Digital Financial Literacy and Financial Behavior

Digital finance has made inclusive financial services accessible across time and space, encompassing mobile payments, financing, investment, and information intermediation. It has transcended the limitations of traditional finance, which relied on physical locations, by lowering transaction costs, mitigating information asymmetry, and introducing innovative risk control models. (Huang Y., et al., 2018; Wang X. H., et al., 2020). At the same time, according to relevant research results, residents' financial literacy, especially their digital financial literacy, plays a crucial role in their financial risk prevention capabilities and the security of the country's overall financial consumption environment (Fan C.Y., 2021). Drawing on a comprehensive analysis of how digital financial literacy affects residents' financial behavior, this paper presents its recommendations for enhancing digital financial literacy among residents. There are limitations in current research on how to improve residents’ digital financial literacy. The possible research can be carried out in-depth and practical research on consumer financial attitudes and behavior characteristics in the digital environment, assessment scales of digital financial literacy, and innovation in digital financial education.