Intl Conference on Economics, Finance & Business, Vienna

FINANCIAL LITERACY, FINANCIAL SELF EFFICACY AND FINANCIAL WELL BEING: THE MODERATING ROLE OF PROCRASTINATION

MOHAMMED AHMAR UDDIN

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