The Impact of Financial Literacy on Financial Well-Being: The Meditational Role of Personal Finance Management

This comprehensive review examines the intricate relationship between financial literacy and financial well-being from 2010 to 2023. It synthesizes findings from various studies and underscores the critical role of personal finance management as a mediating factor. The research demonstrates that higher financial literacy is associated with more responsible financial behaviors, influences retirement planning decisions, and significantly impacts overall financial health. The implications highlight the importance of targeted financial education and interventions to equip individuals with the knowledge and confidence needed for effective personal finance management.