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Research Topics & Ideas: Finance

120+ Finance Research Topic Ideas To Fast-Track Your Project

If you’re just starting out exploring potential research topics for your finance-related dissertation, thesis or research project, you’ve come to the right place. In this post, we’ll help kickstart your research topic ideation process by providing a hearty list of finance-centric research topics and ideas.

PS – This is just the start…

We know it’s exciting to run through a list of research topics, but please keep in mind that this list is just a starting point . To develop a suitable education-related research topic, you’ll need to identify a clear and convincing research gap , and a viable plan of action to fill that gap.

If this sounds foreign to you, check out our free research topic webinar that explores how to find and refine a high-quality research topic, from scratch. Alternatively, if you’d like hands-on help, consider our 1-on-1 coaching service .

Overview: Finance Research Topics

Corporate finance topics
Investment banking topics
Private equity & VC
Asset management
Hedge funds
Financial planning & advisory
Quantitative finance
Treasury management
Financial technology (FinTech)
Commercial banking
International finance

Corporate Finance

These research topic ideas explore a breadth of issues ranging from the examination of capital structure to the exploration of financial strategies in mergers and acquisitions.

Evaluating the impact of capital structure on firm performance across different industries
Assessing the effectiveness of financial management practices in emerging markets
A comparative analysis of the cost of capital and financial structure in multinational corporations across different regulatory environments
Examining how integrating sustainability and CSR initiatives affect a corporation’s financial performance and brand reputation
Analysing how rigorous financial analysis informs strategic decisions and contributes to corporate growth
Examining the relationship between corporate governance structures and financial performance
A comparative analysis of financing strategies among mergers and acquisitions
Evaluating the importance of financial transparency and its impact on investor relations and trust
Investigating the role of financial flexibility in strategic investment decisions during economic downturns
Investigating how different dividend policies affect shareholder value and the firm’s financial performance

Investment Banking

The list below presents a series of research topics exploring the multifaceted dimensions of investment banking, with a particular focus on its evolution following the 2008 financial crisis.

Analysing the evolution and impact of regulatory frameworks in investment banking post-2008 financial crisis
Investigating the challenges and opportunities associated with cross-border M&As facilitated by investment banks.
Evaluating the role of investment banks in facilitating mergers and acquisitions in emerging markets
Analysing the transformation brought about by digital technologies in the delivery of investment banking services and its effects on efficiency and client satisfaction.
Evaluating the role of investment banks in promoting sustainable finance and the integration of Environmental, Social, and Governance (ESG) criteria in investment decisions.
Assessing the impact of technology on the efficiency and effectiveness of investment banking services
Examining the effectiveness of investment banks in pricing and marketing IPOs, and the subsequent performance of these IPOs in the stock market.
A comparative analysis of different risk management strategies employed by investment banks
Examining the relationship between investment banking fees and corporate performance
A comparative analysis of competitive strategies employed by leading investment banks and their impact on market share and profitability

Private Equity & Venture Capital (VC)

These research topic ideas are centred on venture capital and private equity investments, with a focus on their impact on technological startups, emerging technologies, and broader economic ecosystems.

Investigating the determinants of successful venture capital investments in tech startups
Analysing the trends and outcomes of venture capital funding in emerging technologies such as artificial intelligence, blockchain, or clean energy
Assessing the performance and return on investment of different exit strategies employed by venture capital firms
Assessing the impact of private equity investments on the financial performance of SMEs
Analysing the role of venture capital in fostering innovation and entrepreneurship
Evaluating the exit strategies of private equity firms: A comparative analysis
Exploring the ethical considerations in private equity and venture capital financing
Investigating how private equity ownership influences operational efficiency and overall business performance
Evaluating the effectiveness of corporate governance structures in companies backed by private equity investments
Examining how the regulatory environment in different regions affects the operations, investments and performance of private equity and venture capital firms

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Asset Management

This list includes a range of research topic ideas focused on asset management, probing into the effectiveness of various strategies, the integration of technology, and the alignment with ethical principles among other key dimensions.

Analysing the effectiveness of different asset allocation strategies in diverse economic environments
Analysing the methodologies and effectiveness of performance attribution in asset management firms
Assessing the impact of environmental, social, and governance (ESG) criteria on fund performance
Examining the role of robo-advisors in modern asset management
Evaluating how advancements in technology are reshaping portfolio management strategies within asset management firms
Evaluating the performance persistence of mutual funds and hedge funds
Investigating the long-term performance of portfolios managed with ethical or socially responsible investing principles
Investigating the behavioural biases in individual and institutional investment decisions
Examining the asset allocation strategies employed by pension funds and their impact on long-term fund performance
Assessing the operational efficiency of asset management firms and its correlation with fund performance

Hedge Funds

Here we explore research topics related to hedge fund operations and strategies, including their implications on corporate governance, financial market stability, and regulatory compliance among other critical facets.

Assessing the impact of hedge fund activism on corporate governance and financial performance
Analysing the effectiveness and implications of market-neutral strategies employed by hedge funds
Investigating how different fee structures impact the performance and investor attraction to hedge funds
Evaluating the contribution of hedge funds to financial market liquidity and the implications for market stability
Analysing the risk-return profile of hedge fund strategies during financial crises
Evaluating the influence of regulatory changes on hedge fund operations and performance
Examining the level of transparency and disclosure practices in the hedge fund industry and its impact on investor trust and regulatory compliance
Assessing the contribution of hedge funds to systemic risk in financial markets, and the effectiveness of regulatory measures in mitigating such risks
Examining the role of hedge funds in financial market stability
Investigating the determinants of hedge fund success: A comparative analysis

Financial Planning and Advisory

This list explores various research topic ideas related to financial planning, focusing on the effects of financial literacy, the adoption of digital tools, taxation policies, and the role of financial advisors.

Evaluating the impact of financial literacy on individual financial planning effectiveness
Analysing how different taxation policies influence financial planning strategies among individuals and businesses
Evaluating the effectiveness and user adoption of digital tools in modern financial planning practices
Investigating the adequacy of long-term financial planning strategies in ensuring retirement security
Assessing the role of financial education in shaping financial planning behaviour among different demographic groups
Examining the impact of psychological biases on financial planning and decision-making, and strategies to mitigate these biases
Assessing the behavioural factors influencing financial planning decisions
Examining the role of financial advisors in managing retirement savings
A comparative analysis of traditional versus robo-advisory in financial planning
Investigating the ethics of financial advisory practices

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The following list delves into research topics within the insurance sector, touching on the technological transformations, regulatory shifts, and evolving consumer behaviours among other pivotal aspects.

Analysing the impact of technology adoption on insurance pricing and risk management
Analysing the influence of Insurtech innovations on the competitive dynamics and consumer choices in insurance markets
Investigating the factors affecting consumer behaviour in insurance product selection and the role of digital channels in influencing decisions
Assessing the effect of regulatory changes on insurance product offerings
Examining the determinants of insurance penetration in emerging markets
Evaluating the operational efficiency of claims management processes in insurance companies and its impact on customer satisfaction
Examining the evolution and effectiveness of risk assessment models used in insurance underwriting and their impact on pricing and coverage
Evaluating the role of insurance in financial stability and economic development
Investigating the impact of climate change on insurance models and products
Exploring the challenges and opportunities in underwriting cyber insurance in the face of evolving cyber threats and regulations

Quantitative Finance

These topic ideas span the development of asset pricing models, evaluation of machine learning algorithms, and the exploration of ethical implications among other pivotal areas.

Developing and testing new quantitative models for asset pricing
Analysing the effectiveness and limitations of machine learning algorithms in predicting financial market movements
Assessing the effectiveness of various risk management techniques in quantitative finance
Evaluating the advancements in portfolio optimisation techniques and their impact on risk-adjusted returns
Evaluating the impact of high-frequency trading on market efficiency and stability
Investigating the influence of algorithmic trading strategies on market efficiency and liquidity
Examining the risk parity approach in asset allocation and its effectiveness in different market conditions
Examining the application of machine learning and artificial intelligence in quantitative financial analysis
Investigating the ethical implications of quantitative financial innovations
Assessing the profitability and market impact of statistical arbitrage strategies considering different market microstructures

Treasury Management

The following topic ideas explore treasury management, focusing on modernisation through technological advancements, the impact on firm liquidity, and the intertwined relationship with corporate governance among other crucial areas.

Analysing the impact of treasury management practices on firm liquidity and profitability
Analysing the role of automation in enhancing operational efficiency and strategic decision-making in treasury management
Evaluating the effectiveness of various cash management strategies in multinational corporations
Investigating the potential of blockchain technology in streamlining treasury operations and enhancing transparency
Examining the role of treasury management in mitigating financial risks
Evaluating the accuracy and effectiveness of various cash flow forecasting techniques employed in treasury management
Assessing the impact of technological advancements on treasury management operations
Examining the effectiveness of different foreign exchange risk management strategies employed by treasury managers in multinational corporations
Assessing the impact of regulatory compliance requirements on the operational and strategic aspects of treasury management
Investigating the relationship between treasury management and corporate governance

Financial Technology (FinTech)

The following research topic ideas explore the transformative potential of blockchain, the rise of open banking, and the burgeoning landscape of peer-to-peer lending among other focal areas.

Evaluating the impact of blockchain technology on financial services
Investigating the implications of open banking on consumer data privacy and financial services competition
Assessing the role of FinTech in financial inclusion in emerging markets
Analysing the role of peer-to-peer lending platforms in promoting financial inclusion and their impact on traditional banking systems
Examining the cybersecurity challenges faced by FinTech firms and the regulatory measures to ensure data protection and financial stability
Examining the regulatory challenges and opportunities in the FinTech ecosystem
Assessing the impact of artificial intelligence on the delivery of financial services, customer experience, and operational efficiency within FinTech firms
Analysing the adoption and impact of cryptocurrencies on traditional financial systems
Investigating the determinants of success for FinTech startups

Commercial Banking

These topic ideas span commercial banking, encompassing digital transformation, support for small and medium-sized enterprises (SMEs), and the evolving regulatory and competitive landscape among other key themes.

Assessing the impact of digital transformation on commercial banking services and competitiveness
Analysing the impact of digital transformation on customer experience and operational efficiency in commercial banking
Evaluating the role of commercial banks in supporting small and medium-sized enterprises (SMEs)
Investigating the effectiveness of credit risk management practices and their impact on bank profitability and financial stability
Examining the relationship between commercial banking practices and financial stability
Evaluating the implications of open banking frameworks on the competitive landscape and service innovation in commercial banking
Assessing how regulatory changes affect lending practices and risk appetite of commercial banks
Examining how commercial banks are adapting their strategies in response to competition from FinTech firms and changing consumer preferences
Analysing the impact of regulatory compliance on commercial banking operations
Investigating the determinants of customer satisfaction and loyalty in commercial banking

International Finance

The folowing research topic ideas are centred around international finance and global economic dynamics, delving into aspects like exchange rate fluctuations, international financial regulations, and the role of international financial institutions among other pivotal areas.

Analysing the determinants of exchange rate fluctuations and their impact on international trade
Analysing the influence of global trade agreements on international financial flows and foreign direct investments
Evaluating the effectiveness of international portfolio diversification strategies in mitigating risks and enhancing returns
Evaluating the role of international financial institutions in global financial stability
Investigating the role and implications of offshore financial centres on international financial stability and regulatory harmonisation
Examining the impact of global financial crises on emerging market economies
Examining the challenges and regulatory frameworks associated with cross-border banking operations
Assessing the effectiveness of international financial regulations
Investigating the challenges and opportunities of cross-border mergers and acquisitions

Choosing A Research Topic

These finance-related research topic ideas are starting points to guide your thinking. They are intentionally very broad and open-ended. By engaging with the currently literature in your field of interest, you’ll be able to narrow down your focus to a specific research gap .

When choosing a topic , you’ll need to take into account its originality, relevance, feasibility, and the resources you have at your disposal. Make sure to align your interest and expertise in the subject with your university program’s specific requirements. Always consult your academic advisor to ensure that your chosen topic not only meets the academic criteria but also provides a valuable contribution to the field.

If you need a helping hand, feel free to check out our private coaching service here.

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Dollars and sense: The case for teaching personal finance

Americans aren’t good at managing their money — and there are signs that the problem is getting worse.

Already saddled with record levels of student debt, young adults today, for example, are even more unlikely to monitor their credit card debt and bank balances. Some people trick themselves into thinking that store refunds or anything less than $5 amount to free money . And too many people pay for online subscriptions they don’t use.

Thanks to the pioneering work of Stanford economist Annamaria Lusardi , numerous studies show how little people know about money. For two decades, Lusardi has been tracking financial literacy rates using three basic questions that she helped design and are now used as a standard measure around the world.

Her latest analysis of how Americans responded to those three questions in 2021 underscores their lack of financial know-how.

Only 53.1 percent of respondents demonstrated an understanding of how inflation works as prices on everything from cereal and cars were spiking. About two-thirds (69.4 percent) knew how to do a simple interest-rate calculation, but only 41.5 percent understood how, when it comes to investment risks, mutual funds are generally safer investments than a single company’s stock.

In all, just 28.5 percent of survey participants answered all three questions correctly, while the rest either got them wrong, or indicated they didn’t know.

