The Conditional Moderated Mediation Effect of Allowance on Financial Well-Being by Financial Self-Efficacy

Mei-Chung Lin

Abstract

This paper mainly discusses the personal characteristics and life event effects of allowance on financial well-being of Fujian college students by financial self-efficacy. A survey was conducted among two Fujian university students in December2018. The items included demographic variables, allowances, financial self-efficacy and subjective financial well-being. The results show that financial self-efficacy affects financial well-being, and allowance has conditional moderating mediating effects: (1) there is a significant two-factor interaction between financial self-efficacy and gender; (2) there is a significant two-factor interaction between financial self-efficacy and studentsā€˜life event; (3) there is also a significant three-factor interaction among life event, gender, and financial self-efficacy; and (4)the conditional moderated mediation effect is determined by gender value. The important originality and contribution of this paper is to find out the different effects of different life events for different gender by using conditional mediation analysis process. This is the remaining deficiency of related research on the impact of life events on well-being. It is also the first case of financial self-efficacy on financial well-being.