How Financial Capability Protects Financial Well-Being During COVID-19: A Pre- and Post-Pandemic Analysis

Financial well-being represents both the material foundation and an essential component of overall household well-being. The outbreak of the COVID-19 pandemic at the end of 2019 significantly impacted a wide range of small and large business owners as well as wage earners across the United States, subsequently affecting the financial well-being of many households. In order to mitigate such adverse effects, this study aims to explore whether higher financial capability positively influences finan