Kanchan Sehrawat|Madhu Vij|Gaurav Talan
Understanding the Path Toward Financial Well-Being: Evidence From India
University of Delhi|University of Delhi|Guru Gobind Singh Indraprastha University
many countries taking steps establish national strategies improve financial wellbeing fwb people however fwb term still infancy stage handful models developed context developed countries thus need understand fwb multidisciplinary multidimensional approach draft implement efficient strategies especially context developing countries like india study performed path analysis identify specific constituents financial literacy financial behavior finb personality traits affect fwb perceived objective individual indian context survey responses 349 respondents analyzed empirically validate proposed relationships using partial least squares structural equation modeling plssem approach analysis mostly provides support existing literature challenges findings provide support 12 17 tested effects eight hypotheses understanding pathways lead increased fwb individuals potential facilitate effective policymaking designing curriculum support efforts individuals toward higher fwb responsible finbs