This study conducted meta-analyses of the relationships between financial literacy and both financial behavior and financial well-being. Peer-reviewed articles published on financial literacy in the field of consumer studies were collected by July 29, 2020. Fourteen articles were eligible for the meta-analyses. The results showed positive relationships of financial knowledge with desirable financial behavior and financial well-being. Our comparison of objective and subjective financial knowledge indicated that subjective knowledge had stronger relationships with both financial behavior and financial well-being than objective knowledge. These two types of knowledge also had different paths to financial well-being in that subjective knowledge had both direct and indirect effects on financial well-being through financial behavior, whereas objective knowledge only had an indirect effect. The relationship between financial knowledge and financial behavior appeared stronger in cross-sectional data than in longitudinal data. The implications of these results and possible directions for future consumer science research were discussed.

中文翻译：

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金融素养与金融行为和金融福祉的关系：基于选择性文献综述的元分析

本研究对金融知识与金融行为和金融福祉之间的关系进行了荟萃分析。截至 2020 年 7 月 29 日，收集了在消费者研究领域发表的关于金融知识的同行评审文章。14 篇文章符合荟萃分析的条件。结果表明，金融知识与理想的金融行为和金融福祉之间存在正相关关系。我们对客观和主观财务知识的比较表明，主观知识与财务行为和财务状况的关系比客观知识更强。这两种类型的知识也有不同的财务福祉路径，因为主观知识通过财务行为对财务福祉产生直接和间接影响，而客观知识仅具有间接影响。金融知识与金融行为之间的关系在横截面数据中似乎比在纵向数据中更强。讨论了这些结果的意义和未来消费者科学研究的可能方向。