The results are especially troubling as methods of managing money have evolved, says Lusardi, a globally recognized expert on personal finance who joined Stanford in September as a senior fellow at the Stanford Institute for Economic Policy Research (SIEPR) and director of the new Initiative for Financial Decision-Making. Workers now shoulder more of their retirement planning; consumers quickly and easily move money using their mobile phones; and investors make increasingly complex decisions.

“The world is changing really fast and we just expect people to have the skills to make financial decisions that have critical lifelong impacts,” says Lusardi, who is also a professor of finance (by courtesy) at the Graduate School of Business (GSB).

High rates of financial illiteracy are also problematic, she says, given today’s heightened economic uncertainty and growing wealth inequality. Respondents who were young, less educated, female, or not employed scored the lowest. Black Americans and Hispanics were also among the least financially literate.

A global pattern of illiteracy

Financial illiteracy, it turns out, is pervasive around the world, according to a newly published global analysis in the Journal of Financial Literacy and Wellbeing . Whether they are in a Nordic country with strong education systems, like Finland, or in a Latin American country, like Peru, which experienced inflation in 1990 upwards of 10,000 percent, most people don’t understand how money works, says Lusardi. And just like in the United States, the least knowledgeable tend to be women, racial minorities, the least-educated, and the unemployed.

Lusardi’s latest U.S. analysis — co-authored with Jialu Streeter , the executive director and a senior research scholar at SIEPR — is part of a special edition of the journal that includes analyses of 16 countries. Each study in the issue is based on the results of the “Big Three” questions that Lusardi and her longtime collaborator, economist Olivia Mitchell of The Wharton School at the University of Pennsylvania, crafted 20 years ago.

In 2011, Lusardi oversaw and contributed to a similar series of country comparisons — which yielded similar results and appeared in the Journal of Pension Economics & Finance .

“Financial illiteracy has been and continues to be a global phenomenon,” says Lusardi, who is one of the founders and inaugural editors of the Journal of Financial Literacy and Wellbeing , published by Cambridge University Press .

Why the ABCs of money matters

Beyond measuring and analyzing financial literacy rates, Lusardi’s extensive research has found how people who understand basic financial concepts are better at managing money. They save more for retirement, make smarter investment decisions, and manage their debts more effectively. Lusardi’s latest study shows that people who are financially literate are more likely to have money on hand to weather at least the early stages of an economic shock like a pandemic.

Lusardi has also shown that people think they know more about personal finance than they actually do, which she says makes them even more vulnerable to poor decision-making.

Stanford’s commitment to improving financial literacy is a key reason Lusardi says she joined The Farm. In addition to the Initiative for Financial Decision-Making — a collaboration between SIEPR, the GSB, and the Department of Economics in the School of Humanities and Sciences — Lusardi continues to serve as academic director of the Global Financial Literacy Excellence Center , which she founded in 2011. Prior to Stanford, Lusardi was the University Professor of Economics and Accountancy at The George Washington University.

The Big Three as global standard

In Lusardi, Stanford gains a leader in establishing financial literacy as a specialty within the field of economics.

Lusardi’s contributions to the field began in 2004, when The University of Michigan’s closely watched Health and Retirement Study added the so-called Big Three to a module dedicated to financial literacy and retirement planning. Then, in 2009, the financial education arm of the Financial Industry Regulatory Authority, which helps provide oversight of registered securities brokers and brokerage firms, began incorporating the same measures in its triennial survey of roughly 25,000 Americans.

Since then, other organizations, including central banks around the world, have integrated the Big Three into their respective assessments of household finances.

The underlying datasets in these surveys differ, but the results have uniformly shown that most people don’t understand how money, or financial systems broadly, functions, Lusardi says. In the U.S., this remained the case even after the Great Recession of 2008 and 2009 — the most severe economic downturn since the Great Depression — buffeted household finances.

“The continuous surprise is just how low financial literacy is in the United States and around the world,” says Lusardi, whose policy work includes advising the U.S. Treasury, the Organisation for Economic Co-operation and Development, and chairing the Italian Financial Education Committee in charge of designing a national strategy for financial literacy.

Solutions in education

To Lusardi, the answer to financial illiteracy lies in providing people with a basic education on the ABCs of personal finance.

“Developing personal finance skills is as important as learning how to read and write,” says Lusardi, who has been teaching financial literacy to undergraduate and graduate students for more than a decade. In fact, her move to Stanford is rooted in her experience working with SIEPR’s Michael Boskin and John Shoven to organize the first annual Teaching Personal Finance Conference in 2022.

“I’m not talking about expecting people to become Warren Buffet,” she says. “I’m talking about teaching people, especially the young, how to make savvy financial decisions. For first-generation or low-income students, it often means talking about topics they seldom discuss with their parents.”

Even as personal finance education has become somewhat of a cottage industry, results are mixed at best. Instructors, Lusardi says, often lack training and students tend to forget what they learn. In a 2014 journal publication , Lusardi and Mitchell noted that lack of sufficient funding or teacher training in financial education are still an issue; in a follow-up paper published this past fall, however, they said there’s reason for optimism.

More than half of U.S. states, for example, have added personal finance instruction as a high school graduation requirement. Universities, including Stanford, are now offering personal finance courses. Employers, too, are recognizing that financial anxiety hurts employee productivity and are sponsoring personal finance lessons in the workplace.

“Financial literacy education is really accelerating,” Lusardi says. “We’re finally seeing things turn around and, to me, that’s a very positive result.”

This story was updated on Feb. 15, 2024 with the new official name of Stanford's Initiative for Financial Decision-Making.

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Home » Blog » Dissertation » Topics » Finance » Personal Finance » 80 Personal Finance Research Topics

80 Personal Finance Research Topics

FacebookXEmailWhatsAppRedditPinterestLinkedInWelcome to the realm of academic exploration and financial insight! Finding captivating and pertinent topics is the pivotal first step for students embarking on the exhilarating research journey. As you stand at the crossroads of academia and personal finance, unearthing compelling research topics to shape your undergraduate, master’s, or doctoral thesis/dissertation might seem a formidable […]

Welcome to the realm of academic exploration and financial insight! Finding captivating and pertinent topics is the pivotal first step for students embarking on the exhilarating research journey. As you stand at the crossroads of academia and personal finance, unearthing compelling research topics to shape your undergraduate, master’s, or doctoral thesis/dissertation might seem a formidable challenge. Fret not, for this guide is tailored to be your compass in navigating through the labyrinth of possibilities that the world of personal finance offers.

In this blog post, we will explore a treasure trove of potential research topics that pique academic interest and promise to contribute to the ever-evolving landscape of financial wisdom.

A List Of Potential Research Topics In Personal Finance:

A systematic review of behavioural biases in personal investment decision-making.
Behavioural biases and their impact on individual investment decisions.
Impact of Brexit on UK household investment behaviours and attitudes.
Resilience and adaptability in personal financial management after the pandemic.
Examining the evolving landscape of personal finance research post-COVID-19.
Exploring the connection between mental health and financial management.
Health crisis preparedness and its influence on personal financial planning.
Role of fintech innovations in shaping the UK personal finance landscape.
Comparative analysis of active vs. passive investment strategies.
Social and cultural influences on personal financial behaviours.
The role of social media in shaping financial attitudes and behaviours.
Evaluating the impact of financial education programs in schools.
Effects of economic uncertainty on individual saving and spending behaviours.
Financial planning for the gig economy workforce.
Real estate vs. stock market: A comparative study of investment preferences.
Impact of financial stress on relationships and family dynamics.
Behavioural insights into credit card usage and debt accumulation.
Effects of remote work on spending habits and housing preferences.
Literature synthesis on the impact of financial literacy interventions on youth.
Pension reforms and retirement planning strategies in the UK.
The role of financial literacy in retirement planning.
Analysis of factors influencing successful retirement transitions.
Ethical considerations in personal investment and portfolio management.
Cultural perspectives on inheritance and intergenerational wealth transfer.
Impact of celebrity endorsements on personal finance decisions.
Implications of behavioural economics for designing effective savings schemes.
Psychological motivations behind cryptocurrency investment.
Role of social support networks in coping with financial challenges.
The psychology of luxury goods consumption and its financial aftermath.
Behavioural biases in the assessment of insurance needs and coverage.
Investor reactions to financial market bubbles and crashes.
Exploring the role of cultural norms in UK millennials’ financial decision-making.
Gender differences in financial decision-making and their consequences.
Impact of government stimulus programs on household financial decisions.
Reviewing the effectiveness of robo-advisors in long-term investment strategies.
Impact of cognitive ageing on financial decision-making abilities.
Exploring the link between health and long-term financial planning.
Digital payment trends and their implications for personal finance management.
Psychological drivers of charitable giving and philanthropic behaviours.
Navigating cultural norms and financial practices among immigrants.
Investor behaviour during times of geopolitical uncertainty.
Financial implications of the sharing economy and collaborative consumption.
Role of nostalgia in consumer spending and investment choices.
Impact of financial infidelity on relationships and trust.
Evaluating the effectiveness of robo-advisors in ESG investing.
A critical analysis of gender disparities in financial literacy and empowerment.
Analysis of the UK’s response to financial challenges during the pandemic.
Changes in risk perception and investment strategies post COVID-19.
Effects of income inequality on personal financial well-being.
Cross-generational perspectives on retirement and legacy planning.
Neuroscientific insights into impulsive buying behaviour.
Exploring the link between happiness and financial well-being.
Financial challenges and opportunities for single-parent households.
Impact of media portrayal on personal finance perceptions.
The psychology of debt repayment strategies and decision-making.
Financial considerations in blended families and step-parenting.
Risk perception and decision-making in alternative investments.
Exploring the role of cultural background in shaping financial attitudes.
Effects of peer comparison on consumer spending choices.
Analysis of the effectiveness of robo-advisors in investment management.
Behavioural economics perspectives on retirement planning and pension reforms.
Behavioural insights into British consumers’ credit card usage and debt management.
Digitalization of financial services and its influence on consumer behaviour.
Behavioural biases in mortgage decisions and homeownership outcomes.
Financial aspirations and their influence on investment behaviour.
The role of automated savings apps in fostering financial discipline.
Behavioural insights into the use of budgeting and expense tracking tools.
Factors influencing early financial education in children.
Impact of personality traits on investment portfolio diversification.
The psychology of debt aversion and its implications.
Behavioural patterns in retirement withdrawal strategies.
Financial implications of delayed gratification and self-control.
Exploring the link between personal values and financial choices.
Literature review on the psychological factors driving cryptocurrency adoption.
Psychological factors shaping post-pandemic travel and leisure spending.
Sustainability and ethical considerations in UK investment practices.
The impact of student loan debt on young adults’ financial futures.
Investor reactions to corporate social responsibility initiatives.
Evaluating the role of social media influencers in shaping personal finance attitudes.
Factors influencing household budgeting and expenditure patterns.
Implications of the UK housing market dynamics on personal wealth accumulation.
Long-term financial implications of emergency fund utilization during the crisis.
Investor reactions to market volatility and uncertainty during the pandemic.
Navigating the complexities of UK tax regulations in personal financial planning.
Relationship between personality traits and risk tolerance in investment.
Synthesizing research on the implications of income inequality for household finance.
A comprehensive review of strategies for coping with financial stress and anxiety.
Evaluating the effectiveness of online financial education in the new normal.
Investor reactions to the Bank of England’s monetary policy shifts.
Psychological factors affecting impulse buying and their financial implications.

In conclusion, the diverse range of Personal Finance research topics available across various degree levels presents a rich field for in-depth exploration. These topics offer valuable insights into individual financial decision-making and contribute to the broader understanding of economic systems and their impacts. From behavioural aspects to investment strategies and policy implications, students and scholars have a multitude of avenues to delve into, ultimately enhancing our grasp of effective financial management in both personal and societal contexts.

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De Gruyter Handbook of Personal Finance

Edited by: John E. Grable and Swarn Chatterjee
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Please login or register with De Gruyter to order this product.

Language: English
Publisher: De Gruyter
Copyright year: 2022
Audience: Academic researchers, postgraduate students and professionals interested in Personal Finance.
Front matter: 23
Main content: 629
Illustrations: 16
Coloured Illustrations: 24
Keywords: Saving ; Investing ; Asset Management ; Household ; Retirement planning ; Financial protection
Published: March 7, 2022
ISBN: 9783110727692
Published: March 21, 2022
ISBN: 9783110727494
Published: October 24, 2023
ISBN: 9783111356747

Financial planning behaviour: a systematic literature review and new theory development

Original Article
Open access
Published: 03 October 2023

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Kingsley Hung Khai Yeo 1 ,
Weng Marc Lim 1 , 2 , 3 &
Kwang-Jing Yii 1

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Financial resilience is founded on good financial planning behaviour. Contributing to theorisation efforts in this space, this study aims to develop a new theory that explains financial planning behaviour. Following an appraisal of theories, a systematic literature review of financial planning behaviour through the lens of the theory of planned behaviour (TPB) is conducted using the SPAR-4-SLR protocol. Thirty relevant articles indexed in Scopus and Web of Science were identified and retrieved from Google Scholar. The content of these articles was analysed using the antecedents, decisions, and outcomes (ADO) and theories, contexts, and methods (TCM) frameworks to obtain a fundamental grasp of financial planning behaviour. The results provide insights into how the financial planning behaviour of an individual can be understood and shaped by substituting the original components of the TPB with relevant concepts from behavioural finance, and thus, leading to the establishment of the theory of financial planning behaviour, which posits that (a) financial satisfaction (attitude), (b) financial socialisation (subjective norms), and (c) financial literacy, mental accounting, and financial cognition (perceived behavioural controls) directly affect (d) the intention to adopt and indirectly shape, (e) the actual adoption of financial planning behaviour, which could manifest in six forms (i.e. adoption of cash flow, tax, investment, risk, estate, and retirement planning). The study contributes to establishing the theory of financial planning behaviour, which is an original theory that explains how different concepts in behavioural finance could be synthesised to parsimoniously explain financial planning behaviour.

