Unraveling the Nexus: Financial Literacy & Personal Finance Dynamics

Abstract

Efficient personal finance management requires a proficiency of the financial literacy’s determinants, which encompasses financial knowledge, financial attitude, and financial behavior (Yahaya et al., 2019). One can examine their impact on financial decision-making processes by focusing on them. A thorough framework for evaluating the effect that financial literacy has laid on personal financial management is provided by concentrating on financial stress, risk tolerance, investment choices, and retirement planning within the context of personal finance. To enhance financial outcomes, the research attempts to clarify the complex relationship between personal finance management and financial literacy.