Financial well-being, an important determinant of life satisfaction, is influenced by economic volatility as well as cognitive and psychological factors, which shape individuals’ financial behaviour and ultimately affect their financial well-being. The study finds out that the interplay between the psychological trait of delayed gratification and financial well-being, while also investigating the mediating role of financial behaviour in this relationship. The current study examines the proposed hypotheses among young adults aged 18 to 40 years and adopts a quantitative research approach within a cross-sectional research framework. Data were collected from 196 respondents in Himachal Pradesh, India, and the collected data were analysed using (PLS-SEM). Our results show that delayed gratification significantly and positively affects financial behaviour and financial well-being. Furthermore, financial behaviour significantly mediates the relationship between delayed gratification and financial well-being.