Financial Literacy and Financial Behavior in Households: An Empirical Literature Synthesis

This study aims to analyze family financial management using an integrative approach that combines financial literacy, financial behavior, and socio-cultural factors. The method employed is a literature review with a systematic approach and triangulation for validating the findings. Literature sources were obtained from various international academic databases and accredited national journals, focusing on research related to family financial management from 2000 to 2024. The results of the study indicate that family financial management is a complex phenomenon influenced by the interaction between financial literacy, financial behavior, psychological factors, and socio-cultural elements. High financial literacy plays an important role, but behavior change supported by psychological factors such as self-control and active planning is key to successful financial management. Additionally, socio-cultural and demographic factors also influence family financial decision-making. The conclusion of this study is that family financial management requires a multidimensional approach, involving literacy, behavior change, and psychological factors. Recommendations include the need for educational programs that focus on actual behavior change, integration of psychological aspects, contextualizing educational materials according to local culture, and emphasizing long-term financial planning with a differentiated approach for various family segments.