Financial Education and Personal Finance: A Systematic Review of Evidence, Context, and Implications from the Spanish Language Academic Literature in Latin America

The growing complexity of financial markets, driven by globalization and digitalization, has increased the need for individuals to make informed financial decisions. In this context, financial education and personal finance have become crucial areas of study. This systematic review aimed to identify and analyze the existing scientific evidence on these topics, determine the countries contributing to the literature, and extract key conclusions and lessons. A comprehensive search was conducted across the Scopus, Scielo, and La Referencia databases using keywords in Spanish. The initial query yielded 97 documents, which were filtered using seven inclusion and exclusion criteria, resulting in a final sample of 19 relevant articles. The reviewed studies highlight that financial education is a key factor in promoting economic well-being, reducing over-indebtedness, supporting entrepreneurship, and enhancing social inclusion. The effectiveness of financial education depends on equitable access to information, the use of digital tools, tailored approaches for diverse populations, and systematic program evaluation. The findings suggest that collaborative efforts between governments, educational institutions, and the financial sector are necessary to develop inclusive and practical financial education strategies, particularly for vulnerable populations. Financial education must be approached as a continuous, adaptive process to effectively respond to evolving economic challenges.