Navigating the Digital Society: Financial Literacy as a Tool for Empowerment

Ade Maharini Adiandari(1*)

(1) Universitas Ngurah Rai, Bali, Indonesia
(*) Corresponding Author


In an era of an increasingly digitalized society, digital financial literacy has become a necessity to equip individuals with the knowledge and skills necessary to manage personal finances and take advantage of investment opportunities in a complex digital economic environment. This research aims to deepen understanding of financial literacy in a digital society and identify existing challenges and opportunities. This research uses a descriptive qualitative approach with data obtained from various research results and previous studies that are relevant to this research. The results of this research identify challenges, such as lack of motivation and complexity of financial products, as well as challenges measuring literacy levels and inequality of access. To achieve more equitable and sustainable financial literacy, fiscal incentives can also be used to encourage community participation in financial literacy programs. With the joint efforts of government, the financial industry, and society, we can achieve a more financially aware and skilled society in this ever-evolving digital era.


Digital Society, Financial Literacy, Empowerment.

Full Text:





style='color:black;mso-themecolor:text1'>ADDIN Mendeley Bibliography


color:black;mso-themecolor:text1'>Adil, M., Singh, Y., Subhan, M., Saleh Al-Faryan, M. A., & Ansari, M. S. (2023). Do trust in financial institution and financial literacy enhances intention to participate in stock market among Indian investors during COVID-19 pandemic?. Cogent Economics & Finance, 11(1), 2169998.

Aristei, D., & Gallo, M. (2021). Financial knowledge, confidence, and sustainable financial behavior. Sustainability, 13(19), 10926.

Brand, U., Muraca, B., Pineault, É., Sahakian, M., Schaffartzik, A., Novy, A., ... & Görg, C. (2021). From planetary to societal boundaries: an argument for collectively defined self-limitation. Sustainability: science, practice and policy, 17(1), 264-291.

Coy, D., Malekpour, S., Saeri, A. K., & Dargaville, R. (2021). Rethinking community empowerment in the energy transformation: A critical review of the definitions, drivers and outcomes. Energy Research & Social Science, 72, 101871.

Dewi, V. I., Febrian, E., Effendi, N., Anwar, M., & Nidar, S. R. (2020). Financial literacy and its variables: The evidence from Indonesia. Economics & Sociology, 13(3), 133-154.

Folke, C., Polasky, S., Rockström, J., Galaz, V., Westley, F., Lamont, M., ... & Walker, B. H. (2021). Our future in the Anthropocene biosphere. Ambio, 50, 834-869.

García-Esparza, J. A., Altaba Tena, P., & Valentín, A. (2023). An Interdisciplinary Secondary School Didactic Unit based on Local Natural and Cultural Heritage. Heritage & Society, 1-18.

Goyal, K., & Kumar, S. (2021). Financial literacy: A systematic review and bibliometric analysis. International Journal of Consumer Studies, 45(1), 80-105.

Goyal, K., Kumar, S., & Xiao, J. J. (2021). Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda. International Journal of Bank Marketing, 39(7), 1166-1207.

Halvorsen, K., Dihle, A., Hansen, C., Nordhaug, M., Jerpseth, H., Tveiten, S., ... & Knutsen, I. R. (2020). Empowerment in healthcare: A thematic synthesis and critical discussion of concept analyses of empowerment. Patient education and counseling, 103(7), 1263-1271.

Klapper, L., & Lusardi, A. (2020). Financial literacy and financial resilience: Evidence from around the world. Financial Management, 49(3), 589-614.

Li, L. (2020). Education supply chain in the era of Industry 4.0. Systems Research and Behavioral Science, 37(4), 579-592.

Mavlutova, I., Fomins, A., Spilbergs, A., Atstaja, D., & Brizga, J. (2021). Opportunities to increase financial well-being by investing in environmental, social and governance with respect to improving financial literacy under covid-19: The case of Latvia. Sustainability, 14(1), 339.

Momen, M. N. (2019). Myth and Reality of Freedom of Expression on the Internet. International Journal of Public Administration.

Neves, B. B., Sanders, A., & Kokanović, R. (2019). “It's the worst bloody feeling in the world”: Experiences of loneliness and social isolation among older people living in care homes. Journal of aging studies, 49, 74-84.

Sari, I. N., Lestari, L. P., Kusuma, D. W., Mafulah, S., Brata, D. P. N., Iffah, J. D. N., ... & Sulistiana, D. (2022). Metode penelitian kualitatif. Unisma Press.

Surya, B., Syafri, S., Hadijah, H., Baharuddin, B., Fitriyah, A. T., & Sakti, H. H. (2020). Management of slum-based urban farming and economic empowerment of the community of Makassar City, South Sulawesi, Indonesia. Sustainability, 12(18), 7324.

Susanto, H., Fang Yie, L., Mohiddin, F., Rahman Setiawan, A. A., Haghi, P. K., & Setiana, D. (2021). Revealing social media phenomenon in time of COVID-19 pandemic for boosting start-up businesses through digital ecosystem. Applied system innovation, 4(1), 6.

Uddin, N. (2019). Empowerment through participation in local governance: the case of Union Parishad in Bangladesh. Public Administration and Policy, 22(1), 40-54.

Vainauskienė, V., & Vaitkienė, R. (2021). Enablers of patient knowledge empowerment for self-management of chronic disease: an integrative review. International journal of environmental research and public health, 18(5), 2247.

Wang, B., Zheng, P., Yin, Y., Shih, A., & Wang, L. (2022). Toward human-centric smart manufacturing: A human-cyber-physical systems (HCPS) perspective. Journal of Manufacturing Systems, 63, 471-490.

Warmath, D., & Zimmerman, D. (2019). Financial literacy as more than knowledge: The development of a formative scale through the lens of Bloom's domains of knowledge. Journal of Consumer Affairs, 53(4), 1602-1629.

Wong, P. T. (2020). Existential positive psychology and integrative meaning therapy. International Review of Psychiatry, 32(7-8), 565-578.

Zachariadis, M., Hileman, G., & Scott, S. V. (2019). Governance and control in distributed ledgers: Understanding the challenges facing blockchain technology in financial services. Information and Organization, 29(2), 105-117.

Zhang, C., Khan, I., Dagar, V., Saeed, A., & Zafar, M. W. (2022). Environmental impact of information and communication technology: Unveiling the role of education in developing countries. Technological Forecasting and Social Change, 178, 121570.

font-family:"Calibri",sans-serif;mso-fareast-font-family:"Times New Roman";





  • There are currently no refbacks.

Copyright (c) 2023 Ade Maharini Adiandari

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

UIN Sunan Gunung Djati

Kota Bandung, Jawa Barat
Handphone: +6285961137790


Lisensi Creative Commons

Khazanah Sosial  are licensed under Attribution-ShareAlike 4.0 International

Click Her For See Stats