Want to feel better about your finances? Move to India. Apparently consumers there were left relatively unscathed by the recession, according to a new white paper from MetLife and the Boston College Center for Work & Family.
India appears to be a perfect blend of what researchers call "financial wellness," a multi-faceted concept that describes the overall financial health of an individual. Five factors go into financial wellness: personal characteristics, financial literacy, financial behavior, financial situation and financial stressors.
In India, they're not afraid to talk about retirement. Seventy-five percent of India's consumers use informal sources of advice like friends or family, versus 30 percent in the U.S. (intrestingly, less than 20 percent in India use advisors, brokers, accountants, banks or insurance company reps). It's also more common for workers to openly talk about their incme.
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