In today's complex financial environment, financial literacy has become an essential life skill that enables individuals to make informed decisions about saving, investing, borrowing, insurance, and retirement planning. This study explores the role of financial literacy and education as pathways to financial well-being, emphasizing their importance in fostering responsible financial behaviour, reducing vulnerability to risks, and promoting long-term economic stability. Drawing on a comprehensive review of global literature, the paper highlights how financial education enhances knowledge, decision-making, and entrepreneurial creativity, while also identifying persistent gaps such as limited longitudinal evidence, lack of integrated frameworks combining education and experience, and contextual biases toward developed economies. Methodologically, the study employs a descriptive and analytical approach, synthesizing secondary data from peer-reviewed sources to examine the interactive role of financial education and financial experience. Regression analysis conducted on 63 observations reveals weak explanatory power of age, gender, and income in determining financial awareness, underscoring the need for broader variables and improved models. Findings suggest that while financial literacy contributes positively to individual prosperity and economic resilience, current educational initiatives remain insufficient to drive long-term behavioural change. The study concludes that effective financial education strategies must integrate structured learning with practical experience, supported by inclusive policies tailored to diverse socio-economic contexts. Future research should expand empirical validation, incorporate larger samples, and evaluate alternative policy tools to strengthen financial capability and sustainable financial well-being.
Samba Shalini (2026) studied this question.