Digital financial literacy and its impact on financial behaviors: A systematic review

Title

Digital financial literacy and its impact on financial behaviors: A systematic review

Creator

Jose J.; Ghosh N.

Description

The dependence on digital financial technologies influences financial behaviors among people. This systematic review aims to identify and understand the variables interplay between digital financial literacy and financial behavior. The systematic literature review uses the PRISMA systematic review guidelines to identify and screen the literature. The results show there is a positive significant relation between digital financial literacy and financial behaviors. It was found that there are minimal studies on the variables interplaying between digital financial literacy and financial behavior. The interplaying variables identified are financial self-efficacy, financial confidence, self-control, financial autonomy, financial capability, psychological biases and digital, financial socialization, and socio-economic and demographic factors. This review develops a framework for future exploration explaining the relationship between digital financial literacy and financial behavior identifying financial wellbeing as the outcome. 2024 by IGI Global. All rights reserved.

Source

Contemporary Research and Practices for Promoting Financial Literacy and Sustainability, pp. 147-179.

Date

2024-01-01

Publisher

IGI Global

Coverage

Jose J., Christ University, India; Ghosh N., Christ University, India

Rights

Restricted Access

Relation

ISBN: 979-836930864-6; 979-836930863-9

Format

Online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.4018/979-8-3693-0863-9.ch006

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85204552947&doi=10.4018%2f979-8-3693-0863-9.ch006&partnerID=40&md5=4f926be5a7a4957c7bc0b810a8383a59