Research: An Editor’s Perspective 585
- 34 The Future of Personal Finance: An Educational and Research Agenda 599
- List of Figures 613
- List of Tables 615
- About the Editors 617
- Index 619