Balancing Acts

Abstract

Credit, debit, financial literacy, and financial well-being are all examined, along with the complex links between them in this study. The research takes a snapshot of people's financial patterns using a cross-sectional approach and stratified random sampling. Electronic administration of a structured survey instrument guarantees both efficiency and respondent confidentiality. The results suggest complex relationships across variables; for example, credit behaviour is only mildly associated with financial knowledge and well-being. There seems to be a striking connection between debit behaviour and both financial literacy and well-being. The correlation between financial knowledge and prosperity is modest at best. Implications for management include adapting financial offerings to customer preferences and bolstering financial literacy initiatives. This research highlights the social potential of financial literacy programmes that aim to bridge specific knowledge gaps and make communities more financially secure.