Article: Financial education is more precious than money - examining the role of financial literacy in enhancing financial wellbeing among Saudi women Journal: International Journal of Business Performance Management (IJBPM) 2024 Vol.25 No.1 pp.1 - 24 Abstract: The study explores the role of financial literacy, financial socialisation, and certain demographic characteristics (such as income, education, father's education and mother's education) in enhancing financial wellbeing through developing/promoting financial self-efficacy and financial coping behaviours, among Saudi women. There is sparse research evidence available in the literature that examines the levels of financial literacy among Saudi women and how it contributes to their financial wellbeing and the related financial behaviours, this paper therefore, provides important evidence to bridge this important research gap. Based on PLS-based path modelling performed over a set of 1,338 responses from Saudi women, we found a significant positive effect of both the antecedents (i.e., financial literacy and the financial socialisation) on financial wellbeing mediated through financial self-efficacy and (financial) coping behaviours. Similarly, demographic characteristics including women respondents' income, education, father's education, and mother's education are partially positively related to financial self-efficacy as well as the financial coping behaviour. However, demographic characteristics were not seen to be significantly related to financial wellbeing. Besides bridging significant research gaps in the literature, this study provides practical implications for Saudi women to enhance their financial wellbeing through enhancing financial literacy and financial socialisation. Inderscience Publishers - linking academia, business and industry through research

Title: Financial education is more precious than money - examining the role of financial literacy in enhancing financial wellbeing among Saudi women

Authors: Yasir Ali Soomro; Murad Ali; Muhammad Zafar Yaqub; Imran Ali; Saeed Badghish

Addresses: Department of Marketing, Faculty of Economics and Administration, King Abdulaziz University, Jeddah, Kingdom of Saudi Arabia ' Department of Leadership and HRM, Newcastle Business School, Northumbria University, City Campus East, NE1-8ST, Newcastle Upon Tyne, UK ' Department of Business Administration, Faculty of Economics and Administration, King Abdulaziz University, Jeddah, Kingdom of Saudi Arabia ' Department of Leadership and HRM, Newcastle Business School, Northumbria University, City Campus East, NE1-8ST, Newcastle Upon Tyne, UK ' Department of Marketing, Faculty of Economics and Administration, King Abdulaziz University, Jeddah, Kingdom of Saudi Arabia

Abstract: The study explores the role of financial literacy, financial socialisation, and certain demographic characteristics (such as income, education, father's education and mother's education) in enhancing financial wellbeing through developing/promoting financial self-efficacy and financial coping behaviours, among Saudi women. There is sparse research evidence available in the literature that examines the levels of financial literacy among Saudi women and how it contributes to their financial wellbeing and the related financial behaviours, this paper therefore, provides important evidence to bridge this important research gap. Based on PLS-based path modelling performed over a set of 1,338 responses from Saudi women, we found a significant positive effect of both the antecedents (i.e., financial literacy and the financial socialisation) on financial wellbeing mediated through financial self-efficacy and (financial) coping behaviours. Similarly, demographic characteristics including women respondents' income, education, father's education, and mother's education are partially positively related to financial self-efficacy as well as the financial coping behaviour. However, demographic characteristics were not seen to be significantly related to financial wellbeing. Besides bridging significant research gaps in the literature, this study provides practical implications for Saudi women to enhance their financial wellbeing through enhancing financial literacy and financial socialisation.

Keywords: financial literacy; financial wellbeing; financial self-efficacy; financial socialisation; financial coping behaviour; Saudi Arabia.

DOI: 10.1504/IJBPM.2024.135155

International Journal of Business Performance Management, 2024 Vol.25 No.1, pp.1 - 24

Received: 23 Sep 2022
Accepted: 04 Oct 2022
Published online: 01 Dec 2023 *

Title: Financial education is more precious than money - examining the role of financial literacy in enhancing financial wellbeing among Saudi women

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