Frontiers in Psychology (Jan 2023)

Personal well-being and financial threats in Peruvian adults: The mediating role of financial well-being

  • Bertha Estela-Delgado,
  • Gilmer Montenegro,
  • Jimmy Paan,
  • Wilter C. Morales-García,
  • Wilter C. Morales-García,
  • Ronald Castillo-Blanco,
  • Liset Sairitupa-Sanchez,
  • Jacksaint Saintila

DOI
https://doi.org/10.3389/fpsyg.2022.1084731
Journal volume & issue
Vol. 13

Abstract

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Crises negatively affect the economy of a country, increasing financial risk, as they affect work activities and the well-being of the population. This study aimed to examine the mediating role of financial well-being in the relationship between personal well-being and financial threats. A predictive cross-sectional study was conducted. The variables analyzed were personal well-being, financial threats, and financial well-being. A total of 416 Peruvian adults from the three regions of Peru participated. The mean age was M = 35.36, SD = 8.84, with a range of 19–62 years. To represent the statistical mediation model, a structural equation model (SEM) was used. The analysis showed that the variables were significantly related (p < 0.001). The theoretical model indicated a perfect mediation, also obtaining a good fit, χ2(168) = 394.3, CFI = 0.931, RMSEA = 0.057, SRMR = 0.062. The study showed that personal well-being serves as a basis for promoting financial well-being and this contributes to the reduction of financial threats.

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