Exploring linkages of financial literacy with financial well-being: the mediating aspect of financial behaviour and financial self-efficacy

What is it about?

Key Aspects of Research Article: • This study explores the effect of financial literacy components on financial well-being of employees by focusing on the role of financial behaviour and self-efficacy. • The sample size of this research was 719 employees working in SMEs of India. • Data was collected through structured surveys and analysis was done by using SEM Approach and mediation analysis (95% confidence interval and percentile bootstrap). • The article concluded that financial behavior and self-efficacy partially mediates the relationship of financial literacy components and financial well-being. • The research insights are valuable for the educational leaders, research scholars, policy makers and financial analysts in formulating strategies to enhance financial literacy level of employees.

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