Open research questions in Financial Literacy, Pension, Retirement Analysis

What the literature leaves open

• Additionally, the relatively small corpus (31 articles) reflects the emerging nature of BNPL research and may limit coverage, especially for underexplored dimensions such as investing behavior for young adults.

  Bridging the Integration Deficit: Developing an Integrated Psychosocial-Financial Health Model for Buy Now, Pay Later Adoption · 2026 · DOI

• The limitations of this study lie in the primary data collection, which relied entirely on self-reported online questionnaires, the limited sample size of 100 respondents from urban Yogyakarta, and the general nature of technology adoption modeling without distinguishing the specific characteristics of each fintech platform. Furthermore, future research is recommended to integrate new behavioral variables such as self-control and materialistic lifestyle, or differentiate specific types of fintech platforms (e.

  Financial LiteracyAnd Leverage With Adoption of Financial Technology As a Moderating Influence on Financial Well-being · 2026 · DOI

• Based on the findings of this study, the following recommendation is proposed: The finding shows that, the overall level of financial literacy amongst the respondent as moderate. Further the study indicated that respondents have low level of financial behaviors. From the three financial behaviors, saving, spending and investment, spending behavior is the lowest. Therefore, to improve the overall financial literacy of the respondents and financial behaviors, financial literacy programs and awareness should be conducted to make respondents more financially literate. Further financial literacy programs should not only aim to increase their knowledge but also emphasize the development of favorable financial practices and attitudes.

  A Study on Financial Literacy and its Impact on Decision-Making Capability among the Faculty of Paro College of Education · 2026 · DOI

• The central contribution of this study is to identify financial mindfulness as the behavioral mechanism—rather than merely a correlate—that partially transmits the effect of financial self- efficacy on financial well-being within the under-studied Indonesian sandwich generation.

  Financial Well-Being and Self-Efficacy in Sandwich Generation: The Role of Mindfulness · 2026 · DOI

• Future research could address these limitations by using more diverse samples, incorporating additional control variables, financial behaviour, and combining self-reported and objective financial behaviour data. that 44 Mindfulness and Financial Behaviour among Students: The Role of Financial Self-Efficacy and Gender In addition to testing the mediation model and examining whether the indirect effect differed by gender, the study examined gender differences in financial behaviour, mindfulness, and financial self-efficacy, given the mixed findings in prior research.

  Mindfulness and Financial Behaviour Among Students: The Role of Financial Self-Efficacy and Gender · 2026 · DOI

• • The study is limited by a small sample size of 51 respondents, which restricts the generalizability of the findings beyond the study context. • The use of convenience sampling may introduce selection bias and limit the representativeness of the sample. Vol.2 No.2 2026 170 | P a g e Milky Way Scientific Journal (MWSJ) Doi: https://doi.org/10.65021/mwsj.v2.i2.36 ISSN: 3069-6399 www.mwsJournal.com _______________________________________________________________________________________________________________________________ • This specific sample size is due to the fact that Bhakta Kavi Narsinh Mehta University (BKNMU) is a relatively newly established institution with a developing institutional structure and a limited pool of permanent salaried women employees at this stage. • The research is cross-sectional in nature, and the analysis is limited to descriptive statistics and Chi-square tests; the findings should be interpreted as exploratory rather than definitive causal conclusions. 15. CONCLUSION This study evaluated the financial Knowledge ecosystem of salaried women employees at Bhakta Kavi Narsinh Mehta University (BKNMU), exploring the critical linkages between institutional academic employment, savings habits, and independent decisionmaking autonomy. The empirical analysis indicates that while highly educated women within this academic environment maintain high financial awareness and disciplined savings habits, a cultural and cognitive gap persists that limits independent financial decision-making execution. Furthermore, while higher educational qualifications play a key role in building strong financial knowledge, factors like age and income brackets do not automatically guarantee individual financial autonomy or risktaking confidence among the respondents. Ultimately, because BKNMU is a recently established university, its growing female workforce represents a progressive yet transitioning demographic. Achieving true financial empowerment within this ecosystem requires moving beyond basic financial education toward practical capability building. Implementing targeted institutional financial programs, improving accessibility to digital banking tools, and encouraging independent wealth management will help salaried women participate more effectively in macroeconomic systems, fostering long-term financial independence and sustainable economic well-being. ETHICS STATEMENT This study was conducted following ethical research practices. Participation of respondents was voluntary, and all information collected through the questionnaire was kept confidential and used solely for academic research purposes. FUNDING STATEMENT The author received no specific financial support, grant, or funding from any public, private, or non-profit organisation for conducting this research.

