Financial strain as a moderator in the relationship between family support and perceived stress

Abstract This study examines how financial strain moderates the association between family support and perceived stress among undergraduate students in Malaysia. Drawing on stress and coping theory, the conservation of resources theory, and the buffering hypothesis of social support, the research framework integrates three variables: family support as the independent variable, perceived stress as the dependent variable, and financial strain as the moderating factor. The framework posits that family support may serve as a protective resource associated with lower stress, though its effectiveness may vary across levels of financial demand. Data were collected from 387 students across 20 public universities through a web-based questionnaire, and moderated regression analysis was employed. Results indicate that family support is significantly associated with lower perceived stress, yet this negative association is attenuated under high financial strain. The interaction effect was significant, with simple slope analysis showing that the stress-buffering role of family support is stronger when financial strain is low and weaker when financial strain is high. This finding highlights the mechanism through which financial hardship reduces the psychological benefits of family support. The study makes a unique contribution by extending prior research that largely examined family support or financial strain in isolation, offering new evidence of their interactive effects in a multicultural Malaysian context. Practically, the findings suggest that interventions combining financial literacy, debt management, and family-focused support programs are essential for reducing stress and improving student well-being.