Financial literacy and digital product use for financial inclusion: A GETU model to develop financial literacy

Abstract

The role of financial literacy in the use of digital financial products for financial inclusion is investigated in this study. Due to a lack of financial literacy, a vulnerable population is unable to use digital products for financial inclusion, which is critical for their current financial well-being. Various factors of financial well-being have been discovered, and financial literacy has emerged as a critical component that promotes financial well-being, focusing on diverse aspects of financial well-being such as asset creation and retirement planning. Things have become more complicated as a result of the digital revolution, and digital financial products have become overused. As a result, financial literacy has become a significant policy tool for improving people's financial well-being, especially because it is relatively simple to implement. With the use of secondary data such as journals, articles, and research papers, the current study focuses on the relationship between financial literacy, digital product consumption, and financial inclusion.