Your Better Life Index
The OECD has launched a new interactive index which will enable people to measure and compare their lives in a way which goes beyond traditional GDP measures of economic wealth.
The index is called Your Better Life and forms part of a wider OECD Better Life initiative to measure well-being and progress.
It allows people to compare the quality of life using 11 dimensions – housing, income, jobs, community, education, environment, governance, health, life satisfaction, safety and work-life balance.
Users can give their own weight to each measure and compare lives across 34 different countries.
This is a very interesting tool.
Looking at scores for the UK, where the average household earned $27,208 in 2008, we perform very well in terms of overall well-being. The UK ranks among the top countries in several topics in the index.
What the Better Life Index demonstrates is that well-being is not limited to financial wealth. When considering your Financial Planning, thinking carefully about the non-financial measures of success is equally as important.