The Influence of Attitude to Money on Individuals’ Financial Well-Being

Financial Socialisation and Personal Financial Management Behaviour of Millennials in India: The Role of Attitude Towards Money and Financial Literacy

Conducting Research in Financial Planning

Avoid common mistakes on your manuscript.

Introduction

Background of financial planning.

Personal financial planning is critical to maintaining a healthy financial status and fulfilling future financial needs (Mahapatra et al. 2019 ). In essence, personal financial planning is a process of managing personal wealth to obtain economic satisfaction (Kapoor et al. 2014 ). This encompasses six areas of financial planning, namely cash flow planning, tax planning, investment planning, risk management, estate planning, and retirement planning (Altfest 2004 ). Ideally, comprehensive financial planning should involve all six areas. However, the specific life stage of an individual, such as retirees, and life realities, such as retrenchment, may dictate the primary focus and/or relevance of these areas. For example, retirees might not be actively engaged in tax planning, and a retrenched worker might not be in a position to engage in investment planning. More importantly, personal financial planning is a profound concept that theoretically reflects and practically safeguards individuals’ financial resilience, and thus, it can be understood from two unique lenses: academic and practice.

From an academic perspective, the field of personal finance is interdisciplinary; it covers a wide range of areas, including economics, family studies, finance, information technology, psychology, and sociology (Schuchartdt et al. 2007 ). Different disciplines have varied theories that play a supporting role in understanding individuals’ financial behaviour and money management (Copur and Gutter 2019 ). However, the theories explaining personal finance are often borrowed rather than created, a situation that is common for emerging interdisciplinary fields (Murray and Evers 1989 ) such as personal finance (Lyons and Neelakantan 2008 ), which encompasses close to 250 publications only in Scopus by the end of 2022. Footnote 1

From a practice standpoint, Palmer et al. ( 2009 ) argued that it is necessary to develop financial planning for each individual that can deal with the uncertainty of the economic environment. Hanna and Lindamood ( 2010 ) echoed that personal financial planning can provide individuals sufficient economic benefits such as increasing wealth, preventing financial loss, and smooth consumption. Footnote 2 However, many individuals lack sufficient financial capability, skills, and knowledge to be able to effectively manage their personal finances (Chen and Volpe 1998 ).

Problems and importance of financial planning

Over time, the society is facing increasing challenges of high living expenses and various financial difficulties given the constant development of complexity in financial matters (Baker et al. 2023 ; Mahapatra et al. 2019 ). Individuals’ ability to manage their personal finances and financial affairs has been gaining attention across the world, wherein being financially healthy gets prioritised by individuals in their lives (e.g. changing investment approach and contributing more to retirement savings to hedge against inflation; Personal Capital 2022 ).

Birari and Patil ( 2014 ) state that individuals should practice and gain basic financial skills to manage their expenditures and acquire well-developed planning to avoid being in financial difficulties. Many factors may lead to irrational financial behaviours from individuals—for example, excess consumption, aggressive trading, lack of savings, and retirement planning. However, one of the major root causes that propels irrational financial behaviour as well as the many financial difficulties that people encounter is inarguably the lack of financial literacy (Organization for Economic Cooperation and Development 2020 ).

According to the Organization for Economic Cooperation and Development ( 2013 ), financial literacy consists of financial knowledge, skill, attitude, awareness, and behaviour to make a rational financial decision and achieve individual financial well-being. In other words, financial literacy is the ability to utilise knowledge and skills to manage financial matters effectively (Pailella, 2016 ; Tavares et al. 2023 ).

Noteworthily, financial behaviour in individuals’ daily lives cannot be separated from financial literacy. Tan et al. ( 2011 ) state that the process of personal financial planning requires individuals to acquire not only cognitive ability but also financial literacy. According to Ali et al. ( 2014 ), financial literacy should be given serious attention from individuals because it is able to affect their welfare. Indeed, financial literacy has been proven to have a positive impact on financial planning. Specifically, individuals who lack financial literacy will often end up in debt (Lusardi and Tufano 2009 ) and will most likely increase their financial burden (Gathergood 2012 ). By having sufficient relevant information, individuals can analyse their financial situation and make decisions wisely.

Gaps and necessity to theorise financial planning behaviour

As mentioned, extant understanding of financial planning is mainly derived from borrowed theories. While this practice remains acceptable, it is important that new theories are developed to enrich understanding of financial planning, particularly from a behavioural perspective, as the issue of good or poor financial planning is dependent on the individual and his or her financial planning behaviour. With the maturity of the literature on financial planning, the time is now opportune to engage in new theory development (Kumar et al. 2022 ).

The need for theory development is further accentuated as there is a notable lack of theory development in explaining financial planning behaviour. Noteworthily, existing frameworks and models remain piecemeal and do not fully cover the whole spectrum of financial planning. After an appraisal of theories related to financial planning (“ Evolution of theories ” Section), the theory of planned behaviour (TPB) has been found to be the most suitable theory on parsimonious grounds (i.e. the capability and capacity of the theory’s core components to act as an organising frame) and its track record of theory spinoffs (e.g. the theory of behavioural control; Lim and Weissmann 2023 ) to explain an individual’s financial planning behaviour. Therefore, an integration of the respective antecedents, decisions, and outcomes (ADO) to form a new, holistic theory is required to document the complexity and the extent of considerations required to explain financial planning behaviour. Such an integration can and will be pursued via a systematic literature review (Lim et al. 2022a , b ).

Goals and contributions of this study

The goal of this study is to establish a formal theory to explain financial planning behaviour. To do so, a systematic literature review is conducted, wherein the SPAR-4-SLR protocol is adopted to guide the review process, whereas the antecedents, decisions, and outcomes (ADO) framework (Paul and Benito 2018 ) and the theories, contexts, and methods (TCM) framework (Paul et al. 2017 ) are adopted and integrated to analyse the findings of the review—a best practice demonstrated and recommended by Lim et al. ( 2021 ). In doing so, this study makes two noteworthy contributions.

From a theoretical perspective, the integrated framework contributes to integrate fragmented knowledge and reduce the production of isolated knowledge on financial planning behaviour. In addition, the framework clarifies the state of existing insights and empowers the discovery of new insights on financial planning behaviour. Certainly, insights gathered from a well-structured framework can provide a better start to add to existing knowledge and increase growth in the field (Kumar et al. 2019 ; Lim et al. 2022a , b ). More importantly, the nomological structure of the framework also enables the study to establish a new theory called the theory of financial planning behaviour , which can act as a multi-dimensional behavioural guideline that involves planning, developing, and assessing the operation of cash flow, tax efficiency, investment planning, risk management, estate planning, and retirement planning within an individual.

From a practical standpoint, the insights from the study are expected to contribute to future financial service professionals gaining advantages in the understanding of financial planning behaviour in catering to the future needs of the public. Additionally, policymakers would benefit from utilising the information to effectively provide financial education programs to enhance individuals’ financial well-being. Further implications for this study focusing on consumers and managers are also discussed towards the end of this study.

Theoretical background

Evolution of theories.

Over the past decades, several theories have been used by researchers on financial planning and the determining factors that influence it. The evolution of theories relating to financial planning is based on the concept of behavioural finance. These theories remain important in financial planning research (Asebedo 2022 ; Overton 2008 ). The most well-known theory related to behavioural finance is the TPB (Ajzen 1991 ). It has been widely used on different research topics to predict and explain individuals’ behaviour or the insufficient control of their behaviour (Ajzen 1985 , 1991 , 2002 ). Noteworthily, the TPB is an extension of the theory of reasoned action, which suggested that human behaviour is determined by the intention to perform a certain behaviour, whereby the intention can be determined by attitudes and subjective norms (Fishbein and Ajzen 1975 ).

In addition, Maslow’s ( 1943 ) hierarchy of needs has been used by Chieffe and Rakes ( 1999 ) to identify and rate the different segments of financial services best suited to each level of income group. The hierarchical approach of this theory provides a framework that explains different financial planning services related to each income group. According to Xiao and Noring ( 1994 ) and Xiao and Anderson ( 1997 ), the notion of Maslow’s hierarchy of needs clearly explains an individual’s financial needs in the form of a hierarchy. The framework of a hierarchical form of financial planning indicates that individuals would only strive for a high level of financial needs after a lower level of financial needs is met. It is recommended for individuals to fulfil their needs step by step to avoid facing financial difficulties.

Another theory that has been applied to financial planning is the life-cycle hypothesis (Modigliani and Brumberg 1954 ), which is an economic theory that explains an individual’s saving and spending behaviour throughout their lifetime. The theory also points out that individuals want to have smooth consumption by saving more if their income increases and borrowing more when their income ceases. Shefrin and Thaler ( 1988 ) state that individuals mentally place their assets into three different accounts, which are current income, current assets, and future income. According to Modigliani and Brumberg ( 1954 ), this theory assumes that individuals will fully utilise their utility for future consumption and aim to accumulate savings and resources for future consumption after retiring. The model explains that individuals’ consumption and saving decisions are formed from a life-cycle perspective. Such individuals will begin with low income when they start working, and their income will slowly increase until it reaches a peak level. Taking a behavioural enrichment (or behaviourally realistic) perspective of the life-cycle theory, Shefrin and Thaler ( 1988 ) state that the behavioural life-cycle hypothesis includes mental accounting, self-control, and framing, which represent three important behavioural features that are usually missing in the economic perspective of the traditional life-cycle theory. The authors mention that individuals use mental accounting to control their propensity to spend on their assets. The willingness to spend is usually related to their current income. According to Warneryd ( 1999 ), individuals usually have a specific method to mentally allocate their expenditures into different accounts. In addition, the marginal propensity to save and consume will be different in each account. According to Shefrin and Thaler ( 1988 ), individuals may face difficulties in controlling their spending, and thus, these individuals may form personal behavioural incentives and constraints. For example, individuals would possess the intention to save and create assets when constraints are available. They also explain that individuals’ preferences are not fixed but vary depending on the constantly changing economic environment and social stimuli (Duesenberry and Turvey 1950 ; Katona 1975 ). Furthermore, the life-cycle theory faces some challenges while explaining individuals’ behaviour, such as assuming that individuals will act rationally, be consistent, and make wise intertemporal choices throughout their lifetime (Deaton 2005 ). The life-cycle theory explains that individuals’ saving decisions are based on their preferences for either present or future consumption. The theory also assumes that individuals determine a desirable age of retirement and level of consumption to fully utilise their utility throughout their lifetime.

Prospect theory is an economic theory that assumes individuals treat losses and gains differently, showing how an individual decides among several choices that involve uncertainties (Kahneman and Tversky 1979 ). This theory explains that their decisions are easily affected by psychological factors and that they are logical decision-makers. However, when individuals decide on whether to purchase or not, they are most likely affected by their cognitive biases. The theory also postulates that making losses will cause a larger emotional impact on individuals rather than a comparable amount of gain. Thus, individuals will prefer choosing the option with perceived gains. For example, individuals would prefer the option of a sure gain instead of a riskier option with a chance of receiving nothing or making a loss. Hence, the theory summarises that individuals are mostly loss averse when they face several choices. Individuals are more sensitive towards losses and would most likely prefer avoiding losses and prefer sure wins. This can be explained by the fact that the emotional impact of losses on an individual is greater than an equivalent gain.

The financial capability model is another prominent theory. Financial capability, which has been gaining prominence across the globe, is defined as the capability and skills of individuals to make rational and effective judgements on managing their financial resources (Noctor et al. 1992 ). Nowadays, individuals have been urged to ensure that they acquire sufficient resources for their retirement and provide a financial safeguard for any sudden occurrence. According to Atkinson et al. ( 2007 ), the financial capability model has been studied and is related to individuals’ financial behaviour, attitude, and knowledge. The researchers identified five different components under the financial capability model: (1) making ends meet (managing personal financial resources, i.e. individuals who have acquired financial knowledge skill sets can finance their resources well and meet financial goals); (2) keeping track (managing money, i.e. planning and recording personal daily expenses to avoid overspending); (3) planning ahead (this helps individuals to be future oriented, i.e. always planning and managing their financial resources to be prepared for any financial uncertainties in the future); (4) choosing products (accumulating resources and managing different assets’ risks, i.e. making a rational decision in choosing financial products and diversifying risks); and (5) staying informed (being updated and studying financial matters in the current market and economy, i.e. individuals have to be eager to keep track on financial matters happening in the market, such as changes in the overnight policy rate (OPR) and stock market movement).

