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Financial well-being and financial behavior: a bibliometric analysis

Author

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  • Sayed Ehsan Saeedi

    (Farook College)

  • T. Mohamed Nishad

    (Farook College)

Abstract

The main objective of this study was to map out the concept of financial well-being and financial behavior using a bibliometric analysis to identify top-cited articles, leading countries, institutions, authors, and journals, while also exploring key themes and emerging research avenues in this domain. A total of 211 articles extracted from the Web of Science database (1991– July 2023) were analyzed using VOSviewer and Biblioshiny software. Key findings revealed the evolution of financial well-being from a narrow focus on income and wealth accumulation into a more comprehensive view that considers various facets of an individual’s financial life. The analysis also indicated the need for context-specific models, exploring rural and elderly populations, psychological processes that promote disciplined financial behaviors, and novel approaches such as gamification to improve individual financial well-being and financial behavior. The findings challenge the conventional emphasis on financial literacy and show that knowledge alone is insufficient. This supports a shift towards integrating behavioral and psychological components into financial education and interventions.

Suggested Citation

  • Sayed Ehsan Saeedi & T. Mohamed Nishad, 2024. "Financial well-being and financial behavior: a bibliometric analysis," SN Business & Economics, Springer, vol. 4(12), pages 1-24, December.
    • Handle: RePEc:spr:snbeco:v:4:y:2024:i:12:d:10.1007_s43546-024-00749-9
    DOI: 10.1007/s43546-024-00749-9
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