Financial self-care – its evolution, concept, social impact and perspectives

Kovács, Zoltán (2026) Financial self-care – its evolution, concept, social impact and perspectives. ECONOMY AND FINANCE: ENGLISH-LANGUAGE EDITION OF GAZDASÁG ÉS PÉNZÜGY, 13 (2). pp. 181-209. ISSN 2415-9379

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Abstract

This research paper focuses on systematizing the theoretical framework of financial self-care, establishing a uniform conceptual definition, and revealing its economic impact and perspectives. A synthesizing method is applied. Rather than a wide range of quotes from professional literature, it is built on a targeted review and integration of the relevant publications by authors who have been decisive on the topic. Starting out from a historical and conceptual line of care and self-care, it strives to derive the concept of financial self-care with particular emphasis on its multi-dimensional and adaptive nature. As a result, a multi-contextual definition is offered which interprets financial literacy, behavioural patterns, competencies of decision making and adaptability in a system. In addition to providing a detailed review of its main components, the study proves that financial autonomy is not simply an individual strategy. It is a concept of systemic significance, since it impacts economic stability, the sustainability of welfare systems and the evolution of social inequalities. Further, it outlines the dual roles played by digitization and fintech innovations which promote access to financial services, provide improved support for decision making and increase financial inclusion. However, they also generate new types of risks, the management of which is key from the aspect of future application. Based on its findings, the study also offers new dimensions of research in terms of education, behavioural intervention, and research on the integrated effect of digital technologies.

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