After a review of all the theories (Table 1 ), the TPB has been found to be the most suitable theory to serve as a foundational lens for a review on financial planning behaviour with the aim of establishing a new theory in this field. Unlike the other theories (e.g. Maslow’s hierarchy of needs, life-cycle hypothesis including behavioural life-cycle hypothesis, financial capability model, prospect theory), the TPB is an adaptable yet parsimonious theory that has a track record of spinning off new theories (e.g. the theory of behavioural control; Lim and Weissmann 2023 ). Noteworthily, the TPB can be applied to financial behaviours (Bansal and Taylor 2002 ; East 1993 ; Xiao and Wu 2006 ), wherein the three antecedents of the TPB (attitude, subjective norms, and perceived behavioural control) are found to be associated with intention and contribute to financial behaviour (Shim et al. 2007 ; Xiao et al. 2007 ). Unlike other theories, the mediating effect of financial literacy, which provides an important lens to understand good and poor financial planning, can be applied to the TPB to explain an individual’s intention on financial behaviour. More importantly, it is necessary to understand how the TPB can further explain individuals’ behaviour before examining financial literacy through a behavioural approach. The theory assumes that intention is the best factor to predict an individual’s behaviour, which, in turn, is examined by attitude and social normative perceptions towards an individual’s behaviour (Montano and Kasprzyk 2015 ). Furthermore, individuals’ experiences normally affect their financial decision-making and the way they manage their personal finances. Therefore, financial literacy can be explained as an individual’s confidence and capability to make full use of their financial knowledge (Huston 2010 ) and manage financial matters (Lusardi and Mitchell 2014 ), which they would have perceived control over. In this regard, the theory can be applied to examine how the financial literacy process works on each individual. Moreover, Lusardi and Mitchell ( 2014 ) explain that the favour of financial literacy is more than that of financial capability, where individuals are responsible for their own financial decisions. Hence, financial literacy acknowledges the perceived control of individuals on their financial decisions. That being said, an individual will only show positive financial behaviour when they perceive the value of their behaviour based on their attitude. Therefore, financial behaviour will not be decided based on their financial knowledge but based on their attitude, which is the main component of this theory. In other words, the evaluation of financial knowledge will be better captured through the components of the TPB (e.g. perceived behavioural control), though conceptual contextualisation is necessary to better resonate with the financial planning behaviour of individuals. To aid this task, the next section provides a deeper discussion to understand the fundamental tenets of the TPB.

Theorisation of the theory of planned behaviour

According to Xiao ( 2008 ), the TPB is one of the best and most suitable theories related to financial behaviour that studies and predicts human behaviour. In essence, the TPB is an extension of the theory of reasoned action, which initially posits that attitude and subjective norms shape the intention to perform a behaviour, which, in turn, predicts the actual performance of that behaviour (Ajzen 1991 ). However, behavioural intention does not always translate into behavioural performance (Lim and Weissmann 2023 ), which is the main reason why the TPB was proposed to overcome the limitation of the theory of reasoned action, with the inclusion of perceived behavioural control in the TPB as a mechanism to recognise the volitional control that individuals possess in translating or not translating behavioural intention into behavioural performance (Ajzen 1991 , 2002 ).

Perceived behavioural control can be expressed as follows: Given an individual’s available resources and choices, how easy or hard it is to display a certain behaviour or act in a certain way? In this regard, the performance of an individual’s behaviour depends on his or her ability to act on said behaviour (Ajzen 1991 ). The TPB posits that the perceived control on certain behaviour will be greater when the individual has greater resources (social media, money, time) and choices (Lim and Weissmann 2023 ). Indeed, several researchers have found that perceived behavioural control has a positive relationship with intention and behaviour (Fu et al. 2006 ; Lee-Patridge and Ho 2003 ; Mathieson 1991 ; Shih and Fang 2004 ; Teo and Pok 2003 ).

Subjective norms can also be used to predict individual behavioural intention. As one of the original components of the theory of reasoned action, subjective norms refer to social influence and the social environment affecting an individual’s behavioural intention (Fishbein and Ajzen 1975 ). It is defined as an individual’s perception of the possibility that social agents approve or disapprove a behaviour (Ajzen 1991 ; Fishbein and Ajzen 1975 ). It focuses on everything around individuals, such as social networks, cultural norms, and group beliefs. This is known as a direct determinant of behavioural intention in the theory of reasoned action and the TPB. Through the lens of subjective norms, an individual is said to be willing to perform a certain behaviour even though he or she does not favour performing such behaviour while being under social pressure and social influence (Venkatesh and Davis 2000 ). Kuo and Dai ( 2012 ) state that as subjective norms become more positive, an individual’s behavioural intention to perform or act on a certain behaviour becomes more positive. Several studies have shown a significant relationship between subjective norms and intention (Chan and Lu 2004 ; May 2005 ; Teo and Pok 2003 ; Venkatesh and Davis 2000 ). Sharif and Naghavi’s ( 2020 ) research on family financial socialisation also finds that the behaviour of acquiring relevant norms and information on financial socialisation is associated with subjective norms. The informational subjective norms are known to predict perceived information. Ameliawati and Setiyani ( 2018 ) mention that subjective norms in the TPB represent financial socialisation. Their study describes subjective norms as financial socialisation to research the influence of financial management behaviour. In addition, the research of Jamal et al. ( 2015 ) on the effects of social influence and financial literacy on students’ saving behaviour used the TPB to develop the model. The author uses subjective norms to represent the social pressures influencing students’ intentions to save. It analyses the influences of parents and peers on the impact on the students’ saving behaviour. Hence, subjective norms have a significant effect on the intentions of individuals towards financial planning behaviour.

Attitude has been identified as a construct that guides an individual’s intention, which results in them acting on a particular behaviour. In essence, attitude can be defined as the evaluation of the positive and negative effects on individuals performing an act or behaviour (Fishbein and Ajzen 1975 ), and by extension, reflects the individual’s belief in certain behaviours or acts that contribute positively or negatively to a person’s life (Ajzen and Fishbein 2000 ). There are two components of attitude: the attitude towards a physical object (money, savings, pension) and the attitude towards behaviour or performing a certain act (using savings or money to practice financial planning). Keynes ( 2016 ) and Katona ( 1975 ) state that most individuals possess positive attitudes towards personal saving. Many studies have determined a significant relationship between attitudes and intention (Lu et al. 2003 ; Ramayah et al. 2020 ; Wu and Chen 2005 ). Therefore, attitude can be one of the most important factors to determine and predict human behaviour (Ajzen 1987 ). According to Xiao ( 2008 ), the more favourable the attitude of an individual on performing a behaviour, the easier it is for the individual to perform the behaviour and the stronger the behavioural intention. Further understanding of an individual’s attitude can help to predict their intention and behaviour.

Intention can be defined as an individual’s perception of performing a particular act or behaviour (Fishbein and Ajzen 1975 ). In this regard, intention is said to produce a direct effect on an individual’s behaviour as it signals the willingness of an individual to act (Ajzen 1991 ). The TPB explains that the degree of intentions that are converted into behaviour is determined by the amount of volitional control. Behaviour such as saving money is not considered as full volitional control given the lack of resources and opportunities able to affect the capability to perform the behaviour. While individuals can control their behaviour, their actual behaviour can easily be predicted by their intention accurately, but this does not prove that the measure of correlation is perfect between intention and behaviour (Fishbein and Ajzen 1975 ). Moreover, strong bias always exists in individuals, where they will overestimate the possibility of acting on desired behaviour and underestimate the possibility of acting on undesired behaviour. This can cause inconsistencies between intention and behaviour (performing an actual action) (Ajzen et al. 2004 ). Behaviour and intention will show high correlation whenever the interval time between them is low (Fishbein and Ajzen 1981 ). Yet, intention is known to change over time, and thus, if the interval between intention and behaviour is greater, the possibility of change in intention is higher (Ajzen 1985 ).

Behaviour refers to an observable response to a specific target (Fishbein and Ajzen 1975 ). In essence, the performance of a given behaviour is a direct outcome of the intention to perform that behaviour as well as an indirect result of attitude, subjective norms, and perceived behavioural control (Ajzen 1991 ), as discussed above.

The TPB has been widely used in different fields of research over the past decades: medicine (Hagger and Chatzisarantis 2009 ; McEachan et al. 2011 ), marketing and advertising (King et al. 2008 ; Yaghoubi and Bahmani 2010 ), tourism and hospitality (Han 2015 ; Quintal et al. 2010 ), information science (Lee 2009 ; Shih and Fang 2004 ), and, last but not least, human behaviour (Kobbeltvedt and Wolff 2009 ; Perugini and Bagozzi 2001 ). All the studies listed above have concluded on the positive and significant effect of attitude, subjective norms, and perceived behavioural control on an individual’s intention to act on behaviour. In the financial context, Shih and Fang ( 2004 ) apply the TPB to an individual’s financial decisions regarding internet banking. The study concludes that the TPB can be successfully applied to understand an individual’s intention to use internet banking. Lau et al. ( 2001 ) and Lee ( 2009 ) also apply the TPB to study investors’ intentions on online banking and trading online. To provide a more accurate account for financial planning behaviour, a systematic literature review is conducted and reported in the next sections.

Methodology

Study approach: systematic literature review.

This study conducts a systematic literature review to develop comprehensive insights into financial planning behaviour based on the TPB. As mentioned above, the TPB is the extension of the theory of reasoned action, and it strongly posits that an individual’s behaviour is determined by the three factors (attitude, subjective norms, and perceived behavioural control) and is backed by their behavioural intention (Ajzen 1991 ).

A systematic literature review is known as a ‘research synthesis’, an extensive process of summarising primary research based on an explicit research question, where it attempts to identify, select, synthesise, and assess all the evidence by providing answers to the research question (Donthu et al. 2021 ; Lim et al. 2022a , b ). In this regard, systematic literature reviews not only summarise and synthesise existing knowledge but also facilitate knowledge creation (Kraus et al. 2022 ; Mukherjee et al. 2022 ). Moreover, systematic literature reviews gathered eligible and pertinent evidence based on a preset criterion to answer a specific research question, and thus, a transparent and explicit systematic methodology can be used for systematic literature reviews to analyse and reduce biases (Harris et al. 2014 ; Paul et al. 2021 ).

Systematic literature reviews can be conducted through various methods. Generally, systematic literature reviews can be domain-based, theory-based, and method-based (Palmatier et al. 2017 ; Paul et al. 2021 ). In this study, a theory-based review was used for new theory development. Specifically, the theory-based review is chosen over the other approaches because it serves the purpose of analysing a specific role played by a theory in a given field. One of the examples given by Hassan et al. ( 2015 ) is the role of the TPB in the field of consumer behaviour. In this study, the TPB was applied to financial planning behaviour.

Study procedure: SPAR-4-SLR

Few protocols exist for systematic literature reviews. The most common protocol used by researchers in conducting systematic literature reviews is the preferred reporting items for systematic reviews and meta-analysis (PRISMA) by Moher et al. ( 2009 ). PRISMA is a comprehensive protocol that helps researchers to develop systematic literature reviews. It gathers and reports decisions that researchers have justified from their reviews. However, an uprising protocol was proposed by Paul et al. ( 2021 ) to address the existing limitations of PRISMA, namely the Scientific Procedures and Rationales for Systematic Literature Reviews protocol or the SPAR-4-SLR protocol. As shown in Fig. 1 , the protocol consists of three stages and six sub-stages, followed by sequences.

Assembling This stage constitutes the (1a) identification and (1b) acquisition of literature that is yet to be synthesised.

Arranging This stage entails the (2a) organisation and (2b) purification of literature in the stage of being synthesised.

Assessing This stage reflects the (3a) evaluation and (3b) reporting of literature that has been synthesised.

Review process

Systematic reviews assembling, arranging, and assessing the literature according to the SPAR-4-SLR protocol are expected to: (1) provide significant insights and (2) stimulate nuanced agendas for knowledge advancement in the review domain. Substantially, by providing such significant insights and agendas using the SPAR-4-SLR protocol, (1) the review is comprehensively justified for logical and pragmatic reasons, and (2) each stage and sub-stage is reported with full transparency.

The researchers begin with assembling in the (1a) identification stage, identifying the research domain and research question. The research domain of this study is behavioural finance with a specific focus on financial planning. The research question of this study is ‘How can the TPB be contextualised to develop a theory of financial planning behaviour?’ Thus, academic articles selected should focus on financial planning (i.e. the focus of this review) and the TPB (i.e. the theory contextualised for this review). The source quality was established based on Scopus or Web of Science indexing in line with Paul et al. ( 2021 ). Moving on to the (1b) acquisition stage, the search mechanism will rely on Google Scholar, which is free and can be easily accessed for article search. Footnote 3 The search period will begin from 2000 to 2020 (20 years) as most articles on the TPB and financial planning behaviour started to appear in the early 2000s. Related articles searched between these years are included in this study. The search was conducted multiple times with different keywords based on American and British spelling as well as different combinations: (1) ‘financial planning’ + ‘theory of planned behavior’, (2) ‘financial planning’ + ‘theory of planned behaviour’, (3) ‘personal financial planning’ + ‘theory of planned behavior’, and (4) ‘personal financial planning’ + ‘theory of planned behaviour’. Footnote 4

Next, the researchers move onto arranging in the (2a) organisation stage, wherein the organising code for this study is ADO and TCM, which rely on the suggested frameworks used, the ADO framework (Paul and Benito 2018 ; Pansari and Kumar 2017 ) and the TCM framework (Paul et al. 2017 ). Refer to Fig. 2 for the overview of ADO on the insights of the TPB on financial planning behaviour and its supporting TCM. In the (2b) purification stage, the articles gathered are filtered in this process. The researchers decided which articles to include and exclude from the study. The criteria to exclude articles in this stage include duplicate articles, irrelevant articles, inaccessible articles, and lastly, non-journal-title articles; 41 articles were excluded based on the criteria, and 30 articles proceeded to the next stage.

