DIRECT AND INDIRECT IMPACT OF SELF-CONTROL AND FUTURE TIME PERSPECTIVE ON FINANCIAL WELL-BEING
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Abstract
This study examines the influence of self-control and future time perspective on the financial well-being of students receiving the Indonesia Smart College Card (KIP-K) at Universitas Airlangga, while also analyzing the role of past and present financial behavior as an intervening variable in these relationships. Financial well-being is represented by two aspects, namely current money management stress and expected future financial security. The research employed a quantitative explanatory approach involving 319 KIP-K recipients from the 2023 and 2024 cohorts, with respondents selected using the Slovin formula. Data analysis was conducted through Partial Least Squares Structural Equation Modeling (PLS-SEM) with the assistance of WarpPLS 7.0. The findings reveal that self-control is associated with higher expected future financial security, whereas future time perspective corresponds with lower current money management stress. In addition, both self-control and future time perspective demonstrate positive connections with past and present financial behavior. The mediation analysis further indicates that past and present financial behavior partially accounts for the relationship between self-control and expected future financial security, as well as the relationship between future time perspective and current money management stress. These findings suggest that appropriate financial behavior reinforces the contribution of psychological factors in supporting the financial well-being of KIP-K students.
Keywords:
Self-Control Future Time Perspective Financial Well-Being Financial Behaviors KIP-K StudentsReferences
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