Good Financial Health

For People Around the World

Can Change Everything

Financial health or wellbeing is the extent to which a person or family can smoothly manage their current financial obligations and have confidence in their financial future. - UNSGSA

Elements of Financial Health:

Day to Day

Smooth short-term finances to meet financial obligations and consumption needs.

Resilience

Capacity to absorb financial shocks.

Goals & Confidence

On track to reach future goals. Feeling secure and in control of finances.

Financial Health Gaps Across The World

Poor financial health is a global problem. The little measurement of financial health across the world reveals that a large percentage of the population in most countries are struggling financially. The most geographically comprehensive measurement of financial health to date comes from the WorldBank’s Global Findex, which asked questions about the resilience element of financial health in approximately 150 countries.

Ability to Cover Basic Needs during Loss of Income

"A related measure of resilience is a question about the time a person or family could maintain their basic needs if income were interrupted. A Gallup study of 10 high- and middle-income countries found that, after just four weeks, more than half of the respondents in the six countries with lower incomes would not be able to meet their needs. (See Figure Below) For these majorities, financial health hangs on labor income to such a degree that when shocks interrupt income flows, families face hardship or poverty. Such a scenario affected millions of families across the world in 2020 as a result of theCovid-19 pandemic, with an estimated 120 million people falling into extreme poverty" - UNSGSA

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