Sustainable development in developing economies is hindered by financial inequalities and economic instability. Financial literacy is essential for managing resources effectively and fostering economic resilience, yet its impact on sustainable development remains limited without moderating factors like savings and investment habits. This study examines how savings and investment habits moderate the relationship between financial literacy and sustainable development among microfinance customers. Using an explanatory research design and convenience sampling, the study finds that financial literacy significantly enhances sustainable development. Savings and investment habits also positively affect sustainable development and significantly moderate the financial literacy-sustainable development relationship. The study recommends that governments and NGOs implement targeted financial education programs for youth, women, and low-income groups. Financial institutions should integrate sustainability education into customer engagement, while media campaigns should promote financial literacy through accessible platforms to raise awareness of its connection to sustainable living.
Issah Ofori (Sun,) studied this question.
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