Financial Literacy, Financial Self Efficacy and Financial well being: The moderating role of procrastination

Mohammed Ahmar Uddin ()
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Mohammed Ahmar Uddin: Dhofar University

No 14316123, Proceedings of Economics and Finance Conferences from International Institute of Social and Economic Sciences

Abstract: Financial well-being is the satisfaction an individual experiences with their financial position. This study investigated the effect of financial literacy and procrastination on financial well-being and the moderating role of Financial self-efficacy. Financial well-being was measured through the Consumer Financial Protection Bureau's measure of financial well-being. Data for the study was collected from 300 individuals using an online questionnaire. Structural Equation Model analysis was done using SmartPLS 4. The results showed that Financial self-efficacy [F.E.] is moderating the inverse relation of Procrastination [PROC] on Financial Wellbeing [F.W.] into a direct relation, but the effect of Financial Literacy [FL] is getting affected due to the moderation of FSE; it can be interpreted that the study sample contains the investors who are having behavioural biases which lead the F.W. to get reduced with the moderation of FSW on FL. This study provides insights for financial practitioners, educators, and policymakers and can help households improve their financial well-being.

Keywords: Financial Literacy; financial well-being; Financial Self-Efficacy; Procrastination (search for similar items in EconPapers)
JEL-codes: D03 G00 (search for similar items in EconPapers)
Pages: 14 pages
New Economics Papers: this item is included in nep-fle and nep-pay
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Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Vienna, Nov -0001, pages 96-109

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Persistent link: https://EconPapers.repec.org/RePEc:sek:iefpro:14316123

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