Enhancing the Measurement of Financial Literacy: Integrating Digital Dimensions for Inclusive Financial Well-Being
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Abstract
Despite global initiatives to strengthen financial capability, existing measurement frameworks often fall short in capturing the behavioural and digital dimensions essential for promoting inclusive financial well-being in a rapidly digitising economy. This study aims to enhance the conceptual and general literature of financial literacy measurement by systematically reviewing recent scholarly. A qualitative content and thematic analysis was conducted on 35 Scopus-indexed articles published between 2024 and 2025, focusing on the integration of behavioural finance theories and digital inclusion practices. The findings reveal critical intersections among financial literacy, behavioural intentions, and digital competencies, supported by frameworks such as the Theory of Planned Behaviour and Theory of Reasoned Action. Emerging trends highlight the transformative potential of AI-driven tools, workshops, gamified learning, and mobile financial services in reshaping financial education and behaviour. The study also underscores the role of digital empowerment in mitigating financial exclusion and recommends the adoption of culturally sensitive, multi-dimensional measurement instruments. This review advances a more inclusive and responsive agenda for financial well-being in diverse socio-economic contexts by reframing financial literacy as a dynamic behavioural construct moderated by digital access and psychological factors.
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