Financial Literacy and Financial Well-being of Australian Consumers: A Moderated Mediation Model of Impulsivity and Financial Capability

dc.contributor.authorTahir, Muhammad
dc.contributor.authorAhmed, Abdullahi Dahir
dc.contributor.authorRichards, Daniel
dc.date.accessioned2021-06-28T15:57:34Z
dc.date.available2021-06-28T15:57:34Z
dc.date.issued2021-06-24
dc.description.abstractWe test a moderated mediation model for a twofold purpose. First, to examine the mediating role of financial capability (FC) in the association between financial literacy (FL) and financial well-being (FW). Second, to analyze if non-impulsive future-oriented behavior (NIB) moderates the associations of FL with FC and FL with FW. We use the PROCESS macros in IBM SPSS Statistics to test the moderated mediation model and analyze the 2016 wave of the Household, Income and Labour Dynamics in Australia Survey. The empirical analysis shows that FC partially mediates the association between FL and FW. Furthermore, the moderated mediation analysis shows that NIB strengthens the associations of FL with FC and FL with FW. Specifically, the positive associations of FL with FC and FL with FW significantly increase for those consumers who score high on NIB. The findings have implications for the financial services industry. Professional financial planners can positively improve the ability of consumers to deal with their financial matters by highlighting the importance of FL and NIB. To our knowledge, this is the first study to assess a moderated mediation model, which examines the role of FC as a mediator variable and NIB as a moderator variable in the association between FL and FW.en_US
dc.identifier.issn0265-2323
dc.identifier.urihttps://doi.org/10.1108/IJBM-09-2020-0490en_US
dc.identifier.urihttp://hdl.handle.net/10315/38400
dc.language.isoenen_US
dc.publisherEmeralden_US
dc.rightsThis author accepted manuscript is deposited under a Creative Commons Attribution Non-commercial 4.0 International (CC BY-NC) licence. This means that anyone may distribute, adapt, and build upon the work for non-commercial purposes, subject to full attribution. If you wish to use this manuscript for commercial purposes, please contact permissions@emerald.com.en_US
dc.rightsAttribution-NonCommercial 4.0 International*
dc.rights.articlehttps://doi.org/10.1108/IJBM-09-2020-0490en_US
dc.rights.journalhttps://www.emerald.com/insight/publication/issn/0265-2323en_US
dc.rights.publisherhttps://www.emerald.com/insight/en_US
dc.rights.urihttp://creativecommons.org/licenses/by-nc/4.0/*
dc.subjectHILDAen_US
dc.subjectfinancial literacyen_US
dc.subjectfinancial well-beingen_US
dc.subjectfinancial capabilityen_US
dc.subjectimpulsivityen_US
dc.titleFinancial Literacy and Financial Well-being of Australian Consumers: A Moderated Mediation Model of Impulsivity and Financial Capabilityen_US
dc.typeArticleen_US

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