THE INFLUENCE OF FINANCIAL CAPABILITY, SELF-CONTROL, AND FINANCIAL RISK TOLERANCE ON FINANCIAL WELL-BEING MEDIATED BY FINANCIAL RESILIENCE AMONG PAYLATER USERS OF WORKING AGE IN THE MADIUN RESIDENCY

Frisma Dewi Setyawati, Liliek Nur Sulistiyowati, Aliffianti Safiria Ayu Ditta

Abstract


The use of paylater services among productive age groups continues to increase along with the ease of access to digital credit, but this convenience has the potential to cause financial pressure if not balanced with adequate financial management capabilities, so the role of financial resilience is important to study. This study aims to analyze the influence of financial capability, self-control, and financial risk tolerance on financial well-being, both directly and through financial resilience mediation, on productive age paylater users in Madiun Residency. The study used an explanatory quantitative approach with a survey design of 385 respondents aged 20–40 years who were selected through purposive sampling. The data was collected using a four-point Likert scale questionnaire through Google Form, then analyzed with Partial Least Square–Structural Equation Modeling (PLS-SEM) assisted by SmartPLS 4. The results showed that financial capability, self-control, and financial risk tolerance had a significant positive effect on financial resilience, and these four variables had a significant positive effect on financial well-being. Financial resilience has been shown to partially mediate the influence of the three exogenous variables on financial well-being. These findings affirm financial resilience as an important pathway that connects financial capabilities and behaviors with the financial well-being of paylater users, so service providers are advised to develop features that support user self-control.


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