Arief Budiyanto

Research on financial well-being not only employs objective measures such as income, but also utilizes a psychological approach to measure subjective well-being, which is beneficial for alleviating stress stemming from financial conditions, enhancing overall mental health, and augmenting individuals’ quality of life. This study devises a metric for financial well-being, incorporating variables such as religiosity, anti-consumption lifestyle, and financial behavior through a quantitative approach using Structural Equation Model. The research model is examined using LISREL 8.0 for data analysis drawn from a questionnaire administered to 256 Muslim respondents. The research findings revealed that good financial behavior is the main key to achieving better financial well-being, with support from an anti-consumerist lifestyle towards such financial behavior. Meanwhile, religiosity does not significantly influence financial behavior. While religiosity can have a direct positive effect on financial well-being, it does not do so through the mediation of financial behavior. An anti-consumption lifestyle itself does not directly affect financial well-being without the help of mediating supportive financial behavior. The practical implications of these research findings suggest that financial education programs should not only focus on the aspect of religiosity alone, but also be practical and applicable to all individuals regardless of their level of religiosity.

Consumer well-being reflects subjective physical, emotional, and psychological satisfaction derived from services. This study investigates how the Technology Acceptance Model (TAM), trust, and intention to use fintech services influence consumer well-being in urban Indonesia, with financial behavior as a moderating variable. The research surveyed 390 active fintech users in the Jabodetabek metropolitan area in Indonesia, which includes Jakarta, Bogor, Depok Tangerang, and Bekasi selected due to their high engagement with digital financial services, with the survey being conducted over a three-month period from May to July 2024. The findings reveal that TAM and trust significantly influence consumers’ intention to use fintech services, which mediates their impact on consumer well-being. Notably, intention to use has the strongest direct effect on well-being (path coefficient = 0.548, p < 0.001). However, financial behavior does not significantly moderate the relationship between intention to use and well-being (p = 0.441). These results highlight the pivotal role of trust and ease of access in enhancing consumer satisfaction. From a practical perspective, the findings suggest that fintech providers and policymakers should focus on financial literacy to mitigate risks associated with unregulated fintech use. This study extends theoretical insights into the intersection of technology acceptance and consumer behavior, emphasizing the importance of user-centered approaches. Future research should explore these dynamics in rural contexts to compare community-specific impacts.

Acknowledgment
This research was funded by Directorate of Research, Technology and Community Service (DRTPM) of the Indonesian Ministry of Education and Culture in 2024 with the National Competitive Basic Research Grant scheme with contract number; 0667/E5/AL.04/2024.