THE INTELLECTUAL STRUCTURE AND THEMATIC EVOLUTION OF FINANCIAL LITERACY AND ITS INFLUENCE ON FINANCIAL WELL-BEING: A BIBLIOMETRIC ANALYSIS

Abstract

Financial well-being is a critical component of overall life satisfaction, with financial literacy widely recognised as a key enabler. However, the existing research connecting these two domains is fragmented. This study addresses this gap by conducting a comprehensive bibliometric analysis to systematically map the intellectual structure of the field, trace its thematic evolution, and identify key research clusters and future directions. Employing bibliometric methods, this study analysed 63 articles retrieved from the Scopus database, covering the period from 2014 to 2025. The analysis utilises VOS viewer software to generate and visualize networks of keyword co-occurrence, revealing the core themes and their interconnections. The analysis identifies four dominant thematic clusters. The first centres on foundational concepts like financial knowledge and education. The second highlights a shift towards behavioural and psychological dimensions, including risk tolerance and self-control. A third, more recent cluster focuses on vulnerable populations and specific contexts, such as developing countries, women, and the impact of the COVID-19 pandemic. The fourth cluster points to emerging trends, particularly the rise of digital financial literacy and FinTech. A crucial insight is the field's evolution from a narrow focus on cognitive knowledge to a holistic paradigm where financial behaviour is a key mediator, and knowledge alone is insufficient to improve financial outcomes. This study provides a comprehensive map of a dynamic and maturing research domain. It recommends that future research prioritise context-specific models and the impact of digitalisation. For policymakers and educators, the findings advocate for interventions that move beyond simple information provision to cultivate the positive financial behaviours and attitudes essential for enhancing long-term financial well-being.