Financial Well-Being, Theoretical Concepts

This work aims to analyze the theoretical foundations of financial well-being. Studying them is helpful to better understand its social impact, given that it associates with socio-economic progress and happiness. We follow a qualitative-descriptive method based on a broad literature review and chronological analysis. We argue in favor of establishing a theory of financial well-being to define, measure, and analyze it comprehensively. The originality of this work lies in describing and contrasting several theoretical foundations together instead of addressing them separately. Our results are of interest to those involved in research about financial well-being, subjective well-being, and the economics of happiness.