Impact of Financial Technology and Financial Strees on Financial Wellbeing: Mediating Role of Financial Literacy

Abstract

The objective of this study is to analyze how financial attitudes, behaviors, and the adoption of financial technology influence financial well-being, with a particular emphasis on the Mirpur division of AJK. Furthermore, it aims to explore the intermediary function of financial literacy within this framework. The study included 308 respondents a sample size from unknown population. The data collected by using questionnaire. Study used SPSS and AMOS to capture the results. The study is fundamentally explorative, employing quantitative research design. The major test or tools used in this study alpha test, descriptive summary, correlation matrix and regression etc. The study findings indicates that the sign of coefficient for financial literary is positive and its probability is significant at significant. The research findings assert a notable association between financial literacy and financial well-being. Moreover, the study highlights a positive beta coefficient, demonstrating the significance of this relationship. The sign of coefficient for financial technology is positive and its probability significant. According to the findings, there exists a substantial relationship between financial technology and financial well-being. However, the coefficient for financial stress exhibits a negative sign with significant probability. Furthermore, the research emphasizes a significant correlation between financial stress and financial well-being. This study is implacable for student’s researchers, and individuals to realize their financial wellbeing. The study is limited to Mirpur division and individuals focused on their financial wellbeing. The study is limited about 308 respondents. In future any researcher can extend this by adding further factors and across the market respondents.