Financial Literacy and Household Saving Behavior in Developing Economies

Abstract

Low household saving rates in developing economies are often linked to limited financial literacy. This study examines the relationship between financial literacy and household saving behavior. Using survey data from households and econometric analysis, the findings show that financial literacy positively influences saving decisions and financial planning. The study concludes that improving financial literacy can enhance household financial stability. This research contributes to policy discussions on financial education programs in developing economies.