Impact of Financial Inclusion on Financial Well-Being: Moderating Effect of Orientation towards Finance


  • Sana Rashid Hailey College of Commerce, University of the Punjab, Pakistan
  • Muhammad Bilal Noon Business School, University of Sargodha, Punjab, Pakistan
  • Abid Hussain Punjab Education Department, Pakistan
  • Manzoor Ahmad Shah Specialized Health Care & Medical Education (SHC & ME) Department of Punjab, Pakistan



Financial inclusion, Financial well-being, Financial capability, Orientation towards finance, Education sector, Working women


The present study examines the impact of women’s orientation toward finance on their financial well-being. Along this, research also considers the financial capability of working women in the Lahore district's educational sector. For this purpose, the current study developed insight into the effect of financial inclusion on the financial well-being. In addition, the study is testing the mediation of financial capability and conditional process modeling of orientation towards finance of the working women as a teaching staff working in the different educational institutes such as schools, colleges and universities of Lahore. The research study adopted a quantitative strategy with using a deductive approach. The researcher used a self-administered questionnaire to collect the data from the research study's respondents. Eight hundred questionnaires were distributed among the respondents, and 600 were returned from the participants, out of which 550 questionnaires were fully filled. For analyzing data collected from respondents in the form of their responses, SPSS and AMOS have been used. The study's results indicated that the financially included working women have a high level of financial well-being. The findings also revealed that financial capability mediates the relationship between financial inclusion and financial well-being. The research outcomes showed that the working women’s orientation toward finance has a moderated mediation mechanism among financial inclusion and financial well-being and financial inclusion and financial capability. The prevailing study is significant for the women belonging to different working sectors as well as different levels of hierarchy. The study is also important for the policymakers and the governing bodies to focus on enhancing women's financial well-being by making sure that they are financially included.


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How to Cite

Rashid, S., Bilal, M., Hussain, A. and Shah, M. A. (2022) “Impact of Financial Inclusion on Financial Well-Being: Moderating Effect of Orientation towards Finance”, Journal of Economic Impact, 4(2), pp. 124–133. doi: 10.52223/jei4022215.



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