Unveiling Financial Wellbeing: Review of Antecedents in the New Normal

Tanya Shah , Rajesh Ranjan Thakur and V. Mary Jessica

School of Management Studies, University of Hyderabad, 500046, Hyderabad, India

DOI: https://doi.org/10.35609/gcbssproceeding.2025.1(59)

ABSTRACT


The pandemic brought with itself an economic turbulence ranging from sudden job losses, business closures to global recession. The crises which adversely affected nearly all sections of the economy have necessitated the stakeholders to Rethink on their efforts to improve financial inclusion, education, and behaviours of broad and vulnerable population. Recently, there has been a shift in policymakers' objectives from just financial inclusion to financial wellbeing(FWB). FWB is achieved when an individual manages their finance sustainably to gain financial security and freedom. This systematic literature review of financial well-being post-2020 is done following the PRISMA guideline aiming to comprehensively study the antecedents and analyse how those factors influence financial well-being across diverse populations. Such insights would help policymakers design targeted interventions, make rational policy decisions, and promote a more financially resilient society.


JEL Codes: G53, I31, D14


Keywords: Financial Well-being, PRISMA, Financial Freedom, Financial Security, Systematic Literature Review

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