Assessing the Mediating Role of Life Satisfaction in the Nexus Between Financial Behavior and Financial Well-being
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Abstract
This quantitative non-experimental correlational study mainly aim to investigate the mediating effect of life satisfaction in the relationship between financial behavior and financial well-being of college students in the Davao Region. The data were collected online through Google Forms using adopted instruments. The respondents were chosen through stratified random selection. The measuring model underwent validity and reliability tests. Descriptive statistics were utilized to define the constructs in the study. The hypothesized mediation model was assessed by mediation analysis utilizing the standard algorithm bootstrapping of SmartPLS 4.0. Further, the study was anchored to the Theory of Planned Behavior, Life Satisfaction Theory, and the Behavioral Life-Cycle Hypothesis. The results indicated that the variables of the research satisfy both validity and reliability tests. The findings revealed that the students have moderate levels of life satisfaction and financial well-being while they demonstrate high levels of financial behavior.
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References
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