Financial Wellness: Knowledge, Behavior & Happiness

Authors

Patrick R. DulcioFollow

Document Type

Dissertation

Degree

Doctor of Business Administration

Major/Program

<--Please Select Department-->

First Advisor's Name

Dr. Miguel Aguirre-Urreta

First Advisor's Committee Title

Committee Chair

Second Advisor's Name

Dr. Attila Hertelendy

Second Advisor's Committee Title

Committee Member

Third Advisor's Name

Dr. Chaitali Kapadia

Third Advisor's Committee Title

Committee Member

Fourth Advisor's Name

Dr. Jayati Sinha

Fourth Advisor's Committee Title

Committee Member

Keywords

Financial Behavior, Financial Literacy, Financial Stress, Financial Well-Being

Date of Defense

6-26-2023

Abstract

This study investigated the relationship between financial literacy, financial behavior, financial stress, and financial well-being. A total of 350 usable responses was derived from a survey and analyzed the data using partial least squares structural equation modelling (PLS-SEM) techniques. The findings of this study provide evidence to support the three out of the four hypotheses proposed, including the impact of financial literacy on financial behavior, as well as the positive impact of responsible financial behavior on financial well-being, and the negative impact of financial stress on financial well-being. The implications of this study suggest that improving financial literacy could potentially lead to more responsible financial behavior and lower financial stress, ultimately contributing to improved financial well-being. However, the limitations of this study should also be taken into consideration when interpreting the results, including the use of self-reported measures and the potential for selection bias. Future research should address these limitations and explore additional factors that may impact financial literacy, financial behavior, financial stress, and financial well-being. This could include longitudinal studies that examine changes in financial behaviors and well-being over time, as well as the effectiveness of interventions aimed at improving financial literacy and reducing financial stress. Overall, this study provides valuable insights into the complex relationship between financial literacy, financial behavior, financial stress, and financial well-being, and highlights the importance of considering these factors when developing policies and programs aimed at improving individuals' financial outcomes.

Identifier

FIDC011145

Recommended Citation

Dulcio, Patrick R., "Financial Wellness: Knowledge, Behavior & Happiness" (2023). FIU Electronic Theses and Dissertations. 5430.
https://digitalcommons.fiu.edu/etd/5430