Financial health in review: current practices in different financial authorities
Financial health is a state in which people can manage their financial needs, cope with negative shocks, pursue their goals and feel confident about their financial lives. This multidimensional nature means that financial health is influenced by several factors, policies and players, both within and outside the financial sector. Within the financial sector, financial authorities have tools that can contribute to fostering financial health. They can promote financial inclusion, establish and enforce sound financial regulations and help enhance financial literacy. This paper provides a stocktake of different approaches by seven financial authorities in defining, measuring and collecting data on financial health, as well as the various programmes and policy interventions they are pursuing to help improve financial health in their jurisdictions.
JEL classification: G18, G2, G5, I31
Keywords: financial health, financial well-being, financial inclusion, financial literacy, financial regulation
