Evaluating the effect of financial literacy on saving behavior and financial well-being among employees of financial institutions

Bipin Chauhan, Santosh Kumar, Sanny Kumar, Manish Kumar and Vipin Vihari Ram Tripathi

Accounting Research Journal, 2026, vol. 39, issue 2, 283-304

Abstract: PurposeThe purpose of this study is to discover the effect of FL influence on the saving behavior of financial institutions in India. Also to investigate the financial (knowledge, experience and confidence) impact on F_WEB in India.Design/methodology/approachThe research “Evaluating the Effect of Financial Literacy on Saving Behavior and Financial Well-Being among Employees Toward Financial Institution” over a quantitative study. The technique of non-probability convenience sampling is used to discover the growth of employees and employed PLS-SEM analysis.FindingsThe findings reveal that financial experience (F_EXP) significantly influences saving behavior (F_SAB) with a p-value of 0.000, while financial knowledge (F_KNO) also significantly affects saving behavior with a p-value of 0.029. However, financial confidence (F_CON) does not significantly influence saving behavior, with a p-value of 0.435. Regarding financial well-being (F_WEB), financial knowledge (F_KNO) has a significant impact with a p-value of 0.000, and financial experience (F_EXP) also significantly affects financial well-being with a p-value of 0.000. Financial confidence (F_CON) does not significantly influence financial well-being, with a p-value of 0.834.Originality/valueThis study investigates the impact of financial literacy (FL) on savings behaviors and overall F_WEB in a rapidly changing economic climate, involving adults, students and salaried class members across various societal segments.

Keywords: Financial literacy; Financial well-being; Financial knowledge; Financial experience; Saving behavior (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:eme:arjpps:arj-03-2025-0069

DOI: 10.1108/ARJ-03-2025-0069

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