Identifying factors affecting financial literacy: a review study

Subject Areas : Bi-quarterly Journal of development economics and planning

mohsen molapanah ¹ ( Student of Islamic Azad University, Ardabil Branch )
Yousef Namvar ² ( Department of Educational Sciences, Ardabil Branch, Islamic Azad University. Ardabil. Iran )
azam rastgoo ³ ( Department of Educational Sciences, Faculty of Humanities, Ardabil Branch, Islamic Azad University, Ardabil, Iran. )
majid ahmadlu ⁴ ( Management, Humanities, Islamic Azad University of Ardabil )
turan soleimani ⁵ ( Assistant professor of the department of the educational sciences , Ardabil Branch , Islamic, Azad university, Iran ,(Corresponding Auther): t.soleimani12@ gmail.com )

Received: 2023-10-27 Accepted : 2023-12-16 Published : 2024-01-13

Keywords: financial literacy, financial knowledge, financial attitude, financial behavior, factors affecting financial literacy,

Abstract :

Financial literacy has become an important concern due to the changing financial landscape in recent years. The purpose of this research is to identify the factors affecting financial literacy. The study was conducted using a qualitative and library method. Descriptive research method is an analysis done using library resources. In order to conduct this research, published articles, documents and research related to the subject of financial literacy using the keywords of factors affecting financial literacy, financial literacy, financial attitude, financial behavior, financial knowledge and also the English translation of these keywords in the databases Authentic information was searched, including the database of the Academic Jihad Scientific Information Center, Google Scholar, Maghiran, and the comprehensive human sciences database. The findings of this study indicate that various factors are effective in people's financial literacy, which include various important factors such as gender, age, marriage, education, income and employment, attitude and behavior. In general, the basic idea behind financial literacy is the knowledge of personal financial management by each individual. But no one can manage their funds effectively without financial skills and knowledge. Dominant socio-demographic factors: age, gender, income, education and psycho-social factors: revealed religious prejudice, despair and financial satisfaction. This research has been done in line with the development of the theoretical framework of factors affecting financial literacy based on the reviews of recent studies.