The impact of religious practice and importance on college students' financial well-being

Using secondary data from the 2008 wave of Young Adult Survey of the National Longitudinal Study of Youth (NLSY), financial well-being was explored through an ecological theory lens. Considering micro-level constructs, this study explored religious practice, religious importance, and financial well-being in college students. The purpose of the study was to explore (a) differences in religious practice and religious importance by ethnicity and gender, (b) differences in religious practice and religious importance by parental and peer influence, (c) differences in credit card debt by ethnicity and gender, (d) differences in financial well-being by ethnicity and gender, (e) relationship between religious practice, religious importance, and credit card debt, and (f) the relationship between religious practice, religious importance, and financial well-being.

Using secondary data from the 2008 Young Adult Survey of the National Longitudinal Study of Youth (NLSY), this study applied quantitative data analysis to explore constructs of religious practice, religious importance, and financial well-being in a sample of 675 participants.

The present study found no relationship between religious practice and religious importance as correlated with credit card debt and financial well-being. Analyses found that frequency of religious practice and level of religious importance were not related to credit card debt levels or levels of financial well-being. However, considering the Ecological Theory lens, this study did find individual and micro-level influencers of religious practice, religious importance, and financial well-being; specifically, gender, ethnicity, and peers were found to influence participants' religious practice, importance, and financial well-being. Overall, the present study provides a foundational exploration of religiosity and financial well-being. Recommendations concerning research, universities, and policy are included.