Financial interdependence (FI) can be understood as an informal but important arrangement of economic dependence between two or more parties [1] as supported by interdependence theory [2]. Much of the literature related to FI situates the term as either a macroeconomic concept (such as correlated relationships between asset markets) [3] or a practice between two or more individuals in which they depend upon each other for economic support, often in a legal context such as a common-law marriage or business partnership [4]. However, from a cultural practice standpoint, FI is a phenomenon that encompasses the values, social relationships, and material means of individuals, families, and communities to support each other for the purpose of enhancing quality of life and well-being [1]. FI can have important implications for both individuals and communities. Few social science studies approach the topic of FI in such a holistic manner, focusing instead on specific cultural practices, behaviors, and expressions of FI, such as group savings [5,6], conducting remittances [7,8], or intergenerational wealth transfers [9,10]. In the United States and other neo-liberally oriented countries, these practices, behaviors, and concepts are often framed as deviations from the narrative of financial independence, despite their widespread practice. Financial education, policies, and products rooted within a financial independence paradigm espouse self-sufficiency, independence from others, and personal responsibility for financial success. However, in the context of widening wealth gaps, such a myopic approach to financial security is neither realistic nor advisable.

This entry will provide an overview of FI as a concept and practice through a range of theoretical frameworks and themes and explore its applications for improving social well-being.