The state of the art of the antecedents, decisions, and outcomes of financial planning behaviour and its supporting theories, contexts, and methods

Finally, the researchers move into assessing in the (3a) evaluation stage, which involves the analysis and the agenda proposal. The study utilised content analysis, a methodical approach for coding and interpreting textual data from the selected articles to draw meaningful conclusions (Kraus et al. 2022 ). This systematic technique, which was executed by one author (a doctoral scholar) and cross-validated by another author (a senior academic) with an intercoder reliability of ± 95% and differences clarified and resolved, enabled the researchers to identify, categorise, and analyse patterns within the text, contributing to a comprehensive understanding of the subject matter (Patil et al. 2022 ). The theory development and future research agenda were formulated through conceptual extrapolation and sensemaking (i.e. scanning, sensing, and substantiating) (Lim and Kumar 2023 ). This process entailed critically examining the existing theories, extracting key concepts, and extrapolating these to propose new research directions. Thus, this study provided a roadmap for future studies, fostering further evolution in the field of financial planning behaviour. In the (3b) reporting stage, the reporting conventions used include figures, tables, and words. No ethical approval is required since the review is based on accessible secondary data (journal articles), which can be accessed by anyone with subscription (Lim et al. 2022a , b ).

Profile of TPB and financial planning behaviour research

The systematic review of 30 articles covered different insights into the existing research of the TPB and financial planning behaviour, covering the six components of financial planning (i.e. cash flow planning, tax planning, risk management, investment planning, estate planning, and retirement planning) (Fig. 2 ). Appendix 1 summarises the articles in Appendix 2 based on the approaches of Paul and Mas ( 2019 ) and Harmeling et al. ( 2016 ). The articles are classified based on author citations, years, number of citations, methods, sample, related financial planning components and variables, and lastly findings. The findings of each article briefly explained how the construct of the TPB is a predictor or shows a significant effect on financial planning behaviour.

Based on this review, which begins from 2000 to 2020, the past two decades of research in the field of behavioural economics (later known as behavioural finance) have been on continuously identifying and explaining an individual's finances from an extended social science perspective, which includes psychology and sociology. Behavioural finance can be defined as the field of study where psychological factors affect an individual's financial behaviour (Shiller 2003 ). The combination of the TPB and financial planning has proven to be impactful with over 3000 citations among the 30 articles. The articles utilised four different methods: the quantitative approach ( n = 24), the qualitative approach ( n = 3), the mixed method approach ( n = 1), and the conceptual approach ( n = 2).

Lastly, the TPB (i.e. attitude, subjective norms, perceived behavioural control, and behavioural intention) has been found to be a good predictor of financial planning behaviour (i.e. cash flow planning, tax planning, risk management, investment planning, estate planning, and retirement planning) and possesses positive relationships with each component of financial planning. For example, the TPB was found to be positively related to the intention to invest, mental budgeting behavioural intention, influencing savings and investment, and the intention to prevent risky credit behaviour, among others.

Contextualising the TPB for financial planning behaviour

Table 2 and Fig. 3 show the contextualisation of the TPB for financial planning behaviour, leading to the establishment of the theory of financial planning behaviour. Pansari and Kumar ( 2017 ) suggest the use of such a table to compare and explain each construct of the framework. The table, which leverages the findings from the review depicted in Fig. 2 , clearly illustrates how the TPB can be contextualised to explain financial planning behaviour. Attitude can manifest as financial satisfaction, wherein individuals who are dissatisfied, not fully satisfied, or wish to be more satisfied with their financial state will develop a positive disposition towards financial planning. Subjective norms can manifest as financial socialisation, wherein individuals learn about societal expectations of financial planning when they socialise with others (e.g. family, friends, work colleagues). Perceived behavioural control can manifest as financial literacy, mental accounting, and financial cognition, wherein the effect of financial satisfaction and financial socialisation is mediated through financial literacy, which may be shaped by the capability to perform mental accounting and the capacity for financial cognition. These factors can collectively shape the individual's intention to engage in financial planning, which, in turn, motivates the actual behaviour of engaging in financial planning, which can take six forms, namely cash flow planning, tax planning, investment planning, risk management, estate planning, and retirement planning.

Visual representation of contextualising the TPB into the theory of financial planning behaviour

Reflections and ways forward

Behavioural decision-making has been one of the most significant research interests for economists over the past decades. Past researchers (Xiao and Wu 2006 ; East 1993 ; Bansal and Taylor 2002 ) have applied the TPB to financial behaviour. The three antecedents of the TPB (attitude, subjective norms, and perceived behavioural control) were found to be associated with the intention of an individual and contribute to financial behaviour (Shim et al. 2007 ; Xiao et al. 2007 ). Unlike other theories, the mediating effect of financial literacy can be applied to the TPB to explain financial behaviour intentions. The variables of mental accounting and financial cognition were not frequently used by the researchers in the study of financial planning, while in this study, both variables are positioned as relevant components of perceived behavioural control in the TPB.

The concept of mental accounting has been extensively studied in the research area of psychology on financial decisions (Mahapatra and Mishra 2020 ). However, past studies on mental accounting in financial planning are insufficient. The formation and influences of mental accounting as a cognitive process—which consists of the concepts of current income, current assets, and future income as well as mental budgeting—play an important role in the personal financial planning process to each individual. It serves as a guideline in the process of financial planning and provides useful insights. Budgeting plays a key role in managing the financial life of an individual in terms of short-term (e.g. prioritising spending in different categories) and long-term (e.g. setting aside money for investment and future use) financial planning.

Previous research has applied mental accounting with the theory of the behavioural life-cycle model. Shefrin and Thaler ( 1988 ) mentioned that people mentally divide their incomes into current income, current assets, and future income, where the marginal propensity to consume (MPC) for each account is relatively different. Mental accounting is helpful and crucial for individuals to plan for their future financial needs so that they can deal with any unexpected financial difficulties in the future. However, there are still gaps to fill to come out with optimal financial decisions. Therefore, given the need of individuals for personal financial planning, it is necessary to apply mental accounting to each individual by determining their spending and saving tendencies.

Moreover, the 2008 global financial crisis and the COVID-19 pandemic have also taught the world painful lessons; the need for financial literacy and cash flow control has been highlighted and considered by the public. A study conducted by Shahrabani ( 2012 ) on the effect of financial literacy and intention to control personal budget concludes that individuals with high levels of financial knowledge and literacy can influence the intention to have budgetary control. The study shows a positive relationship between the intention to budget and financial knowledge. Selvadurai and Siraj ( 2018 ) study financial literacy education and retirement planning in Malaysia. The authors mention that mental accounting is closely related to financial literacy education. Financial literacy can enhance mental accounting as it affects the behaviour of an individual in planning their savings and expenditure. In particular, individuals who acquire financial literacy education are most likely able to control their expenditure by not spending more than their income, which results in having sufficient savings in the long run. The relationship between mental accounting and financial literacy has been proven to be indispensable.

Cognitive ability also plays an important role in financial literacy as it entails understanding financial knowledge and the ability to perform with available resources. While the relationship between financial cognition and financial literacy is strong, individuals can use their cognitive abilities to solve financial problems. Yet, the cognitive biases exist and influence financial decision-making. Agarwal and Muzumder ( 2013 ) state that individuals with no cognitive ability are most likely to face difficulties while making financial decisions. Also, individuals must at least acquire good memory skills, conceptual ability, and financial sophistication to be involved in financial activities. According to Fu et al. ( 2010 ), understanding the attitude of an individual enables one to predict their intentions and behaviour. This could also influence the formation of their attitude. Lusardi and Mitchell ( 2014 ) mention that cognitive abilities are a significant component of financial literacy to determine desirable financial decision-making. In the case of financial literacy, a link between cognitive abilities and the adaptability of financial decision-making has been studied extensively in the field of personal finance. An individual must acquire cognitive skills to make a sound financial decision in an effortless way, which consists of the ability to recall and utilise financial knowledge (memory) and to implement various numerical operations (numeracy) (Chirstelis et al. 2010 ; McArdle et al. 2009 ). Three variables were discussed under the model of financial cognition: financial attitude, risk attitude, and financial knowledge.

Based on the information mentioned above, the mediating effect of financial literacy on mental accounting and financial cognition is indispensable. Policymakers and researchers should work on improving financial literacy and forming positive financial behaviours. Several studies have proven that financial literacy has slowly become a significant component of rational financial decision-making and that it also provides implications for financial behaviour. Individuals or families with higher levels of financial literacy will have an advantage compared to others and higher wealth accumulation as they have the knowledge and skills to participate in financial activities (Schmeiser and Seligman 2013 ). Past studies have proven that financial literacy plays a remarkable role in determining financial outcomes in terms of the components of financial planning (Hilgert et al. 2003 ). Hence, the need for financial literacy in financial planning is indispensable, and it should be considered by individuals as it affects their welfare.

However, no one has attempted to contextualise the TPB and financial planning with the variable of mental accounting and financial cognition with the mediating effect of financial literacy to understand and determine financial behaviour. Thus, this new theory clarifies the conceptualisation and operationalisation of the theory of financial planning behaviour between the variables of mental accounting and financial cognition, and, most importantly, the mediating effect of financial literacy. However, the new theory, in its present and encompassing form, has yet to be tested empirically, and therefore, this warrants future research across different financial products across countries and populations to establish its generalisability.

Discussion and conclusion

This study developed a new theory called the theory of financial planning behaviour using the TPB of Ajzen to understand the financial behaviour of individuals in managing their personal finances. This study examines how the TPB can be contextualised into a theory that more relevantly explains financial planning behaviour. The theoretical background section of this study presents a comprehensive review of the evolution of theories as well as theorisation for the TPB. With a systematic review of the literature, it can be concluded that the constructs of the TPB can be contextualised to better explain financial planning behaviour—that is, the review results showed how different concepts and factors affect the financial planning of an individual by substituting the original components of the TPB with financial variables. Moving on, this study concludes with an articulation of its implications for academics, consumers, and managers.

Implications for academics

The main theoretical contribution of this study is the establishment of the theory of financial planning behaviour. Noteworthily, this new theory represents a noteworthy attempt to demonstrate how a grand theory such as the TPB can be contextualised and thus transformed into a new theory that resonates with realities in the field, in this case, financial planning. The systematic literature review methodology has also proven itself as a useful approach to source for scholarly evidence to offer preliminary support for the new theory.

Another noteworthy contribution is the extrapolation of perceived behavioural control, which answers the call by Lim and Weissmann ( 2023 ) to identify or source for new forms of behavioural control, going beyond the traditional psychological conceptualisation of self-efficacy. Through this study, three types of perceived behavioural control were revealed: financial literacy, mental accounting, and financial cognition. Moreover, the interdependent relationships between these three forms of perceived behavioural control were also identified and theorised, wherein the capability of mental accounting and the capacity for financial cognition shape the financial literacy of the individual, which, in turn, mediates the effects of financial satisfaction (attitude) and financial socialisation (subjective norms) on that individual’s intention and actual behaviour to engage in financial planning.

For researchers seeking to apply the theory of financial planning behaviour in a study, they might operationalise the variables in the following way. Financial satisfaction, financial socialisation, and financial literacy could be assessed using the scales validated by Madinga et al. ( 2022 ). Financial cognition and mental accounting, being somewhat newer constructs in the literature, might require the development of new scales, which could be validated through exploratory and confirmatory factor analysis. For data analysis, researchers might employ a structural equation modelling (SEM) approach to test the relationships between these constructs, as SEM allows for the simultaneous examination of multiple relationships among observed and latent variables. This technique also enables researchers to test the mediating role of financial literacy in the relationship between financial satisfaction, financial socialisation, and financial planning behaviour, thereby assessing the robustness of the proposed theory. If researchers are interested in examining the moderating effects of certain variables (e.g. age, education, or household income), they could use moderation analysis to determine whether the strength or direction of these relationships varies under different conditions.

