Financial wellbeing is about having enough money so that you can generally live the life that you want. Interestingly, research shows that beyond having enough money to feel financially secure, more money does not increase wellbeing. However, it is important that you have enough money to meet your financial obligations so that you don't regularly worry about money (or the lack of it).
Financial wellbeing is influenced by how your money is spent – giving to others and spending money on experiences improves an individual's wellbeing more than spending money on material things.