Research Journal of Economics

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Financial Status of an Individual & Families

Financial status (SES) is a monetary and sociological joined complete proportion of an individual's work insight and of a person's or family's financial and social situation comparable to other people. While breaking down a family's SES, the family pay, workers' schooling, and occupation are analyzed, just as joined pay, though for a person's SES just their own ascribes are evaluated. Be that as it may, SES is all the more normally used to portray a monetary contrast in the public eye overall. Financial status is commonly broken into three levels (high, center, and low) to depict the three places a family or an individual may fall into. While setting a family or individual into one of these classifications, any or the entirety of the three factors (pay, schooling, and occupation) can be evaluated. Also, low pay and schooling have been demonstrated to be solid indicators of a scope of physical and emotional well-being issues, including respiratory infections, joint inflammation, coronary sickness, and schizophrenia.


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