Lecturers’ financial well-being: The role of religiosity, financial literacy, financial behavior, and financial stress with gender as a moderating variable

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Financial well-being refers to how individuals perceive their financial security and ability to meet short-term and long-term financial goals. It involves feeling financially stable, having control over one’s finances, being satisfied with one’s financial situation, and handling unexpected events without excessive stress. This study examines the impact of financial literacy, financial behavior, financial stress, and religiosity on financial well-being, with gender as a moderating factor. A quantitative research approach was used, with the participants in this study consisting of permanent lecturers at a prestigious private university in North Sumatra, Indonesia, who are male with more than 1 (one) year of service. Due to the lack of available data regarding the exact number of faculty members, the sample size was calculated using Lemeshow’s formula, which is appropriate for use when the population is unknown. This resulted in a sample size of 385 permanent lecturers. The sampling method was accidental, and the data were analyzed using the SEM-PLS approach with SmartPLS software. The results show that religiosity, financial behavior, and financial literacy positively and statistically significantly affect financial well-being (p < 0.05). In contrast, financial stress, though negative, does not have a significant impact (p > 0.05). Additionally, gender does not moderate the relationship between religiosity, financial behavior, and financial stress on financial well-being (p > 0.05), but gender moderates the effect of financial literacy on financial well-being (p < 0.05).

Acknowledgment
They financed this study under the Fundamental Research - Regular (PF-R) area. Thank you, Ministry of Education, Culture, Research and Technology of the Republic of Indonesia 2024. This is also possible thanks to the Institute for Research and Community Service (LPPM) and the Faculty of Economics and Business Leadership at Universitas Muhammadiyah Sumatera Utara.

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    • Figure 1. Conceptual framework
    • Table 1. Outer loading
    • Table 2. Composite reliability
    • Table 3. Discriminant validity
    • Table 4. Heterotrait-Monotrait ratio (HTMT)
    • Table 5. R-square test
    • Table 6. Direct and moderating effects
    • Conceptualization
      Radiman
    • Data curation
      Radiman, Sri Fitri Wahyuni, Linzzy Pratami Putri, Adelia Damaiyanti, Densi Anugrahwati P
    • Investigation
      Radiman, Sri Fitri Wahyuni, Linzzy Pratami Putri, Adelia Damaiyanti, Densi Anugrahwati P
    • Methodology
      Radiman, Sri Fitri Wahyuni, Linzzy Pratami Putri
    • Supervision
      Radiman, Sri Fitri Wahyuni, Linzzy Pratami Putri
    • Validation
      Radiman, Sri Fitri Wahyuni, Linzzy Pratami Putri, Adelia Damaiyanti, Densi Anugrahwati P
    • Visualization
      Radiman, Sri Fitri Wahyuni, Linzzy Pratami Putri, Adelia Damaiyanti, Densi Anugrahwati P
    • Writing – original draft
      Radiman, Sri Fitri Wahyuni, Linzzy Pratami Putri
    • Writing – review & editing
      Radiman, Sri Fitri Wahyuni, Linzzy Pratami Putri, Adelia Damaiyanti, Densi Anugrahwati P
    • Funding acquisition
      Sri Fitri Wahyuni
    • Project administration
      Sri Fitri Wahyuni, Adelia Damaiyanti, Densi Anugrahwati P
    • Resources
      Sri Fitri Wahyuni, Linzzy Pratami Putri, Adelia Damaiyanti, Densi Anugrahwati P
    • Software
      Sri Fitri Wahyuni, Adelia Damaiyanti, Densi Anugrahwati P
    • Formal Analysis
      Linzzy Pratami Putri