Financial Literacy as a Layered Construct: From Budgeting to Algorithmic Thinking
Sustainable Finance, Springer Nature, ss.27-47, 2026
- Yayın Türü: Kitapta Bölüm / Araştırma Kitabı
- Basım Tarihi: 2026
- Doi Numarası: 10.1007/978-3-032-29188-2_2
- Yayınevi: Springer Nature
- Sayfa Sayıları: ss.27-47
- Anahtar Kelimeler: Artificial intelligence, Behavioral finance, Financial education, Financial literacy, I22, O33, Q56, Sustainable finance
- Ankara Yıldırım Beyazıt Üniversitesi Adresli: Evet
Özet
Over the past three decades, the concept of financial literacy has undergone a significant transformation in academic discourse. Initially framed within the boundaries of basic money management—such as budgeting, saving, and debt repayment—it has gradually expanded into a multidimensional field intersecting with behavioral economics, digital technologies, sustainability, and ethical finance. This chapter aims to provide a conceptual overview of how financial literacy has evolved both semantically and thematically across disciplines. Drawing on major definitions proposed by institutions such as the Organization for Economic Co-operation and Development (OECD), World Bank, and influential scholars, the study maps the shift from narrow cognitive definitions toward broader interpretations that emphasize capability, inclusiveness, and adaptive resilience in a fast-changing financial environment. The chapter discusses how the early 2000s saw a growing interest in measurable financial knowledge and consumer competence, especially in response to global financial crises and pension reforms. By the 2010s, the field had expanded to include behavioral dimensions, recognizing the role of cognitive biases, socio-economic inequality, and financial well-being as essential components of literacy. More recently, emerging topics such as digital finance, algorithmic decision-making, sustainable investing, and Shari’ah-compliant financial education have further diversified the term’s usage and scope. Rather than offering a final or static definition, this chapter traces the evolving semantic landscape of financial literacy. It also reflects on the implications of this conceptual broadening: What do we gain or lose when “financial literacy” is stretched to include everything from crypto awareness to ecological spending habits? How can policymakers, educators, and technologists use the term meaningfully without diluting its operational value? By highlighting key turning points, neglected dimensions, and future challenges, the chapter proposes a renewed understanding of financial literacy that is more responsive to the demands of today’s complex economic systems. The chapter advances an empirically grounded layered construct theory of financial literacy, demonstrating how foundational competencies persist while new digital and sustainability dimensions accumulate around them. In doing so, it aims to contribute a theoretical foundation for both researchers and practitioners seeking to engage with financial literacy in a nuanced and critically informed manner—one that bridges traditional skills with twenty-first-century challenges such as digital inclusion, algorithmic accountability, and sustainable finance.