An integrated framework of Family Resource Management and Household Economic theory was utilized to develop a model of relationships between human capital, family characteristics and resources, number of income sources, hours spent in home production, total income and subjective well-being. This study utilized a sample of 129 women systematically selected from Machinga and Zomba Districts in Malawi. Results of Path analysis showed that place of residence, primary education and secondary education or above had positive direct relationships to number of income sources. Variables which had significant negative relationships with hours spent in home production were place of residence and age. Access to farm technologies had a positive relationship. The positive predictors of total income were: primary education, secondary education or above, number of income sources, place of residence, land holding size and access to farm technologies. Home production time and health status were negatively related to total income. Total income and hours spent in home production were significant and positively related to a well-being score, derived from four measures of well-being. Health status was negatively related to this score. Five variables: place of residence, age, primary education, secondary education or above and access to farm technologies had indirect effects on total income through number of income sources and home production. All independent variables entered had indirect effects on the well-being score through total income and hours spent in home production. Number of income sources only mediated the effects on the well-being score jointly with total income. On the whole, both intervening variables did a fair job of mediating the effects of independent variables on total income and subjective well-being (well-being score). Finally, household size, health status and subjective well-being significantly affected overall satisfaction with life. This study has implications for policy, education/training and research in order to enhance women's well-being. / Graduation date: 1996