2.2.4 Combined measures of financial well-being Few authors rely entirely upon subjective measures to define financial well‐being, since individuals can be misguided in their estimation of their financial situation. Furthermore, ‘ostrich’ behaviour is well documented among those encountering debt problems, where people ignore financial difficulties until the consequences become acute. Most research uses a composite concept of financial well‐being, including both objective and subjective measurements, and subjective measures are often particularly important in influencing behaviours (see Section 3.4). Joo gives a definition of financial well‐being as: ‘satisfaction with material and nonmaterial aspects of one’s financial situation, perception of financial stability including adequacy of financial resources, and material and non‐material financial resources that each individual possesses’ (1998:8).