  <b>Financial Knowledge, Saving and Investment Behavior, and Financial Decision Making Among Salaried Women: Evidence from BKNMU, Junagadh City</b><b></b> · 2026 · DOI

• or theoretical limited resulting perspective, integration between organizational resources, adaptive capabilities, and institutional influences. external in finance, an Furthermore, recent disruptions, including the COVID-19 pandemic and geopolitical conflicts, have shifted scholarly attention toward resilience and crisis adaptation(Bondarenko et al., 2025; S. Wang & the and internal capabilities, mechanisms, development Esperança, 2023). However, the literature still lacks a comprehensive framework that simultaneously adaptive incorporates emerging resilience transformative drivers such as digitalization and green finance. Consequently, existing knowledge remains dispersed across multiple research streams, holistic limiting understanding of SME financial sustainability in emerging economies.

  The Architecture of Endurance: A Systematic Review of SME Financial Sustainability in Emerging Markets · 2026 · DOI

• Considering the results of the study, the following recommendations are forwarded. • Enhancement of Financial Literacy: Implement targeted programs improve budgeting, to savings planning, and risk management skills, incorporating culturally relevant practices such as group savings schemes. • Promotion of Gender-Inclusive Policies: Develop interventions that empower women to save financial services equitably. Encourage households to distribute saving responsibilities and family support more evenly across genders. independently and access • Strengthening Savings Mechanisms: Expand access to formal banking, mobile banking, and microfinance products for households with limited resources. Integrate community-based savings initiatives like Ayuuto with formal financial financial to inclusion.

  The Influence of Social Norms on the Saving Behaviour of Somali Households in Mogadishu, Somalia · 2026 · DOI

• 3 Future Research Directions The findings and limitations of this study open several productive avenues for future inquiry, spanning methodological, theoretical, and thematic dimensions. Prior Nigerian studies such as Olatunji and Adegbite (2018) and Nwankwo (2014) estimated the inflation-savings relationship in reduced-form single-equation specifications that did not account for the role of mental accounting and financial literacy.

  Mental accounting, financial literacy, and savings behaviour in Nigeria: Evidence from a high-inflation environment · 2026 · DOI

• To assist consumers who are struggling with being in too much debt and to improve their overall wellbeing, several recommendations can be made. Firstly, providing financial education can teach people how to borrow responsibly, draw up budgets and manage their debts better. This can be a preventative measure from getting into debt related problems in the first instance. At the same time, stronger rules and laws should be put in place to protect consumers from unfair lending and help those already in debt to find relief easier. It is also important to make debt counselling services more available and to encourage people to use them early before their financial situation worsens. Public campaigns should aim to reduce the stigma around debt as so people feel safe talking about their problems without feeling ashamed. This support can help both their financial and their mental health. Employers and community groups can help by promoting programmes that offer financial advice and mental health resources. Furthermore, stronger collaboration between financial institutions and social services can facilitate early intervention thereby helping at-risk individuals 92 Sewnunan & Suknunan, International Journal of Research in Business & Social Science 15(3) (2026), 86-95 before their financial difficulties escalate further. Lastly, ongoing research is needed to better understand why people fall into debt and what interventions can be made.

  Impact of consumer over-indebtedness on consumer wellbeing through a qualitative exploration in a South African setting · 2026 · DOI

• To address the financial challenges faced by teachers' families, several policy interventions by authorities and teachers themselves are necessary. Such as Increasing salaries and providing allowances for professional expenses can alleviate economic strain. Prompting teacher’s spouse to improve his/her job skills that lead to higher income. Trying to gain higher educational degrees. Since Kurdistan Region Government (KRG) has ceased all kinds of financial promotions for teachers and employees, reducing the levels of inflation by controlling and monitoring prices of goods and services would be needed. Financial for educators and students could empower them to manage budgets, reduce debt, and increase savings effectively particularly for teachers whose children study at private schools. Expanding access to healthcare, housing subsidies, and retirement benefits can further stabilize their household finances and improve their quality of life. literacy programs tailored Improving the financial well-being of teachers' families involves strategies that address both spending and saving habits, such as: 1. Establish and follow a family budget: Creating a detailed family budget is essential for managing expenses and identifying opportunities to save. By monitoring income and expenditures, families can prioritize spending, reduce unnecessary costs, and allocate funds toward savings goals. This approach promotes financial discipline and provides a clear plan for achieving financial objectives. 2.

