Financial well-being through digital financial literacy, financial behaviour, and financial confidence

Abstract

Objective: The study aims to explore how digital financial literacy, financial confidence, and financial behaviour can enable private university students to manage their financial well-being. Research Design & Methods: In this study, we used a cross-sectional research design and a deductive approach. Besides, using the snowball sampling technique, the researchers collected data from 319 private university students in Bangladesh. We analysed the collected data using SPSS and Smart PLS software. Findings: We found that digital financial literacy has no significant effect on the financial well-being of the private university students in Bangladesh. However, financial confidence and financial behaviour have a significant positive impact on financial well-being. Regarding the mediating effect, financial confidence fully mediates the relationship between digital financial literacy and financial well-being. Finally, financial confidence partially mediates the relationship between financial behaviour and financial well-being. Implications & Recommendations: Institutions of higher learning can develop initiatives to equip the youth with basic financial skills and the ability to use digital platforms. The government can develop initiatives that will provide opportunities for the youth to access financial information through the development of financial programs within learning institutions. Contribution & Value Added: The research makes a unique contribution to theory by revealing financial confidence as a crucial mediator through the lens of the technology acceptance model (TAM) and the theory of planned behaviour (TPB). © 2026, Cracow University of Economics. All rights reserved.