To this end, the theory of financial planning behaviour should serve as a useful foundational theory to understand a myriad of individual financial planning behaviour such as cash flow planning, tax planning, investment planning, risk management, estate planning, and retirement planning. In this regard, future research is encouraged to explore for new mechanisms that can positively influence or strengthen the variables espoused by the new theory, such as financial satisfaction (e.g. mechanisms that can prompt individuals to evaluate their financial satisfaction—e.g. advertising), financial socialisation (e.g. platforms to encourage individuals to socialise within a financial setting—e.g. metaverse and social media groups), and financial literacy (e.g. ways to enhance mental accounting capability and financial cognition capacity). Nonetheless, this study does not discount the possibility of discovering additional attitudinal, normative, and control variables, which could lead to possible extensions to the theory of financial planning behaviour, as in the case witnessed by TPB. Thus, the new theory herein is intended to inspire new ideas, not to limit them.

Implications for consumers

This study reaffirms the importance of financial planning to safeguard financial resilience in individuals' daily lives. Adopting financial planning entails endless benefits for consumers who do so. Noteworthily, it is important to determine short-term and long-term financial goals and to achieve them via financial planning. Having these goals in mind can provide a sense of direction and purpose in life.

This study is important for all consumers who wish to make ideal financial decisions. Consumers may adopt better cash flow management by implementing financial planning to have a stable financial flow. A cash flow plan can provide an estimation of future income and expenses to achieve financial efficiency and create an emergency fund. Hence, implementing financial planning may help to relieve financial stress and plan for future needs.

Also, consumers can not only gain monetary benefits but also improve their financial literacy. The world has slowly become more financialised, where financial products have developed rapidly and become more complex (Kumar et al. 2023 ; Goodell et al. 2021 ), which requires consumers to be financially literate before making ideal financial decisions (She et al. 2023 ; Bannier and Schwarz 2018 ). Thus, financial institution managers and policymakers are working on improving the financial literacy of consumers and forming positive financial behaviour.

Indeed, financial literacy is a significant component of rational financial decision-making, and it also provides implications towards financial behaviour. Individuals or families with higher levels of financial literacy will have an advantage compared to others as well as higher wealth accumulation as they have the knowledge and skills to participate in financial activities.

Crucial to developing financial literacy is the capability to do mental accounting and the capacity for financial cognition. That is to say, consumers must seek financial education, be it formally or informally, so that they are able to identify and evaluate the different options for financial planning. Similarly, consumers should allocate adequate resources (effort, time) to think about financial planning, which is not a low but rather high involvement process.

Implications for managers

Promoting financial planning has always been a major challenge for financial managers. The newly established theory of financial planning behaviour emerging from the grand TPB can be put into practice by authorities. The findings of this study can be used by financial managers to understand the financial planning behaviour of consumers.

Based on the results and implications of past studies, introducing financial planning behaviour can benefit banks as well as investment and insurance companies that aim to promote consumer financial well-being. It can provide insights into how different factors affect the intention and adoption of financial planning.

Financial literacy needs to be considered as it is an important mediating factor that influences the intentions and behaviour of consumers. For example, whenever a bank introduces financial products to a prospect, that bank must ensure that the prospect is financially literate or else provide sufficient financial knowledge before the prospect develop a financial plan or purchase any financial product from that bank. This is to ensure that their customers possess knowledge of and clarity on the program or product.

In addition, financial institution managers are encouraged to focus on factors (i.e. mental accounting, financial cognition, financial socialisation, financial satisfaction, and financial literacy) that influence customer behaviour towards financial planning before implementing financial programs. For example, understanding the budgeting styles and minimum level of financial satisfaction of customers may help to develop relevant and applicable financial plans for them. Consider a middle-aged client, John, who has recently experienced a job loss. John is feeling uncertain about his financial future and seeks advice from a financial advisor. The financial advisor, following the theory of financial planning behaviour, would first evaluate John's financial literacy level to assess his understanding of financial products and concepts. Then, the advisor would use the theory's constructs such as mental accounting (how John organises his finances and prioritises spending), financial cognition (how John understands his financial situation), and financial satisfaction (how content John is with his current financial state) to develop a comprehensive financial plan. For instance, the financial advisor may realise that John's financial cognition is low, indicating a lack of understanding of the severity of his financial situation. Therefore, to improve his financial cognition, the advisor would emphasise financial education and assist John in developing better mental accounting habits, such as setting up separate 'pots' for his savings, expenses, and investments. This approach is aligned with promoting financial literacy and ensuring the client's knowledge and clarity on his financial plan, which are aspects underscored in our theory.

Implications for policymakers

The findings of this study serve to inform and guide policymaking in significant ways. Policymakers play a crucial role in shaping the financial landscape that influences financial planning behaviour. A key aspect is the importance of financial literacy, which suggests that national education policies should incorporate financial education from early learning stages. Special focus should be given to underprivileged and marginalised communities, who may lack access to financial literacy resources. This might involve legislation mandating financial institutions to fund these education programs as a part of their corporate social responsibility.

This study also illuminates the role of mental accounting and financial cognition in financial planning behaviour. This could inspire policymakers to collaborate with technology developers to create user-friendly digital tools and applications that promote mental accounting practices. Such initiatives should be supported by national policies encouraging technological innovation in the financial sector.

Furthermore, the impact of financial satisfaction on financial planning behaviour underscores the need for regulation in financial advertising. Policymakers should ensure that financial advertising does not create unrealistic expectations that lead to dissatisfaction, and transparency should be mandated, with severe penalties for institutions found to be misleading consumers.

Moreover, the study's findings encourage the creation of financial socialisation platforms. Policies should support the development of both online and offline platforms for learning, sharing, and discussing financial planning strategies and experiences. Policymakers should work with technology companies, local communities, and financial institutions to ensure these platforms are safe, accessible, and inclusive.

Lastly, the responsibility of policymakers extends to the protection of citizens from unfair financial practices. Legislation should ensure transparency in financial markets, particularly regarding fees, interest rates, and risks associated with financial products. Policymakers may also consider mandating financial counselling for complex financial decisions, such as mortgages or large investments, to increase financial satisfaction.

Limitations and future research directions

Notwithstanding the contributions of this study, several limitations exist that may pave the way for future research.

First, financial planning behaviour remains in the infant stage and thus the newly established theory was limited to available evidence. In this regard, this study does not discount the possibility of extending the theory of financial planning behaviour in enriching ways, such as by adding new dimensions of the original TPB components (e.g. additional forms of perceived behavioural control).

Second, the theory of financial planning behaviour has not been empirically examined in its entirety. Thus, future research is encouraged to adopt or adapt this newly established theory in empirical investigations to ascertain its reliability, validity, and generalisability.

Third, the systematic literature review herein was limited to a single theoretical lens (TPB). As indicated through the theoretical foundation discussion, multiple theories exist to explain financial planning behaviour. In this regard, it is important to acknowledge that the development of theories in this area is continuously evolving. As other theories mature, it would be beneficial for future research to consider conducting similar reviews using those theories, to provide a more comprehensive understanding of financial planning behaviour. This could potentially uncover novel insights and lead to the development of new frameworks that could more holistically explain individuals' financial behaviours.

Fourth, the outcomes of financial planning have not been theorised. While the assumption is that good financial planning results in financial resilience, further investigation is needed to empirically verify this assumption. Further exploration of other possible outcomes is also encouraged, both at the micro-level (e.g. life satisfaction, quality of life) and at the macro-level (e.g. country happiness and financial strength).

Fifth, the relationships in the theory of financial planning behaviour are inherently linear. Nonetheless, as experience in financial planning accumulates over time, this study does not discount the possibility of a cyclical loop that reinforces the said relationships. In this regard, future research that extrapolates the theory through a longitudinal perspective is also encouraged.

Sixth, the research landscape of financial behaviour is broad and includes other aspects such as financial counselling and financial therapy. Although these areas were not covered in this study, they may be relevant in the context of the TPB and could contribute to a more comprehensive understanding of financial behaviours. Thus, future research could consider investigating these areas using the TPB, which could also include other related theories, as a guiding theoretical framework. The expansion of search terms in subsequent studies would allow for a more diverse exploration of financial behaviours, potentially enhancing the generalisability and applicability of the findings. Furthermore, it may also reveal a broader range of factors influencing financial planning behaviour and related areas. Hence, researchers are encouraged to extend the current study by exploring the use of TPB alongside related theories in different areas of financial behaviour.

In closing, while this study viewed financial planning within the context of behavioural finance, it is crucial to underscore the fact that financial planning is a distinct profession with its own body of literature. Financial planning transcends the boundary of understanding and predicting individual financial behaviours. It encompasses a broad spectrum of activities, from cash flow management to estate planning, which are geared towards enhancing an individual's economic satisfaction. Each of these areas possesses a unique set of complexities and necessitates a specialised set of knowledge and skills. The profession of financial planning is dedicated to addressing these complexities and enhancing individuals' financial well-being. Our exploration of financial planning behaviour through behavioural finance should be seen as a facet of the broader, multi-dimensional discipline of financial planning. Future research should therefore endeavour to add to the rich and varied literature of financial planning to offer a more holistic and nuanced understanding of financial behaviour.

Based on a search for “personal finance” in the “title, abstract and keywords” and the subject area of “business, management and accounting” in Scopus on 25 December 2022.

Smooth consumption refers to consumption that balances or optimises spending and saving during different life phases to achieve the greatest overall standard of living (Morduch 1995 ).

Instead of Scopus or Web of Science, which are subscription-based, Google Scholar was used as the search mechanism because it is free to use and thus more accessible. Source quality can still be maintained by referring to Scimago Journal Ranks, which relies on Scopus, and Web of Science Master Journal List, albeit manually. With the journal lists acting as a cross-check mechanism and without the need for bibliometric data, Google Scholar is deemed to be adequate for the search and review. This practice is similar to that of existing reviews (e.g. Lim and Weissmann 2023 ; Lim et al. 2021 ).

Unlike Scopus or Web of Science, which use search string, Google Scholar use search keywords.

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Kingsley Hung Khai Yeo, Weng Marc Lim & Kwang-Jing Yii

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KHKY did conceptualisation, investigation, methodology, data curation, formal analysis, visualisation, writing—original draft; WML done conceptualisation, investigation, methodology, supervision, writing—review and editing; K-JY was involved in conceptualisation, investigation, methodology, supervision, writing—review and editing.

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Appendix 1: Articles on financial planning behaviour and TPB

NA not available, TPB theory of planned behaviour.

Appendix 2: List of articles reviewed

Akhtar, F. and Das, N. (2019). Predictors of investment intention in Indian stock markets. International Journal of Bank Marketing 37(1): 97–119.

Ali, S., Zani, R. M., and Kasim, K. (2015). Factors influencing investors' behavior in Islamic unit trust: An application of theory of planned behavior. Journal of Islamic Economics Banking and Finance 10(2): 183–201.

Aziz, S., Md Husin, M. and Hussin, N. (2017). Conceptual framework of factors determining intentions towards the adoption of family takaful- An extension of decomposed theory of planned behaviour. International Journal of Organizational Leadership 6(3): 385–399.

Balushi, Y. A., Locke, S. and Boulanouar, Z. (2018). Islamic financial decision-making among SMEs in the Sultanate of Oman: An adaption of the theory of planned behaviour. Journal of Behavioral and Experimental Finance 20): 30–38.

Cloutier, J. and Roy, A. (2020). Consumer credit use of undergraduate, graduate and postgraduate students: An application of the theory of planned behaviour. Journal of Consumer Policy 43(3): 565–592.

Croy, G., Gerrans, P. and Speelman, C. (2012). Normative influence on retirement savings decisions: Do people care what employers and the government want? Australian Journal of Psychology 64(2): 83–91.

Danes, S.M. and Yang, Y. (2014). Assessment of the use of theories within the journal of financial counseling and planning and the contribution of the family financial socialization conceptual model. Journal of Financial Counseling and Planning 25: 53–68.

Gopi, M. and Ramayah, T. (2007). Applicability of theory of planned behavior in predicting intention to trade online. International Journal of Emerging Markets 2(4): 348–360.

Griffin, B., Loe, D. and Hesketh, B. (2012). Using proactivity, time discounting, and the theory of planned behavior to identify predictors of retirement planning. Educational Gerontology 38(12): 877–889.

Habibah, U., Hassan, I., Iqbal, M. S. and Naintara. (2018). Household behavior in practicing mental budgeting based on the theory of planned behavior. Financial Innovation 4(1): 1–14.

Hofmann, E., Hoelzl, E. and Kirchler, E. (2007). A comparison of models describing the impact of moral decision making on investment decisions. Journal of Business Ethics 82(1): 171–187.

Kimiyagahlam, F., Safari, M. and Mansori, S. (2019). Influential behavioral factors on retirement planning behavior: The case of Malaysia. Journal of Financial Counseling and Planning 30(2): 244–261.

Kimiyaghalam, F., Mansori, S., Safari, M. and Yap, S. (2017). Parents' influence on retirement planning in Malaysia. Family and Consumer Sciences Research Journal 45(3): 315–325.

Koropp, C., Kellermanns, F. W., Grichnik, D. and Stanley, L. (2014). Financial decision making in family firms. Family Business Review 27(4): 307–327.

Lai, C. P. (2019). Personality traits and stock investment of individuals. Sustainability 11(19): 5474.

Magwegwe, F. M. and Lim, H. (2020). Factors associated with the ownership of individual retirement accounts (IRAs): Applying the theory of planned behavior. Journal of Financial Counseling and Planning 32(1): 116–130.

