Digital financial literacy and retirement planning with mediating effect of saving behaviour

Mansi Yadav, Priyanka Banerji and Anjali Garg

American Journal of Business, 2025, vol. 40, issue 3, 127-143

Abstract: PurposeThe core objective of the present research was to investigate the connection between digital financial literacy (DFL) and retirement planning (RP) and identify the role of saving behaviour (SB) as a mediator. The study explores how salaried individuals' financial knowledge of digital tools, combined with family and social influences, shapes their decision-making and impacts their digital financial well-being.Design/methodology/approachThis study targeted employed individuals with regular salaries, using a quantitative approach to collect primary data via a questionnaire from 399 participants. Analytical methods, including descriptive analysis, parametric tests and reliability assessments, were applied using SPSS and Smart PLS 4.0 to ensure robust research outcomes.FindingsIn terms of digital financial behaviour, there were no discernible differences among employees from various socioeconomic backgrounds. DFL is strongly correlated with saving habits. Furthermore, there is a substantial positive connection between digital financial education and digital financial behaviour, particularly in the context of RP. It’s important to note that SB plays a role in partial mediation between DFL and RP.Originality/valueThis research represents the first attempt to explore the connection between DFL and RP, with SB as an intermediary factor, focusing on individuals who are employed and receive a salary.

Keywords: Digital financial literacy; Saving behaviour; Retirement planning; Smart PLS (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ajbpps:ajb-12-2023-0221

DOI: 10.1108/AJB-12-2023-0221

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