International Conference on Economics, Finance & Business, Vienna

FINANCIAL EDUCATION CRITICAL SYSTEMATIZATION OF THE LITERATURE

XOCHIQUETZALLI MENDOZA MOLINA, JUAN ARIOSTO PALACIOS VÁSQUEZ, ANTONIO VALENCIA ÁLVAREZ

Abstract:

The Financial Education (FE), from its origins in the twentieth century to its consolidation in the twenty-first century, can be situated within illustrated stages along a timeline. The premises established by foundational authors are highlighted, while their contributions and limitations are reviewed. The contributions of the pioneers are evaluated, followed by the period characterized by the dissemination of theoretical approaches. A third phase emphasizes the creation of networks committed to the study of substantive inclusion and the development of a theoretical framework. Convergences and divergences among authors are presented. Some identify primarily with investors and businesses, others focus on financing strategies, while additional scholars emphasize access to financial services for vulnerable sectors. The objective was to identify paradigm shifts and the evolution of knowledge generated over nearly half a century during periods of economic crises. The study concludes that Financial Education has been reconfigured, evolving from individualistic techniques and behaviors toward public policies, while recognizing that the design of technological resources alone remains insufficient. It also concludes with the demystification of financial illiteracy as a personal deficiency literat.

Keywords: Irrational Economic Decisions; Social Inclusion; Financial Education; Financial Inclusion; Women’s Financial Empowerment.

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