Impact of financial literacy on financial well-being: a mediational role of financial self-efficacy

The purpose of this paper is to explore the impact financial literacy on well-being among business school faculties. Both variables (financial and well-being) are operationalized as multi-dimensional constructs undertake study. Moreover, also endeavored examine mediating role self-efficacy between well-being. adopts a survey by questionnaire method gather data from 203 faculty members through simple random sampling (SRS) technique. Confirmatory factor analysis was used for scale validation, structural equation modeling hypotheses testing. Mediation tested using percentile bootstrap with 95% confidence interval. study found significantly positive well its dimensions It that partially mediates effect Measurement done subjective measures, limited faculties only. present research findings could be employed in crafting educational programs schools. These shall guide such institutions imparting knowledge skills students regarding their personal finances terms savings retirement planning. focused Jammu Kashmir region, who less exposed due factors like frequent lockdown internet shutdowns. it generally witnessed salaried class people pay attention long-term planning retirement, which makes more relevant. Therefore, will prove beneficial all employees, especially faculties, understand importance subsequent