Determinants of financial well-being in young adults' quarter-life crisis

This research examines the determinants of financial well-being, namely financial literacy, financial stress, financial inclusion, and financial wellness among young adults aged 25-35 in Blitar, East Java, who are experiencing a quarter-life crisis. Unlike previous studies that tended to examine these factors separately, the novelty of this research lies in introducing a new concept, namely how financial wellness influences financial well-being through its mediating role on financial literacy, financial stress, and financial inclusion. Using a quantitative research design, data were collected through questionnaires and analyzed using the SEM-PLS approach with a sample of productive-age individuals in Blitar. The results reveal that financial literacy, financial inclusion, and financial wellness have significant positive effects on financial well-being, while financial stress has a significant negative effect. These findings indicate that the financial well-being of young adults facing a quarter-life crisis is influenced not only by financial knowledge and access but also by the ability to manage financial stress and maintain financial wellness. Practical implications include the need for integrated programs combining financial literacy, financial stress management, and financial wellness strategies to support young adults in achieving financial stability during this critical life stage.