Historical overview of personal finance

Jodi Krausman and Chet Bennetts

Chapter 2 in Research Handbook on Personal Finance, 2026, pp 10-30 from Edward Elgar Publishing

Abstract: The last five decades have seen several key developments in personal finance, leading to shifts in consumer behavior, financial services, and regulatory policies. In the 1970s and 1980s, the emergence of consumer debt was welcomed with the widespread adoption of credit cards. The 1990s were full of internet-driven innovations. Following the financial crises of the 2000s, heightened regulatory oversight prioritized transparency and consumer protection. The rise of fintech in the 2010s reshaped financial interactions through mobile platforms and digital payment methods. In comparison, the 2020s have seen a further acceleration of digitalization, sustainable investing initiatives, and cryptocurrency adoption. Looking ahead, technological innovations like artificial intelligence promise ongoing transformation but pose new ethical, regulatory, and cybersecurity challenges, underscoring the importance of adaptive and consumer-focused financial planning practices.

Keywords: Consumerism; Financial innovation; Fintech; Financial literacy; Sustainability; Compensation models (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035323005
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