What is the meaning of financial well being?

Financial well-being refers to a state where an individual or household has a healthy balance of income, expenses, savings, and investments, enabling them to meet current and future financial obligations without stress. It encompasses not just the amount of money one has, but also the ability to make informed financial decisions, achieve financial goals, and maintain a sense of security and stability. Ultimately, financial well-being contributes to overall quality of life and personal peace of mind.