Financial literacy has a significant impact on the financial behavior of consumers, including incurring avoidable credit and checking fees and willingness to take investment risks.
Financial literacy has a significant direct impact on financial behavior, according to the study.
Financial literacy can amplify cognitive biases such as framing effects and loss aversion, potentially impacting the decision-making of consumers.
Financial literacy affects the financial behavior of consumers by enabling them to make more informed and effective financial decisions.
