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Religiosity is important for religious people to maintain their subjective well-being (SWB). We propose a dual-path effect hypothesis to explore different working mechanisms of religious faith and practice on benefiting people’s SWB. Religious faith can promote SWB mainly via an intrinsic meaning-making path although religious practice can promote SWB via both an intrinsic meaning-making path and an extrinsic capital-accumulating path. If the dual-path effect hypothesis stands, then the role of religious practice in influencing SWB should be partly substituted by good economic status, but the role of religious faith should not. Then, only the effect of religious practice would be moderated by wealth. Results show that people’s individual income and national GDP have significant moderating effects on the relationship between religious practice and SWB, but they had no moderating effect on the association between religious faith and SWB, indicating wealth could be an alternative source of accumulating capital and social resources between religious practice and SWB. Results provide important evidence for the dual-path effect hypothesis. The findings uniquely contribute to the literature of religiosity, SWB, and their connections with wealth. Implications for future research are also discussed.

Could Wealth Make Religiosity Less Needed for Subjective Well-Being? A Dual-Path Effect Hypothesis of Religious Faith Versus Practice