This other welfares, but the financial health

This part presents concepts,
insights, and ideas from various authors in support to the investigation
undertaken by the researcher. The independent variable of the study is the
Financial Wellness which is based of the framework namely financial
satisfaction, financial behavior and subjective perception of financial status
produce positive outcomes on employee Quality of Life (Joo, 2008).
The dependent variable of the study is the Quality of life that Individuals
look at their own life as to measure their QoL such as work, family and health (Veenhoven, 1996)

          Employer-based financial wellness is
frequently seen as an addition to other welfares, but the financial health of
employees should be observed through the complete lens of other health and
wellness programs that employers offer. These facilities don’t just take care
of employees when they’re sick, but also work to avoid them from getting sick
in the first place with fitness, smoking termination, diet and lifestyle
programs. Financial wellness agendas should work in the same way, offering complete
support and guidance to employees so they can meet short term needs while working
toward long-range goals.  (Aurora, 2015)

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into work is a critical choice and ideally a commonly enduring duty with
respect to the business and representative. While bosses have discarded many
the money related advantages that individuals used to expect, they are repaying
by presenting more instruction on budgetary prosperity and long haul monetary
arranging. We all know that cash can be a colossal wellspring of worry, and
that pressure can be accidentally conveyed into the working environment. By
searching out business/worker connections that have monetary prosperity on the
most fundamental level, the business will get a committed, stress-free
employee, and the employee will feel mitigated realizing that their finances
are in order, leaving them time to focus on the task hand. Financial well-being
is a perception of an individual’s financial situation that financially free
from anxiety, healthy and happy. (Joo, 2008)


          Happiness does not increase as a
country’s income increases, financial well-being was the same with income, as
it was considered as a suitable financial factor to make people happy. People
these days hold the idea that a positive financial condition is something
different, something that goes beyond a high income. The first problem then
becomes defining what financial well-being is in order to help people achieve
it (CFPB, 2015).

         Workplace Financial Wellness is referring
to employees’ knowledge of their financial well-being, specifically personal
savings and employer-sponsored benefits. The terms financial well-being and economic
well-being are used similar in which both terms may be the suitable proxies of
economic well-being. The means of economic well-being has grown from simple
happiness or general satisfaction with one’s material or finance scenario to an
advanced insight of non-material aspect of an individual’s financial scenario.
This contains satisfaction with financial gain and savings, awareness of
opportunities, ability to create ends meet, sense of fabric security and sense
of fairness of the reward distribute system (stumple, 1976).


          Financial Wellness of people,
families or households are the economic resources they have offered to support
their material living conditions, and their control over these resources and
conditions. People’s wellbeing is affected by individual situations and their
lifestyle choices. Having access and ability to manage economic resources means
that people are be able to acquire the goods and services to meet their needs
and sustain their acceptable standard of living. This contains the consumption
of food, clothing, housing, education and leisure activities. Economic
wellbeing also relates to the risk of facing financial difficulties in times of
need or unexpected expenses, such not being able to pay for necessities or find
funds if there is an emergency. This kind of economic hardships may also
contribute to people experiencing physical, mental and emotional stress.
Furthermore, the supposed levels of economic well-being are related to quantity
of financial gain, standard of living, savings and investments and retirement,
having the ability to fulfil monetary emergencies, and worrying concerning
repaying debts. (Garman, Porter 1993)