Financial literacy and self-control for a sustainable future: a cross-sectional study with middle school students on the parallel mediating effects of patience and responsibility

This study explored the psychological mechanisms behind financial literacy in early adolescence, a key period for setting long-term financial goals and advancing the Sustainable Development Goals (SDGs). Focusing on secondary school students in Türkiye, the research examined how responsibility and patience serve as parallel mediators in the relationship between self-control and three aspects of financial literacy: conscious consumption, savings and future planning, and the meaning of money. A cross-sectional survey involving 663 students was conducted, and parallel mediation analyses tested the proposed model. Results showed that self-control significantly predicted conscious consumption, savings, and future planning. The links between self-control and conscious consumption, as well as between self-control and savings and future planning, were concurrently mediated by responsibility and patience. Regarding the meaning of money, self-control had no significant direct effect, but responsibility played a notable mediating role; patience alone did not, although the combined indirect effect of responsibility and patience was still significant, indicating an indirect-only mediation pattern. These findings suggest that financial literacy in early adolescence is best understood as a character-based skill, with self-control operating through virtues such as patience and, especially, responsibility. The results underscore the importance of integrating financial education with character development to promote conscious consumption, savings behaviors, and a reflective understanding of money, ultimately supporting individual financial well-being and broader goals such as poverty reduction, quality education, and responsible consumption.