  Identifying the Significant Factors that Influence Teachers Families Consumption and Savings in Erbil Governorate · 2026 · DOI

• • To address gaps in financial literacy, particularly in understanding inflation, economic trends, and long-term financial planning, it is recommended that the proposed Digital Finance Education Program include modules on macroeconomic awareness, investment basics, and future financial planning. This will help users move beyond transactional knowledge and develop a more comprehensive understanding of financial concepts. Since lower engagement was observed in advanced financial behaviors such as investment and deeper financial decision-making, digital finance application developers and educators should enhance features and training related to investment tools, goal-setting, and financial analysis. Interactive tools, simulations, and guided financial planning activities can help strengthen higher-level financial behavior. • • To improve financial self-efficacy, especially in handling technical difficulties and financial pressure, the program should include confidence-building strategies such as hands-on training, scenario-based learning, and problem- solving exercises. Providing user support systems, tutorials, and troubleshooting guides within applications can also help users feel more capable in managing challenges. • Given the lower perception of digital finance in expanding access to credit services, developers are encouraged to improve awareness, transparency, and accessibility of credit-related features. Educational components should also guide users on responsible borrowing, credit management, and risk assessment to enhance their understanding and usage of these services. • To address the limited impact of digital finance on reducing financial stress, the program should incorporate 1077 World Journal of Advanced Research and Reviews, 2026, 30(02), 1065-1080 financial wellness components such as stress management, financial planning under uncertainty, and decision- making strategies during economic challenges. Integrating behavioral and emotional support can help users achieve a more holistic sense of financial well-being. • Digital finance providers should continue enhancing user-friendly features that support budgeting, expense tracking, and savings, while also gradually introducing more advanced tools in a simplified manner. This ensures that users can transition from basic to more complex financial management practices without difficulty. • Future researchers are encouraged to further evaluate the effectiveness of the proposed Digital Finance Education Program and explore additional factors that may influence financial well-being, such as psychological, social, and economic variables. Comparative and longitudinal studies may provide deeper insights into how financial behaviors and outcomes evolve over time.

  Usage of digital finance applications and the financial well-being of Gen-Z Users in Calapan City, Oriental Mindoro · 2026 · DOI

• Based on the research findings, the following recommendations are proposed to enhance the social security landscape in Tanzania: Strengthen Governance and Leadership Accountability: The government should institutionalise more rigorous governance structures within social security agencies. Implementing transparent management systems, mandatory periodic audits, and robust anticorruption frameworks to bolster institutional credibility and restore beneficiary trust. Optimise Investment Management and Oversight: Social security schemes must transition toward diversified, high-yield investment portfolios that prioritise liquidity and long-term sustainability. It is recommended that regulatory bodies enhance oversight to ensure that capital allocation aligns with the dual goals of financial profitability and positive social impact. is essential Reform Benefit Computation and Policy Equity: A comprehensive review of benefit computation formulas is necessary to ensure they reflect current economic realities, such as inflation and the cost of urban living. Collaborative efforts between the government and social security agencies should focus on harmonising policies to eliminate existing disparities in pension rates, ensuring equity across different retiree cohorts. Modernise the National Social Security Policy: The National Social Security Policy (2003) requires a comprehensive legislative update to align with contemporary frameworks, specifically the PSSSF Act No. 2 of 2018 and the NSSF Act of 2018.

  Assessment of Government Support for Social Security Services on Improving the Socio-Economic Welfare of Retirees in Kinondoni District · 2026 · DOI

• This study acknowledges the following limitations, which should be considered when interpreting and generalizing the findings: • Geographical Specificity: The study is confined to a single Tier-III city, limiting the geographic generalizability of findings to other Tier-III or smaller urban settings across India's diverse regional contexts. • Self-Reported Data: Responses to Likert-scale items are susceptible to social desirability bias and recall inaccuracies, potentially inflating awareness and investment quality perceptions. • Cross-Sectional Design: The study captures a snapshot of investment behaviour at a single point in time, precluding causal inferences or the examination of longitudinal changes in awareness and behaviour patterns. © 2026 The Author(s). Published by IJCOPE Journal. Website: https://ijcope.org/ 12 International Journal of Creative and Open Research in Engineering and Management ISSN: 3108-1754 (Online) Volume 02 Issue 04 April-2026 | Impact Factor: 3.5 • Sampling Constraints: The use of purposive and snowball sampling, while practical, may introduce selection bias; findings should be interpreted with appropriate circumspection regarding representativeness. • Construct Operationalization: Psychological constructs such as overconfidence and herding are operationalized through self-report items, which may not fully capture the multidimensional nature of these biases as assessed in controlled laboratory settings. • Omitted Variables: The study does not capture macro-economic variables (inflation expectations, interest rate environment) or institutional factors (broker quality, platform usability) that may independently influence investment decisions. Future research should employ longitudinal panel designs, multi-city comparative frameworks, and experimental or quasi-experimental methodologies to overcome these limitations and further refine the theoretical model proposed herein.

