Role of Technology-Enabled Tools for Measuring Financial Resources and Improving Quality of Life

Abstract

AbstractAn individual’s financial resources are directly related to their ability to meet current and future needs. Higher levels of financial assets and lower debt have been found to be positively associated with financial satisfaction. On the other hand, inadequate financial resources can lead to financial strain and financial distress. According to the WHOQOL theoretical model, financial resources refer to a person’s view of how his/her financial resources, the extent to which these resources meet the needs for a healthy and comfortable lifestyle, and what the person can afford or cannot afford which might affect quality of life. Few studies have addressed the impact of financial resources and financial burden on quality of life and the role of QoL technology-enabled tools for measuring and managing financial resource and improving quality of life. This chapter reviews the literature about (1) the effects of financial resources and financial burden on treatment outcomes and overall quality of life; (2) the state-of-art tools for measuring financial resources by individuals and financial and health professionals; (3) the evaluation of Web-based interventions for enhancing financial resource management; and (4) the behavioral and technology-related factors for successful adoption of QoL technology-enabled methods and financial resource management tools for improving individual life satisfaction and financial well-being.