THE INFLUENCE OF FINANCIAL LITERACY ON ECONOMIC BEHAVIOR: A COMPREHENSIVE REVIEW

Anna Chavez

Date of Award

2025

Document Type

Thesis

Degree Name

Bachelors

Department

Social Sciences

First Advisor

Collins, Tracy

Area of Concentration

Liberal Arts with Economics

Abstract

This thesis investigates the impact of financial literacy on individual and societal outcomes, with consequences that extend beyond individual households to affect broader economic systems. Particularly vulnerable groups—such as women, minority populations, and younger generations—demonstrate lower financial literacy scores, emphasizing the need for targeted interventions. Ultimately, the study advocates for a systemic approach to financial education as a means to promote widespread economic growth and societal stability. economic behavior, offering a comprehensive examination of how knowledge, attitudes, and decision-making capacity shape financial well-being. Drawing on both theoretical insights and empirical research, the study highlights the pivotal role of financial education in equipping individuals to navigate an increasingly complex financial landscape. Key findings reveal persistent disparities in financial literacy across demographic lines, including age, race, gender, and socioeconomic status. These inequalities contribute to a range of economic challenges, such as over-indebtedness, underinvestment, and increased vulnerability to financial exploitation. Through extensive literature review and data analysis, this research underscores the link between financial knowledge and responsible economic behaviors, such as saving, budgeting, and investing. Evidence from national surveys and academic studies illustrates how perceived and actual financial literacy jointly influence financial

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