Financial Literacy, Financial Technology, Personality Trait and Personal Saving Orientation: A Comprehensive Review
Keywords:
financial literacy, FinTech, financial education, saving behavior, economic behaviorAbstract
Purpose: Education, knowledge, and awareness, known as financial literacy, financial technology (FinTech), and personal saving orientation are essential agenda in the economic discourse. This review aims at integrating current literature on these themes with the view of analyzing their connections and relevance on economic behavior.
Method: A combination of sources is evaluated in the course of the study, using literature review procedures; the research seeks to establish how financial education, technological advancement, and personal perspectives on saving are connected.
Findings: The analysis reveals a positive correlation between financial literacy and saving orientation, mediated by financial attitudes and education. Unexpectedly, some studies highlight a digital divide, where access to FinTech varies based on socioeconomic status, potentially exacerbating financial inequalities. Some implications for further research are presented, which reflect the directions that the authors found to be understudied in contemporary literature.
Novelty: This study extends financial education and financial knowledge idea by defining the financial literacy as knowledge, which allows applying the financial information to the benefit of the person to make a decision. This not only expands but also improves the evaluation of the society’s financial literacy by providing a broader approach of how knowledge is leveraged into managing an individual’s financial resources and the decisions affecting his or her future well-being.
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