Digital Financial Literacy and Financial Well-Being Among Private University Lecturers: The Mediating Role of Personal Financial Management Behavior-A Systematic Literature Review

This study examines the relationship between digital financial literacy and financial well-being by emphasizing the mediating role of personal financial management behavior among private university lecturers. Although previous studies have widely investigated financial literacy and financial well-being, limited evidence has systematically explained the behavioral mechanism linking these variables within the context of higher education professionals. The study aims to synthesize existing evidence and develop a comprehensive conceptual understanding of these relationships. A systematic literature review was conducted using a transparent review process involving article identification, screening, eligibility assessment, and final selection from major international databases. From an initial collection of 1,590 publications, 60 eligible studies were included for qualitative synthesis and bibliometric analysis. The findings consistently indicate that digital financial literacy enhances financial well-being both directly and indirectly through personal financial management behavior. Individuals with stronger digital financial literacy demonstrate better budgeting, saving, debt management, investment planning, and financial monitoring, which contribute to greater financial security and long-term well-being. The novelty of this study lies in proposing personal financial management behavior as the central behavioral mechanism connecting digital financial literacy with financial well-being while providing an integrated conceptual framework to support future empirical research involving private university lecturers.