An integrated model of financial socialization, technology, and financial capability in predicting financial well-being

Abstract

This study develops and empirically tests an integrated framework that explains how financial socialisation, technological factors, and financial capability jointly shape financial behaviour and in an emerging economy context. Using data from 306 Vietnamese adults, the study applies Partial Least Squares Structural Equation Modelling to assess direct, mediating, and moderating effects. The results show that both family financial socialization and artificial intelligence significantly enhance financial behaviour and financial well-being, with financial behaviour mediating these relationships. Artificial intelligence exerts a stronger influence on financial behaviour than family financial socialisation, while its impact on financial well-being operates primarily through behavioural pathways. Financial literacy and digital trust significantly strengthen the effect of artificial intelligence on financial behaviour, although the moderating effects are relatively modest. Financial well-being is positioned as the ultimate outcome of the model, and the findings confirm that improvements in well-being are largely driven by behavioural adjustments rather than direct technological exposure alone. The study offers theoretical contributions by integrating social, technological, and capability-based elements into a unified financial well-being framework and highlights the conditional roles of digital trust and financial literacy in shaping AI-driven financial behaviour. It also provides practical implications for financial education and responsible digital finance adoption to enhance financial resilience and long-term well-being.