Interplay of Digitalisation, Financial Shock, Knowledge and Inclusion: Proposing a Conceptual Framework of Financial Well-being Based on Information– Motivation–Behavioural Skills Model

Purpose: This study introduces an integrated conceptual framework elucidating the interconnections between excessive use of social networking sites (SNSs), financial shock (FS), and digital financial services usage behaviour (DFSUB) in relation to individual financial well-being (FWB). Furthermore, it examines the roles of financial knowledge (FK) and financial inclusion (FI) as mediating mechanisms within these relationships. Design/methodology: The manuscript employs a scoping review of peer-reviewed literature concerning FWB and its antecedents. It utilises the information–motivation–behavioural skills (IMB) model to organise existing evidence and to develop six propositions that link excessive use of SNSs, FS, DFSUB, FK, FI and FWB. Findings: The proposed framework posits that excessive engagement with SNSs and FS is negatively related to FWB. Conversely, the behaviour associated with the use of digital financial services (DFS) is positively related to FWB. Furthermore, the framework advances the propositions that FK serves as a mediator in the relationship between excessive use of SNSs and FWB, and that FI mediates the relationships between FS, DFSUB and FWB. Practical implications: The conceptual model illustrates that policymakers and practitioners have the capacity to formulate strategies that enhance financial literacy, increase inclusive access to formal financial services and foster the responsible and effective use of DFS. These strategies aim to equip individuals with the necessary skills to navigate the impacts of social media and financial disruptions, ultimately contributing to improved FWB. Originality/value: This study expands the IMB model into the realm of FWB by conceptualising excessive SNSs usage, FS, DFS usage, FK and FI as an integrated framework. It further articulates theoretically grounded propositions that can be empirically tested in future research across diverse populations and contexts.