Md Husin, M. and Ab Rahman, A. (2016). Predicting intention to participate in family takaful scheme using decomposed theory of planned behaviour. International Journal of Social Economics 43(12): 1351–1366.

Nosi, C., D'Agostino, A., Pagliuca, M. and Pratesi, C. (2017). Securing retirement at a young age: Exploring the intention to buy longevity annuities through an extended version of the theory of planned behavior. Sustainability 9(6): 1069.

Nurwanah, A., T., S., Rosidi, R. and Roekhudin, R. (2018). Determinants of tax compliance: theory of planned behavior and stakeholder theory perspective. Problems and Perspectives in Management 16(4): 395–407.

Paramita, S., Isbanah, Y., Kusumaningrum, T.M., Musdholifah, M. and Hartono, U. (2018). Young investor behavior: Implementation theory of planned behavior. International Journal of Civil Engineering and Technology 9(7): 733–746.

Raut, R. K., Das, N. and Kumar, R. (2018). Extending the theory of planned behaviour: Impact of past behavioural biases on the investment decision of Indian investors. Asian Journal of Business and Accounting 11(1): 265–291.

Rutherford, L.G. and DeVaney, S. (2009). Utilizing the theory of planned behavior to understand convenience use of credit cards. Journal of Financial Counseling and Planning 20(2): 48–63.

Shim, S., Barber, B. L., Card, N. A., Xiao, J. J. and Serido, J. (2009). Financial socialization of first-year college students: The roles of parents, work, and education. Journal of Youth and Adolescence 39(12): 1457–1470.

Sultana, S., Zulkifli, N. and Zainal, D. (2018). Environmental, social and governance (ESG) and investment decision in Bangladesh. Sustainability 10(6): 1831.

Taing, H. B. and Chang, Y. (2020). Determinants of tax compliance intention: Focus on the theory of planned behavior. International Journal of Public Administration 44(1): 62–73.

Warsame, M. H. and Ireri, E. M. (2016). Does the theory of planned behaviour (TPB) matter in Sukuk investment decisions?. Journal of Behavioral and Experimental Finance 12): 93–100.

Xiao, J. J. and Wu, J. (2006). Applying the theory of planned behavior to retain credit counseling clients. SSRN Electronic Journal .

Xiao, J. J., Tang, C., Serido, J. and Shim, S. (2011). Antecedents and consequences of risky credit behavior among college students: Application and extension of the theory of planned behavior. Journal of Public Policy & Marketing 30(2): 239–245.

Xiao, J.J. and Wu, G. (2008). Completing debt management plans in credit counseling: An application of the theory of planned behavior. Journal of Financial Counselling and Planning 19(2): 29–45.

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Yeo, K.H.K., Lim, W.M. & Yii, KJ. Financial planning behaviour: a systematic literature review and new theory development. J Financ Serv Mark (2023). https://doi.org/10.1057/s41264-023-00249-1

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Creation of capital and assets
Financial instruments – What Do We Need to Know About Them?
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GameStop: Amateur Investors Taking on Wall Street

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Need a nudge in the right direction? Or maybe you're after a whole new financial perspective? Whatever it is, our research paper writing service has got you covered. Dive into this assortment of finance research paper topics and choose an idea that speaks to you.

What Are Finance Research Topics?

finance is all about how money works – how it's made, how it's managed, and how it's spent. It essentially oversees the process of allocating resources and assets over time. This domain is fundamental for the smooth functioning of economies, businesses, and personal lives.

With this in mind, financial research topics are the subjects that explore how finances are managed. These subjects can range from anything from figuring out how Bitcoin affects the stock market to examining how a country's economy recovers after a recession.

Features of Good Finance Research Paper Topics

Now that you understand what a finance domain is all about, let’s discuss what makes finance research paper topics worthwhile. Before you pick any topic, make sure it fills the boxes of these requirements:

Contemporary relevance Your topic should be connected to current issues or trends in finance.
Focused scope Your topic should be specific enough to allow a deep analysis. For example, rather than exploring "Global finance," you might examine "The impact of cryptocurrency on global finance."
Data accessibility Ensure you can find enough information about your topic to base your research on.
Fresh perspective There are many aspects that have already been covered by other scholars. Make sure your topic offers fresh insights or explores a matter from a new angle.
Personal engagement If you're excited about your study, that's a good sign you've picked a winning topic.

How to Choose a Finance Research Paper Topic?

Choosing a finance research topic idea is like going on a treasure hunt. But don’t be afraid. Our online essay writer team has shared guidelines to help you find that 'X' marks the spot!

Explore possible directions Read articles, watch videos, listen to podcasts. As you search for topics, jot down interesting ideas that capture your attention.
Prioritize your interests Reflect on what really interests you. You might be fascinated by investment strategies or passionate about sustainable finance.
Uncover the gaps Look for questions that are yet unanswered or try to recognize unique angles.
Check for information Now, you need to ensure you have enough equipment and credible sources to work with.
Take a leap Once you've done all your groundwork, go ahead and pick a theme that resonates with your goals.

Now that you have a clue how to spot decent finance research topic ideas, let’s move one to the actual list of suggestions.

Finance Research Topics List

Get ready to navigate through our collection of finance research paper topic ideas! We've mapped out these suggestions to explore. Each of these topics can be further divided into subtopics for a more in-depth analysis.

Cryptocurrency's impact on traditional banking.
Sustainable investment practices and implications.
Unveiling the role of artificial intelligence in market predictions.
Microloans and their role in alleviating poverty.
Behavioral finance: Understanding investor psychology.
Making a case for teaching money management in schools.
The rise of fintech startups: Disruption or evolution?
Entering the era of digital wallets: What's next?
Exploring the balance between profit and social responsibility in impact investing.
Success of crowdfunding campaigns.
Securing our online vaults: The importance of cybersecurity in banking.
Strategies for recovery after an economic downturn.
Central banks and their contribution to economic stability.
Blockchain technology: A new era of transaction processing.
Robo-advisors in investment management.

Interesting Finance Research Topics

Fasten your seatbelts, scholars! We're about to take off on another round of academic adventure with interesting finance topics. With these ideas at hand, you are sure to find a captivating topic for your financial project.

How does pandemic affect the global economy?
Cryptocurrency: A bubble or new standard?
Influence of artificial intelligence on credit scoring systems.
Evolution and significance of green bonds.
Correlation between investor psychology and stock market volatility.
Impact of educational initiatives on personal money management.
Fintech startups and traditional banking: Rivals or collaborators?
Mobile wallets: Balancing convenience and security.
Is social responsibility becoming a decisive factor in investment choices?
Success factors in crowdfunding campaigns.
Prioritizing cybersecurity in the age of digital transactions.
Strategic approaches to post-recession recovery.
What role do central banks play in navigating economic turbulence?
Applications of blockchain beyond cryptocurrency.
Automated advisors and their impact on investment management.

Easy Finance Research Topics

Finance can be a tough nut to crack. But worry not, we've sifted through the complexities to bring you easy finance research papers topics. They'll help you find the right direction without overwhelming you. Are you ready to take the plunge?

Understanding credit scores: What makes them rise and fall?
Basics of personal budgeting.
An overview of stock market investing.
The rise and implications of mobile banking.
Microloans and their impact on small businesses.
Cryptocurrency: Hype or a game-changer?
Retirement planning: A critical component of personal finance.
What are financial regulations?
A closer look at online payment systems.
How does crowdfunding work?
Ethics in finance.
Emergency fund creation: Its significance in financial planning.
Tax planning: Exploring strategies and impacts on personal wealth.
Exploring e-commerce business models.
Insurance policies and their role in financial risk management.

Great Finance Research Paper Topics

The finance world is a goldmine of great research avenues waiting to be explored. Below we've collected fantastic research topics in finance to inspire your work. Now, all you need to do is take your pick and start investigating.

Exploring mergers and acquisitions in global corporations.
Is venture capital a catalyst for startup success?
Public fiscal policy across nations.
Insider trading: Unethical advantage or strategic insight?
Unpacking the intricacies of derivatives and risk management.
How digital transformation is reshaping banking services.
Harnessing mathematics for modeling in quantitative disciplines.
Investigating corporate social responsibility in multinational institutions.
Unraveling the role of AI in fraud prevention.
Are microcredit initiatives a key to broader financial inclusion?
Psychology that drives economic decisions.
How do credit rating agencies influence market dynamics?
Ripple effects of inflation on investment portfolios.
What role does forensic accounting play in unveiling fraud?
Balance between debt and equity in capital structuring.

Current Research Topics in Finance

Keeping pace with the latest trends is crucial in research, and finance is no exception. We've therefore rounded up current finance topics for a research paper, designed to resonate with the here and now.

Central Bank Digital Currencies (CBDCs): A new era in finance?
Sustainable finance: Navigating the path to greener economies.
Tech giants entering financial services: Disruption or evolution?
Exploring the implications of Brexit on global trade and finance.
Regulation of fintech in the era of digital currencies.
Influence of geopolitical conflicts on global fiscal markets.
Influence of political stability on stock market performance.
Data privacy in financial market.
Implications of quantum computing for financial cryptography.
Ethical implications of AI in finance.
Effects of trade wars on currency markets.
COVID-19 and the shift towards a cashless society.
Evaluating the stability of cryptocurrency markets.
Impact of remote work trends on global economies.
Leveraging big data for predictive analysis in finance.

>> Read more: Economics Research Paper Topics

Best Finance Research Topics

When it comes to research, not all topics are created equal. To bring out your best, we've curated a selection of the finest finance research topic list. These topics offer a blend of depth, relevance, and originality.

Financial implications of demographic shifts in developed economies.
Challenges of regulating emerging financial technologies.
Big data and its transformative role in credit risk management.
Comparative analysis of traditional banks and digital-only banks.
The rise of ethical investing: Fad or future of finance?
Financial resilience in the face of global crises.
Space economy: Financial prospects and challenges.
Financing strategies for small to medium enterprises in emerging markets.
Impact of policy changes on financial planning strategies.
Rise of smart contracts.
Global economic impacts of aging populations.
Assessing the financial viability of renewable energy projects.
Influence of machine learning on investment portfolio management.
The future of cash: An outdated concept or an enduring necessity?
Financial implications of autonomous vehicles.

Unique Financial Research Topics

Originality is the currency of academic research, and in finance, it's no different. To help you make your mark, we've compiled a list of truly unique finance paper topics. These topics were selected for their potential to bring fresh perspectives.

Finance in promoting circular economies.
Emerging finance strategies for carbon capture and storage.
Leveraging data analytics to predict market crashes.
Role of financial regulation in preventing tech monopolies.
Financing deep-sea exploration: Opportunities and challenges.
How are finance and agri-tech interrelated?
The cost of data breaches.
How do artificial intelligence laws affect fintech?
Exploring financial strategies for preserving biodiversity.
Fiscal strategies for promoting urban farming.
What role does financial policy play in addressing income inequality?
Financial modeling in the age of quantum computing.
Use of predictive analytics in insurance underwriting.
Role of finance in achieving zero-waste economies.
Financial dynamics of eSports.

Finance Research Topic Ideas for Presentation

Creating a lasting presentation can be a challenge, but it doesn’t have to be. We’ve gathered some of the most interesting financial topics that you can use for your next classroom or workplace presentation.

Tales of Wall Street: Lessons from the biggest fiscal scandals.
Economic meltdowns: Causes and lessons learned.
Gender disparity in wealth accumulation..
Sustainability and finance: The role of green investments.
Economic indicators: Predicting financial trends.
Power of budgeting: Key to financial success.
Venture capital's role in fostering innovation.
Microfinance's impact on poverty reduction.
Forensic accounting.
Wealth disparity: Analyzing the growing economic divide.
Inflation and interest: A balancing act.
Pension crisis in different countries.
Understanding financial derivatives: Beyond the basics.
Implications of tax evasion: A global perspective.
Impact of electronic payment systems on consumer behavior.

Finance Research Paper Topic Ideas for Students

Below we've handpicked a compilation of the best finance research paper topics perfect for budding scholars. To tailor to your academic level, we've meticulously sorted these themes, ensuring they resonate with your knowledge and challenge your critical thinking skills. Whether you're an undergraduate or a postgraduate seeking finance topics to write about, we've got you covered.

Finance Research Topics for College Students

College students majoring in finance should demonstrate solid critical analysis and problem-solving skills. Unlike high school, college provides a platform to delve deeper into complex issues and challenge existing theories. Finance projects for students in college should push beyond surface-level knowledge. With these requirements in mind, we've assembled a set of finance related research paper topics tailored to college students.

Algorithmic trading: A boon or a bane?
Financial literacy and student loan debt: Is there a connection?
Does social media influence stock market trends?
Effect of corporate scandals on stock prices.
Role of financial planning in achieving life goals.
Micro-financing in developing economies.
Sustainable investing: A look into its effectiveness.
Role of finance in promoting social entrepreneurship.
Impact of fiscal policy changes on small businesses.
Exploring the world of impact investing.
Personal finance: Comparing self-taught vs. formally educated approaches.
A comparative study of banking systems across the globe.
Financial planning: Analysis of gender-specific approaches.
Impact of economic sanctions on financial markets.
The dynamics of stock market bubbles.

