Despite the evidence of the relationship between types of the economic behaviors and certain components of psychological time, there is no holistic model, explaining the relationship between them. The purpose of this study is to develop and verify such a model. According to the theoretical model, psychological time can act as an internal factor, which, when interacting with other internal and external variables, serves as a predictor of changes in economic attitudes. Model verifi cation was carried out on the sample of the residents of the south-western part of the Russian Federation (N = 1 356, MAge 25.27, 41% of male). We use the following methods: Life Satisfaction Scale, PVQ-RR, Subjective Income Level Scale, Economic Attitudes Questionnaire, Inventory of Polychronic Values, Attitudes towards Time, Zimbardo’s Time Perspective Inventory, Inventory of Time Value as an Economic Resource by Usunier. The empirical model confi rms the theoretical one. The escapist orientation (the combination of orientation to the past negative, present fatalistic and present hedonistic) contributes to the reduction of the level of subjective economic well-being. On the contrary, the harmonious orientation (the combination of the future orientation, past positive and present hedonistic) increases the level of subjective economic well-being indirectly — through the shaping of the future confi dence based on fi nancial literacy. The signifi cant contribution of life values and the less signifi cant contribution of gender and age in shaping the time orientations were found. The study contributes to the understanding of the signifi cance of the perception and experience of time in the economic life for the formation of one’s well-being.