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August 6, 2024Investment Management and Financial InnovationsOpen Access

Factors affecting financial well-being: the mediating role of financial behavior towards religiosity and anti-consumption lifestyle – evidence from Indonesia

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Authors

ABArief BudiyantoAMAbdul MujibMAMuhammad Arif

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Overview

Survey study reveals financial behavior mediates the link between an anti-consumption lifestyle and financial well-being in Muslim respondents, highlighting the importance of practical skills.

Key Points

  • Financial behavior directly elevates financial well-being, while an anti-consumption lifestyle contributes solely through its positive influence on money habits.
  • Analysis of 256 Muslim respondents using a structural equation model demonstrates that religiosity does not significantly govern sound financial behavior.
  • Financial education programs must focus on practical money management skills rather than religiosity alone to meaningfully boost subjective well-being.

Cite This Study

Budiyanto et al. (2024) studied this question.

synapsesocial.com/papers/68e5d467b6db64358756a02ahttps://doi.org/10.21511/imfi.21(3).2024.16
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