  Investor Awareness and Behavioural Influences on Saving and Investment Decisions: Evidence from Young Professionals in A Tier-III City · 2026 · DOI

• The paper identifies that lead generating platforms exclude non-for-profit providers (credit unions, CDFIs) that could offer lower-cost alternatives, yet there is no empirical analysis of whether applicants would accept such alternatives or how loan terms differ between lead generator-sourced lenders and excluded providers.

  What Determines the Demand for Online High-Cost Credit? Evidence from Loan Applications from Digital Credit Intermediaries · 2026 · DOI

• The dataset covers only a subset of lead generators in the UK market, raising representativeness concerns for market-wide conclusions about online high-cost credit demand. A study comparing applicant characteristics and behaviors across different lead generator platforms and their market coverage would establish external validity.

  What Determines the Demand for Online High-Cost Credit? Evidence from Loan Applications from Digital Credit Intermediaries · 2026 · DOI

• The analysis of retired pensioners unexpectedly showing increased repeat applications and cashflow borrowing contradicts life cycle theory predictions. Research is needed to investigate whether insufficient retirement income, limited welfare system recourse, or other factors explain why this demographic engages in online high-cost credit borrowing through lead generators.

  What Determines the Demand for Online High-Cost Credit? Evidence from Loan Applications from Digital Credit Intermediaries · 2026 · DOI

• The counterintuitive finding that homeownership significantly increases repeat applications and cashflow applications for high-cost credit contradicts expectations and differs from USA bankruptcy filing data (Lim et al., 2021). The mechanisms underlying this surprising relationship between secure housing situations and online high-cost credit demand require further investigation.

  What Determines the Demand for Online High-Cost Credit? Evidence from Loan Applications from Digital Credit Intermediaries · 2026 · DOI

• The dataset does not include welfare benefit receipt or disability status, which prior research (Rasanga et al., 2024) identifies as determinants of AFS use. Understanding how these social support and disability characteristics interact with the observed repeat application patterns in digital credit intermediaries requires additional investigation.

  What Determines the Demand for Online High-Cost Credit? Evidence from Loan Applications from Digital Credit Intermediaries · 2026 · DOI

• Financial literacy and financial overconfidence indicators are absent from the dataset, despite prior research demonstrating their association with AFS debt and payday loan use. The relationship between these psychological-financial characteristics and online high-cost credit demand patterns via lead generators remains unexplored.

  What Determines the Demand for Online High-Cost Credit? Evidence from Loan Applications from Digital Credit Intermediaries · 2026 · DOI

• The dataset lacks information on applicant banked status and access to bank loans and transaction services, which are potentially important determinants of alternative financial services (AFS) use. This omission could explain observed differences in frequency and purpose of high-cost credit applications across demographic groups.

  What Determines the Demand for Online High-Cost Credit? Evidence from Loan Applications from Digital Credit Intermediaries · 2026 · DOI

• The dataset does not contain loan application outcomes, preventing determination of whether applicants engaging in repeat applications for consumption smoothing will actually engage in repeat borrowing for consumption smoothing purposes. This creates an important endogeneity concern that cannot be resolved with the current lead generator data structure.

  What Determines the Demand for Online High-Cost Credit? Evidence from Loan Applications from Digital Credit Intermediaries · 2026 · DOI

• Future research could address these limitations by conducting longitudinal studies to examine how financial literacy influences marital stability over time. Furthermore, future research could examine the interactions among financial literacy and other family resilience factors, such as communication patterns, gender roles, and social support networks, in order to develop a more comprehensive model of household stability and family well-being.

