This study examined the construct validity of a model and measure of life balance conceptualized as both congruence among desired and actual time spent in activities, and equivalence in the degree of discrepancy between desired and actual time spent across activities that meet health, relationship, challenge/interest and identity needs. The life balance inventory (LBI) was used as the measure for life balance and was pre-tested for construct validity. Structural equation modeling was used to test the hypothesized relationships between life balance (LBI), perceived stress (DASS21 stress subscale), personal well-being (PWI-A), and need satisfaction (BPNS) in the hypothesized life balance model (LBM). Four hundred and fifty eight participants representing mixed demographic groups participated in the study by completing the 4 instruments. SEM results indicated that congruence, moderated by equivalence predicted lower stress, higher personal well-being and higher need satisfaction, but equivalence alone did not. Working, having children at home, and being non-white negatively moderated congruence and larger family size positively moderated congruence. This study provides initial construct validity evidence for the hypothesized model and measure of life balance.