Financial Capabilities and Their Relationship with Financial Well-being: Are There Gender Differences?
Year: 2025
Type: article
Study design: Observational Study
Abstract: The objective of this study was to explore the relationship between financial capabilities and financial well-being, as well as to determine whether this relationship is moderated by the variable of gender.This study utilised a quantitative, correlational, and predictive design with a crosssectional approach, where data were collected at a single point in time.The sample consisted of 345 participants over the age of 18, preferably from the workforce and higher education students, selected through a non-probability self-selection sampling method.Data were obtained through an online questionnaire and analysed using the PROCESS macro in SPSS, specifically Hayes' Model 1, to assess the moderation of gender in the relationship between financial capabilities (X) and financial well-being (Y).The analysis revealed that, overall, financial capabilities have a significant and positive impact on financial well-being, with this relationship being particularly relevant for participants of both genders.However, the results indicated that gender does not exert a significant moderating influence on this relationship, as the interaction term between financial capabilities and gender did not reach an adequate level of significance (p=0.069).Despite this, it was observed that women tend to report higher financial well-being as their financial capabilities increase, compared to men.This difference in the relationship between financial capabilities and well-being was significant when analysing the conditional effects of gender.Through this study, it is concluded that financial capabilities are a key predictor of financial well-being, but gender does not significantly moderate this relationship.Nevertheless, the influence of gender on the perception of financial well-being suggests that social or cultural factors might be intervening, which opens a space for future research to explore how other variables may affect the relationship between these two dimensions.Furthermore, the findings underscore the importance of promoting financial education as a vital factor in enhancing the financial well-being of all individuals, regardless of gender.
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4411882435