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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.