2.2.1 Origins of financial well-being, financial capability and financial competence The literature which conceptualised financial well‐being in the workplace is much more developed in the USA, where experts have been undertaking work to define and model it for over ten years. It is this literature from which most of the available definitions are drawn. Financial well‐being is a composite concept, consisting of objective and subjective dimensions, and different studies focus on either or both of these dimensions. We now consider each of these approaches in turn.