The nexus of financial socialization, financial literacy, financial capability and financial well-being: women’s perspective with structural equation modeling approach

Saima Aziz, Ikram Ullah Khan (), Abdulrahman Alomair () and Abdulaziz S. Al Naim
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Saima Aziz: Institute of Management Sciences, University of Science and Technology Bannu
Ikram Ullah Khan: Institute of Management Sciences, University of Science and Technology Bannu
Abdulrahman Alomair: Accounting Department, Business School, King Faisal University
Abdulaziz S. Al Naim: Accounting Department, Business School, King Faisal University

Humanities and Social Sciences Communications, 2025, vol. 12, issue 1, 1-11

Abstract: Abstract There is a dearth of studies on local women’s financial well-being in the mainstream financial literature. Therefore, understanding women’s financial socialization and its relationship with their financial well-being is more vital than ever. Women’s financial well-being can foster independence, develop access to basic resources, and help overcome gender inequalities. The current study aims to understand how financial socialization, financial autonomy, and financial capability affect the financial well-being of female employees and determine the mediating impact of financial capability between financial socialization, financial literacy, financial autonomy, and financial well-being of female employees in women’s universities. The study is a prior one that explores individual financial well-being in a unique local context and offers fresh insights for future research and practice in developing economies. Particularly, the study underscores how female financial socialization and financial skills interact to achieve financial well-being in Pakistan. Using convenience sampling, the data were obtained through self-administered questionnaires from 437 respondents, and the PLS-SEM technique was employed to assess the research hypotheses. Our findings validate that financial socialization, autonomy, and capability significantly influence the financial well-being of women employees. This study enriches academic knowledge and contributes to women’s financial well-being by promoting their financial socialization and literacy. The study concludes that enhanced financial capability leads to better financial management, which finally contributes to social and financial stability.

Date: 2025
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DOI: 10.1057/s41599-025-05894-6

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