Purpose

This study aims to 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.

Design/methodology/approach

The authors use the PROCESS macros in IBM SPSS Statistics to test the moderated mediation model and analyze the 2016 wave of the Household, Income and Labor Dynamics in Australia Survey.

Findings

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.

Practical implications

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.

Social implications

The study findings suggest educating consumers to discourage impulsive behavior and encourage them to create financial plans as it will enhance their ability to conduct financial tasks efficiently, improving their FW.

Originality/value

To the authors’ 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.

中文翻译：

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澳大利亚消费者的金融素养和金融福祉：冲动性和金融能力的调节中介模型

目的

本研究旨在测试一个有双重目的的调解模型。首先，检查财务能力（FC）在财务素养（FL）和财务福祉（FW）之间的关联中的中介作用。其次，分析非冲动性未来导向行为 (NIB) 是否会调节 FL 与 FC 和 FL 与 FW 的关联。

设计/方法/方法

作者使用 IBM SPSS Statistics 中的 PROCESS 宏来测试调节中介模型并分析 2016 年澳大利亚家庭、收入和劳动力动态调查浪潮。

发现

实证分析表明，FC 部分介导了 FL 和 FW 之间的关联。此外，有调节的中介分析表明，NIB 加强了 FL 与 FC 以及 FL 与 FW 的关联。具体而言，对于那些在 NIB 上得分较高的消费者，FL 与 FC 和 FL 与 FW 的正相关性显着增加。

实际影响

调查结果对金融服务业具有影响。专业理财规划师可以通过突出FL和NIB的重要性来积极提高消费者处理财务问题的能力。

社会影响

研究结果建议教育消费者阻止冲动行为并鼓励他们制定财务计划，因为这将提高他们有效执行财务任务的能力，改善他们的财务状况。

原创性/价值

据作者所知，这是第一项评估调节中介模型的研究，该模型检查了 FC 作为中介变量和 NIB 作为中介变量在 FL 和 FW 之间的关联中的作用。