Is Woman a Homogeneous Category? Understanding Latent Factors of Financial Literacy and Financial Well-Being

Khan, Firdaus; Surisetti, Srinivas

doi:10.1007/978-981-19-0460-8_23

Cited by 2 publications

(2 citation statements)

References 31 publications

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“…Overall, individuals with higher FL have improved financial wellbeing (for example, by planning for their retirement), and are more likely to set aside money for saving (i.e., financial coping behaviour) (de Bassa Scheresberg, 2013). Similarly, some recent studies (e.g., Nițoi et al, 2022;Khan and Surisetti, 2022) also found significant association between FL and financial wellbeing and related financial (coping) behaviours. In the context of Saudi Arabia, Alshebami and Aldhyani (2022), Saber (2020) and Shehata et al (2021) examined the association between FL, saving behaviour, financial wellbeing and other financial behaviours among different segments of respondents in Saudi Arabia.…”

Section: Fl Financial Wellbeing and Financial Self-efficacysupporting

confidence: 66%

“…A gendered consideration of FL highlights several implications for women specifically. First, existing research across different contexts highlights that, women financial knowledge about debt literacy, confidence, enthusiasm, and even willingness to learn than men (Atkinson et al, 2006;Borden et al, 2008;Lusardi and Mitchell, 2008;Lusardi, 2008;Lusardi and Tufano, 2015;Nițoi et al, 2022;Khan and Surisetti, 2022). Second, women's financial autonomy and decision-making freedom may be constrained by a range of socio-institutional factors.…”

Section: Introductionmentioning

confidence: 99%

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Financial education is precious than money-Examining the role of financial literacy in enhancing financial wellbeing among Saudi women

Badghish¹,

Ali²,

Yaqub³

et al. 2024

IJBPM

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The study explores the role of financial literacy, financial socialisation, and certain demographic characteristics (such as income, education, father's education and mother's education) in enhancing financial wellbeing through developing/promoting financial self-efficacy and financial coping behaviours, among Saudi women. There is sparse research evidence available in the literature that examines the levels of financial literacy among Saudi women and how it contributes to their financial wellbeing and the related financial behaviours, this paper therefore, provides important evidence to bridge this important research gap. Based on PLS-based path modelling performed over a set of 1,338 responses from Saudi women, we found a significant positive effect of both the antecedents (i.e., financial literacy and the financial socialisation) on financial wellbeing mediated through financial self-efficacy and (financial) coping behaviours. Similarly, demographic characteristics including women respondents' income, education, father's education, and mother's education are partially positively related to financial self-efficacy as well as the financial coping behaviour. However, demographic characteristics were not seen to be significantly related to financial wellbeing. Besides bridging significant research gaps in the literature, this study provides practical implications for Saudi women to enhance their financial wellbeing through enhancing financial literacy and financial socialisation.

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