THE NEXUS AMONG FINANCIAL KNOWLEDGE, FINANCIAL BEHAVIOR, FINANCIAL INCLUSION AND FINANCIAL WELLBEING: EVIDENCE FROM PAKISTAN

Abstract

This study aimed to examine the relationships among certain that are vital in determining financial wellbeing in different situations and contexts. This study aimed to examine the potential linkages among the research issues and found that factors such as knowledge, behaviors, and involvement in the financial system have an impact upon financial well-being. The research used specific sampling method known as purposive sampling and a sample size of 810 participants from Punjab, Pakistan. Data was collected through a Google forms questionnaire and analyzed using PLS (partial least squares) technique. Findings show that financial well-being is influenced by financial literacy, behaviors, and inclusion. Additionally, research shows that financial behavior and inclusion act as mediators for relationships between monetary education and money related well-being. Thus, the study offered significant information in reaching conclusions and offering certain recommendations to policy makers, stakeholders and future researchers about the issues under considerations.