<![CDATA[The growing number of students working while pursuing higher education highlights the need to understand factors associated with their psychological well-being. This study examined the associations among religiosity, frugal behavior, and financial resilience with the psychological well-being of working students. A quantitative explanatory survey was conducted with 195 Indonesian Muslim working students aged 18–25, recruited through voluntary sampling. Data were analyzed using PLS-SEM with a disjoint two-stage approach. The results indicated that religiosity was positively associated with financial resilience, which, in turn, was positively associated with psychological well-being, as reflected in a significant indirect association of religiosity with psychological well-being via financial resilience. Frugal behavior, however, was significantly and negatively associated with psychological well-being. Given the modest explanatory power of the model, these findings should be interpreted as statistical associations rather than causal effects. Nevertheless, they suggest that strengthening financial resilience may represent a practical strategy for supporting the psychological well-being of working students through university and stakeholder initiatives.]]>
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