Financial Literacy for Financial Well-Being and Economic Security

Authors

Reza Satrio Azi Universitas Mercu Buana, Jakarta

DOI:

https://doi.org/10.54518/fid.2.1.2024.1253

Keywords:

Financial Literacy, Financial Knowledge, Financial Well-Being, Financial Education, Personal Finance, Financial Capability

Abstract

Financial literacy has become increasingly important as individuals face more complex financial decisions and greater responsibility for managing personal finances. This study examines the role of financial literacy in promoting financial well-being and economic security through a qualitative Systematic Literature Review (SLR) guided by the PRISMA 2020 framework. Relevant studies published between 2019 and 2023 were collected from major academic databases and analyzed using thematic synthesis. The findings indicate that financial literacy improves financial decision-making, supports responsible financial behavior, and enhances financial well-being. The review also reveals that financial literacy strengthens economic security by improving financial resilience, saving behavior, and debt management practices. Furthermore, digital financial literacy has emerged as an important component of financial capability in modern financial environments. The study concludes that financial literacy serves as a key foundation for achieving financial well-being and long-term economic security.

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Published

2024-06-30

How to Cite

Azi, R. S. (2024). Financial Literacy for Financial Well-Being and Economic Security. Finance Innovations Digest, 2(1), 60–78. https://doi.org/10.54518/fid.2.1.2024.1253