The study aims to measure the effectiveness of the project management information system (PMIS) and its impact on financial wellness in rural areas. The study uses DeLone and McLean’s updated information success model to measure the net impacts of the PMIS on the community. The dynamics between the PMIS and financial wellness have not yet been clarified, as the available literature on the concerned domain is very limited; thus, further research is required to report the effect of the PMIS on financial wellness. A total of 628 samples were analyzed from 666 collected through structured questionnaires and stratified sampling from 21 hill blocks from the hills of Uttarakhand. Exploratory–confirmatory factor analysis and path analysis were both conducted using SPSS and AMOS. The study found that PMIS quality, information quality, and service quality are significantly important for the PMIS, and its impact on the net benefits derived from PMIS was studied. The results also reveal that the net benefits of the system impact the financial behavior and financial attitudes of SHGs and cooperative members, consequently significantly impacting financial wellness. This study proposes and tests the information system (IS) financial wellness (FW) model for community-based development programs in the lines of the logical framework approach and the stimulus–organism–response framework.