Financial Well-Being of Women Professionals in Chandigarh: An Assessment of Key Dimensions

Financial well-being plays an important role in an individual’s life. Attaining the desired financial state is everyone’s dream. Employees are the backbone of any organization. Their physical, social, emotional and financial balance is pivotal for organizational success. Studies have proved that financial satisfaction has a direct effect on overall well-being. In the PWC Financial Wellness Survey 2020, it is highlighted that 54 per cent of employees suffer from financial stress. This research is focused on assessing the financial well-being of women working in the Information Technology, Finance, Education and Health sectors from the Chandigarh region. To fulfil this purpose, data was collected from 100 women working in these sectors. An unstructured questionnaire comprising questions on Financial freedom, Financial security, Financial resilience, Financial stress and Satisfaction with the current financial situation was used to collect data. The purposive cum snowball sampling was used to contact the respondents. The overall analysis highlighted that respondents’ mean score is highest on the financial freedom dimension (3.5) followed by satisfaction with the current financial situation (3.41), financial resilience (3.34), and financial security (3.26). On the financial stress dimension, the lowest mean has been recorded which is (2.83). The overall financial well-being is 3.29, signifying that women have a good level of financial well-being. The income level of women could be a factor contributing to their overall healthy financial state.