ARCHIVES
VOL. 9, ISSUE 6 (2023)
The role of cognitive and Non-cognitive factors on individual financial well-being: A conceptual framework and future research agenda
Authors
Reetika Jain, Sunita Singh Sengupta
Abstract
The paper uses the theory of control, theory of planned behavior and Behavior
Life Cycle (BLC) with an aim to propose an integrated conceptual model of an
individual financial wellbeing. The study explores the impact of cognitive
factor, such as financial literacy and non-cognitive factors namely mindfulness
and self-control on FWB. The present study will help to understand the process
by which an individual able to regulate and control his temptations and planned
his behavior to achieve the financial wellbeing. The article reviews the
findings from the existing literature and proposes an integrated model that
incorporates mindfulness, financial literacy, self-control and financial wellbeing
into a single financial well-being model. The study develops several
propositions that may lead to empirical research in the domain of financial
wellbeing. Further the study also discusses the practical implications for who
can positively improve the ability of individuals in financial matters by practicing
mindfulness along with financial knowledge.
Download
Pages:45-52
How to cite this article:
Reetika Jain, Sunita Singh Sengupta "The role of cognitive and Non-cognitive factors on individual financial well-being: A conceptual framework and future research agenda". International Journal of Commerce and Management Research, Vol 9, Issue 6, 2023, Pages 45-52
Download Author Certificate
Please enter the email address corresponding to this article submission to download your certificate.