Savings and financial literacy: a review of selected literature

Abstract

This paper presents a systematic review of the literature on financial literacy and savings. A total of 183 articles published between 2005 and 2019 were analyzed. The review relied on hybrid methods, namely, descriptive, semantic network and narrative analyses. The lexical analysis of the articles’ abstracts identified 11 themes: financial literacy, financial literacy measurement, correlates, savings, savings type, financial education, target group, theories, personal finance, financial preparation and financial inclusion. The findings include avenues for future research.