  Financial Literacy as Household Capability: Its Role in Strengthening Marital Stability in Emerging Indonesian Families · 2026 · DOI

• The dissertations demonstrate effectiveness in secondary education contexts at IFPI Campus Floriano, but scalability and transferability to primary education levels or different geographic/socioeconomic contexts within basic education are not addressed. Replication studies extending financial education and mathematical modeling interventions to elementary school students and different regional contexts are needed.

  O ENSINO DE EDUCAÇÃO FINANCEIRA E MATEMÁTICA FINANCEIRA NA EDUCAÇÃO BÁSICA: UM ESTUDO SOB A PERSPETIVA DO PROFMAT NO ÂMBITO DO IFPI CAMPUS FLORIANO · 2026 · DOI

• The paper identifies that traditional teaching models create theory-practice divisions in financial mathematics education, but provides no empirical analysis of how specific digital technologies (Excel, Google Sheets, financial apps) bridge this gap compared to non-digital active methodologies. Controlled comparison of technology-mediated versus technology-free active approaches in financial education is needed.

  O ENSINO DE EDUCAÇÃO FINANCEIRA E MATEMÁTICA FINANCEIRA NA EDUCAÇÃO BÁSICA: UM ESTUDO SOB A PERSPETIVA DO PROFMAT NO ÂMBITO DO IFPI CAMPUS FLORIANO · 2026 · DOI

Most-cited papers in Financial Literacy, Pension, Retirement Analysis

• The Economic Importance of Financial Literacy: Theory and Evidence · Journal of Economic Literature · 2014 · 3,595 citations
• Financial literacy: A systematic review and bibliometric analysis · International Journal of Consumer Studies · 2020 · 846 citations
• How Does Household Portfolio Diversification Vary with Financial Literacy and Financial Advice? · The Journal of Finance · 2014 · 496 citations
• Financial Fragility and Economic Performance · The Quarterly Journal of Economics · 1990 · 486 citations
• Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets? · The Journal of Finance · 2011 · 427 citations
• Household Finance · Journal of Economic Literature · 2021 · 356 citations
• Building financial resilience through financial and digital literacy in South Asia and Sub-Saharan Africa · Emerging Markets Review · 2021 · 258 citations
• The Importance of Financial Literacy: Opening a New Field · The Journal of Economic Perspectives · 2023 · 226 citations
• Financial literacy in the digital age—A research agenda · Journal of Consumer Affairs · 2023 · 218 citations
• A review of financial-literacy education programs for children and adolescents · Citizenship Social and Economics Education · 2017 · 195 citations

Most recent work

• Understanding older adults’ vulnerabilities to digital investment fraud: a conceptual model and instrument development · The Journal of Adult Protection · 2026
• Predictors and impacts of financial insecurity among university students: associations with food insecurity, well-being, and academic outcomes in a national cross-sectional survey · Higher Education Research & Development · 2026
• Developing a big data analytical model for measuring financial well-being in an open finance ecosystem · Journal of Economics, Finance and Administrative Science · 2026
• FINANCIAL LITERACY AMONG WOMEN EDUCATORS IN HIGHER EDUCATION: AN EMPIRICAL INVESTIGATION OF KNOWLEDGE, ATTITUDE, AND BEHAVIOUR · The Social Science Review A Multidisciplinary Journal · 2026
• O ENSINO DE EDUCAÇÃO FINANCEIRA E MATEMÁTICA FINANCEIRA NA EDUCAÇÃO BÁSICA: UM ESTUDO SOB A PERSPETIVA DO PROFMAT NO ÂMBITO DO IFPI CAMPUS FLORIANO · REMUNOM · 2026
• Financial Literacy as Household Capability: Its Role in Strengthening Marital Stability in Emerging Indonesian Families · Journal of Mathematics Instruction, Social Research and Opinion · 2026
• What Determines the Demand for Online High-Cost Credit? Evidence from Loan Applications from Digital Credit Intermediaries · Journal of Consumer Policy · 2026
• Contemporary Financial Concepts, Digital Literacy, and Financial Well-Being: A Mixed-Methods Research Paper Based on News-Reflection Analysis and PLS-SEM · International Journal of Science, Strategic Management and Technology · 2026
• Investor Awareness and Behavioural Influences on Saving and Investment Decisions: Evidence from Young Professionals in A Tier-III City · International Journal of Creative and Open Research in Engineering and Management · 2026
• A Study on Financial Literacy and Investment Behavior of Retail Investors · International Journal of Creative and Open Research in Engineering and Management · 2026

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