IntroductionThis study investigates how emotional regulation and economic predictors influence life satisfaction. The mental health of university students is currently a global concern. Therefore, it is essential to identify protective factors that promote well-being in this population.MethodA total of 1,030 students participated in the study (624 women and 406 men; aged between 18 and 30 years) from two private universities in Arequipa, Peru (M = 19.9; SD = 2.2).ResultsThe findings showed that cognitive reappraisal was positively related to life satisfaction (r = 0.255) and economic predictors (r = 0.173). Expressive suppression showed negative relationships with life satisfaction (r = −0.095). Subsequently, a PLS SEM analysis was performed, where the exogenous variables such as emotional regulation and economic predictors explain 35.9% of the variance in life satisfaction (R2 = 0.359).DiscussionThese findings suggest that interventions aimed at improving well-being should adopt a multidimensional approach, integrating both the strengthening of emotional regulation skills and economic well-being among university students.