What is it about?

Recent research shows inconsistent findings of the association between financial literacy and financial well-being. We test, for the first time, if non-impulsive future-oriented behavior (NIB) moderates and financial capability mediates the association between financial literacy and financial well-being. Our results convey that financial capability mediates the association between financial literacy and financial well-being. Furthermore, the positive associations of financial literacy with financial capability and financial literacy with financial well-being significantly increase for those consumers who score high on NIB.

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Why is it important?

This research creates a theoretical and empirical link between financial literacy, financial capability, and financial well-being. This study provides an important guideline to avoid impulsive behavior in order to achieve higher levels of financial wellbeing.

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This page is a summary of: Financial literacy and financial well-being of Australian consumers: a moderated mediation model of impulsivity and financial capability, The International Journal of Bank Marketing, July 2021, Emerald,
DOI: 10.1108/ijbm-09-2020-0490.
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