Ensuring a sound level of financial well-being and mitigating financial stress are essential aspects of life in Nordic countries. Proper knowledge of financial matters and sound financial planning are important to secure these aspects. Considering earlier research, the current study develops a questionnaire and collects over 1000 valid responses from various regions in Sweden. The study utilizes Partial Least Squares Structural Equation Modeling (PLS-SEM) to test the relationships between financial capability, on the one hand, and financial well-being and stress on the other hand. Moreover, the study considers the mediation role of financial planning and financial vulnerability. In a further step, the study uses the dichotomization technique to test the moderating role of financial technology and social media usage, several saving habits, and having a low-quality borrowing profile (loan rejection and serving a loan with a high-interest rate). The study concludes with insights that help households improve financial well-being and control the negative consequences of financial stress.