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INTERNATIONAL JOURNAL OF ADVANCED RESEARCH IN COMMERCE, MANAGEMENT & SOCIAL SCIENCE (IJARCMSS) [ Vol. 9 | No. 3 (II) | July - September, 2026 ]

Clicks, Control and Comfort: A SPAR-4-SLR Approach to Digital Financial Literacy, Self-Regulation and the Financial Well-Being of Digitally Enabled Retail Investors

Anjali S.

This study reviews what research says about digital financial literacy, self-regulation, and the financial well-being of retail investors who invest through apps and online platforms, with a focus on emerging markets and on Kerala. The search was conducted in Scopus, covering all years up to that date, and followed the SPAR-4-SLR protocol (Paul et al., 2021). The search returned 121 records, and 80 articles met the inclusion criteria after screening. The dataset was sorted using the antecedents-decisions-outcomes (ADO) and theory-context-methodology (TCM) frameworks. The studies point to a clear chain. Financial literacy, including the skills needed for digital services, leads to better money habits, and better habits lead people to feel more financially secure. Self-regulation matters as much as knowledge, and self-control also improves well-being on its own. Four gaps stand out. Digital financial literacy is measured in different ways across studies. Propensity to plan is rarely included in these models. Most studies are one-time surveys analysed with SEM. Places like Kerala are barely studied. For practice, this means digital literacy programmes should build habits and supports, such as goal prompts and confidence-building, not just teach facts. This review is among the first to join SPAR-4-SLR with ADO-TCM here.

Anjali, S. (2026). Clicks, Control and Comfort: A SPAR-4-SLR Approach to Digital Financial Literacy, Self-Regulation and the Financial Well-Being of Digitally Enabled Retail Investors. International Journal of Advanced Research in Commerce, Management &Amp; Social Science, 09(03(II)), 47–57. https://doi.org/10.62823/IJARCMSS/9.3(II).9287
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DOI:

Article DOI: 10.62823/IJARCMSS/9.3(II).9287

DOI URL: https://doi.org/10.62823/IJARCMSS/9.3(II).9287

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