Finance Research Paper Topics for University Students

University students should exhibit a higher degree of critical thinking and research, as compared to college students. Projects conducted at university level should be ambitious and focused on making an impact in the field of finance. To support your endeavors, we've provided a list of financial research topics for university students.

Financial management in non-profit organizations.
How do cultural factors influence investment decisions?
What significance does microfinancing have in women's empowerment?
Financial aftermath of natural disasters.
How do exchange rates affect the tourism industry?
Financial implications of deepfake technology.
Challenges and opportunities of financial decentralization.
Dissecting the financial fallout of global pandemics.
Strategies in the age of the sharing economy.
A comparative analysis of Eastern and Western investment philosophies.
Investigating the correlation between economic freedom and prosperity.
Role of finance in curbing wildlife trafficking.
Finance strategies to combat global water scarcity.
Economic resilience: Lessons from small island nations.
Analyzing fiscal challenges in the healthcare industry.

Finance Research Paper Topics for MBA

MBA students must showcase a deep understanding of finance principles and an aptitude for critical thinking. To ensure you stay ahead in the game, we've compiled a list of MBA finance topics for a paper to research.

Role of finance in the transition to clean energy.
Impact of intergenerational wealth transfer on the global economy.
Fiscal planning in global corporations.
Leadership and its impact on financial decision-making.
Role of finance in driving corporate digital transformation.
Venture capital investment strategies in emerging markets.
Implications of corporate restructuring.
Financial strategies for fostering corporate diversity and inclusion.
The future of finance in a post-fossil fuel world.
Risk management strategies in the era of FinTech disruption.
Developing fiscal strategies for business resilience post-pandemic.
How does extended reality (XR) impact the business world?
Effective pension fund management.
The use of blockchain technology in tracking funds and resources.
How do venture capitalists assess start-up risks?

Finance Research Topics by Subject

Finance is a vast field with many branches under its umbrella. To make it easier to browse through these research topic ideas for finance, we've organized them according to subject matter. Take a look at the following themes and find a fitting idea!

International Finance Research Paper Topics

The monetary landscape is constantly expanding. To keep up with these changes, many universities are now offering majors in international finance. For those interested in exploring the field on a global scale, here are some relevant international finance research topics.

Macroeconomic policies across different countries.
What role does foreign direct investment play in global economies?
Implications of capital flows on exchange rates.
Impact of international monetary systems on global financial stability.
Challenges and opportunities in cross-border investments.
Trade deficits and their effect on financial markets.
What is the role of financial institutions in global development?
Effects of currency manipulation.
Political and economic risks of investing abroad.
What impact do tariffs have on international finance?
Exploring the potential of Islamic Banking as an alternative system.
International taxation systems.
Financial education in promoting economic growth in developing countries.
Trade agreements in facilitating economic integration.
Foreign exchange risk management strategies.

Public Finance Research Topics

Public finance is a field of study that explores the use and redistribution of resources in the public sector. Below we prepared public finance topics to talk about.

Public-private partnership in infrastructure development.
Taxation policies for financial inclusion and reduced income inequality.
Public debt and economic growth: Evidence from developing countries.
Successful municipal bond issuance.
Public finance reforms: Enhancing transparency and accountability.
Public expenditure efficiency in achieving economic development goals.
Government spending in education and long-term economic growth.
Corruption's impact on public finance management.
Fiscal austerity measures.
Key factors influencing sovereign credit ratings.
Budget deficits in developed countries.
Comparing public and private pension systems.
Alternative revenue sources for governments.
The impact of international aid on developing countries.
Charity tax incentives and their effect on donations.

Corporate Finance Research Topics

Corporate finance is an important area of study that covers a variety of topics related to corporate investments, financial management, and stock market analysis. If you are unsure where to begin, look through these research topics in corporate finance.

Ethical investing's impact on company monetary strategies.
Fiscal management in achieving gender pay equality in firms.
Assessing 'greenwashing' in corporations from a monetary perspective.
Tax policy implications on business fiscal decisions.
Optimizing financial resources in multidivisional organizations.
Investment in cybersecurity: An essential aspect of business economics.
Transparency in corporate fiscal activities in the digital age.
Economic recessions and counteracting business monetary strategies.
How automation and AI transform company monetary management?
Corporate social responsibility's influence on fiscal strategies.
Short-term versus long-term financial planning in businesses.
Effects of international trade agreements on company monetary policies.
Mitigating supply chain risks through smart fiscal management.
Implications of corporate rebranding.
Inflation's effects on budgeting and forecasting in corporations.

Business Finance Research Topics

Business finance is a field of study that examines the allocation of capital within an organization. This subject involves understanding all aspects of financial management, from budgeting to risk assessment. Here are some business finance research topics you can explore.

Assessing financial health of startups: Metrics that matter.
Role of venture capitalists in boosting business growth.
Challenges of monetary management in family-owned businesses.
How effective is crowdfunding for startup financing?
Strategies for risk mitigation in retail business.
Artificial intelligence in business budgeting and forecasting.
Credit management in small to medium enterprises (SMEs).
Profitability analysis in manufacturing businesses.
Fiscal planning in business expansion.
Effects of global economic changes on business budget management.
Influence of e-commerce on financial strategies of retail businesses.
Corporate governance: A comparative analysis.
Private equity investment strategies.
Shareholder activism in today’s markets.
Portfolio management strategies for institutional investors.

>> Read more: Business Research Paper Topics

Personal Finance Research Topics

Personal finance focuses on understanding and managing your money to achieve financial security. Research in this area covers a wide array of aspects, from budgeting and saving to investment decisions and retirement planning. Here are some ideas for personal finance research topics:

Psychology of spending: Are we programmed to save or spend?
Retirement planning: How early is too early?
Impact of financial education on money management habits.
Role of technology in individual budgeting and saving.
Is debt an inevitable part of our life?
Investing for the future: Stocks vs real estate.
Healthcare costs and their impact on individual economic stability.
Millennials and money.
How does inflation impact our day-to-day budgeting?
Role of emergency funds in financial security.
Economic recessions on retirement planning.
Estate planning and wealth transfer.
Credit scores: Their significance in personal economic health.
Role of government policies in shaping individual investment strategies.
Balancing personal spending and saving.

Healthcare Finance Research Paper Topics

Healthcare finance is a specialized field of study that focuses on the financial management of healthcare organizations. It requires an understanding of both financial and healthcare-specific topics, such as reimbursement policies, budgeting and forecasting models, and population health management. Here are some research paper topics related to healthcare finance.

Budgeting challenges in public health institutions.
Role of telehealth in reducing healthcare costs.
Financing strategies for rare diseases treatments.
Impact of the aging population on healthcare expenditures.
Population health management and its monetary burdens.
Impact of COVID-19 on the financial stability of healthcare systems.
Value-based care: Monetary rewards or challenges?
Analyzing the costs of electronic health records implementation.
Cost-effectiveness of preventive care: An exploration.
Reimbursement policies and their effect on medical practices.
Influence of pharmaceutical pricing on healthcare costs.
Out-of-pocket costs: Barrier to healthcare access?
Role of financial management in healthcare mergers and acquisitions.
Medical bankruptcy: An unspoken reality?
Forecasting models for healthcare expenditures: A comparative study.

>> View more: Health Research Topics

Bottom Line on Finance Research Papers Topics

Hopefully, this list of finance research paper topics has given you some great ideas for your next project. Remember, the best way to make sure you write a good finance paper is to start with an interesting and informative topic. If you need any help with the writing process, don’t hesitate to contact our college paper writers .

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Accounting and Finance Thesis Topics

This page provides a comprehensive list of accounting and finance thesis topics designed to assist students in selecting an impactful subject for their thesis. Whether you are pursuing undergraduate, graduate, or postgraduate studies, the diverse array of topics presented here covers a broad spectrum of specialties within the field of accounting and finance. From traditional areas like audit and taxation to emerging fields like fintech and behavioral finance, this collection aims to cater to a variety of research interests and academic requirements. Each category is meticulously curated to inspire innovative thinking and encourage a deeper exploration of both established and contemporary issues in the discipline.

600 Accounting and Finance Thesis Topics

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Accounting Thesis Topics
Audit Thesis Topics
Banking Thesis Topics
Behavioral Finance Thesis Topics
Capital Markets Thesis Topics
Corporate Finance Thesis Topics
Corporate Governance Thesis Topics
Finance Thesis Topics
Financial Economics Thesis Topics
Financial Management Thesis Topics
Fintech Thesis Topics
Insurance Thesis Topics
International Finance Thesis Topics
Investment Thesis Topics
Management Accounting Thesis Topics
Personal Finance Thesis Topics
Public Finance Thesis Topics
Quantitative Finance Thesis Topics
Risk Management Thesis Topics
Taxation Thesis Topics

1. Accounting Thesis Topics

The impact of artificial intelligence on financial reporting and compliance.
Blockchain technology in accounting: disrupting traditional processes.
The role of ethical leadership in promoting sustainable accounting practices.
Comparative analysis of global accounting standards post-IFRS adoption.
Cultural influences on multinational accounting practices.
The future of green accounting in corporate sustainability initiatives.
Digital currencies and their accounting implications within multinational corporations.
The efficacy of automated accounting systems in small to medium enterprises.
Forensic accounting as a tool against cyber financial fraud.
Tax strategy and accounting ethics in the digital age.
Non-profit accounting challenges in a post-pandemic world.
Gig economy impacts on financial reporting and tax obligations.
Continuous auditing in real-time financial data environments.
Ethical conflicts in accounting decisions: a case study analysis.
The integration of blockchain for transparency in financial auditing.
Strategic management accounting techniques in agile organizations.
Predictive analytics in accounting and its impact on business strategy.
Cost management innovations in healthcare accounting.
Regulatory impacts on financial disclosures and corporate accounting.
Innovative financial planning tools for startup sustainability.
The role of environmental, social, and governance (ESG) criteria in financial decision-making.
Public sector accountability and accounting reforms.
Big data analytics in financial statement analysis.
Adapting accounting frameworks for emerging markets.
The dynamics of accounting professionalism and ethical standards.
Real-time financial reporting: challenges and advantages.
Mergers and acquisitions: accounting for corporate restructuring.
Artificial intelligence in audit operations: reshaping traditional frameworks.
Corporate sustainability reporting: critical analysis of current practices.
Tax evasion strategies and their impact on international accounting standards.

2. Audit Thesis Topics

The effectiveness of continuous auditing in detecting and preventing fraud.
Implementing a risk-based auditing framework in emerging markets.
Enhancing corporate governance with robust audit committee functions.
The comparative reliability of external audits versus internal controls.
The impact of the latest regulatory frameworks on auditing standards.
Ensuring auditor independence in a complex corporate milieu.
Blockchain applications in enhancing audit trail transparency.
Strategies for cybersecurity audits in financial institutions.
Cultural impacts on audit practices in global organizations.
The future of auditing: integrating real-time data analytics.
The relationship between audit quality and investment decisions.
Leveraging machine learning for enhanced audit precision.
Auditing ethics in the face of financial technology innovations.
The role of internal audits in reinforcing cybersecurity measures.
Auditing challenges in decentralized platforms using blockchain technology.
Comparative study of traditional and modern audit methodologies.
The impact of data privacy regulations on audit practices globally.
Developing effective audit strategies for cloud-based accounting systems.
The role of audits in enhancing business resilience during economic downturns.
Fraud detection techniques in an AI-driven audit environment.
The effectiveness of environmental auditing in promoting corporate sustainability.
Auditing for non-financial information: challenges and methodologies.
Enhancing the transparency of public sector audits to improve trust.
Implementing forensic auditing techniques in corporate fraud detection.
The evolution of auditing standards in response to global financial crises.
The role of technology in transforming audit documentation and reporting.
Impact of auditor-client relationships on audit quality.
Strategies for overcoming challenges in cross-border audit practices.
Auditing supply chain operations for financial integrity and sustainability.
The future of regulatory audits in a dynamically changing global market.

3. Banking Thesis Topics

The future of digital banking post-COVID-19.
Analyzing the impact of blockchain technology on international banking transactions.
The role of central banks in managing digital currency implementations.
Sustainable banking practices: integrating ESG factors into bank operations.
The evolution of consumer banking behavior influenced by mobile technologies.
Cybersecurity strategies in banking: preventing breaches in a digital age.
The effectiveness of monetary policy in digital banking ecosystems.
Banking regulations and their impact on global economic stability.
Fintech innovations and their integration into traditional banking systems.
The impact of banking deserts on rural economic development.
Artificial intelligence in banking: reshaping customer service and risk management.
The role of ethical banking in promoting financial inclusion.
Impact of Brexit on UK banking: challenges and opportunities.
Stress testing in banks: approaches and implications for financial stability.
Consumer data protection in online banking: challenges and solutions.
The influence of microfinancing on developing economies.
The impact of interest rate changes on banking profitability.
Role of banking in supporting sustainable energy financing.
Technological disruptions in banking: a threat or an opportunity?
The effect of global banking regulations on emerging market economies.
Strategies for managing credit risk in post-pandemic recovery phases.
The growing role of Islamic banking in the global finance sector.
The impact of non-traditional banking platforms on financial services.
Data analytics in banking: enhancing decision-making processes.
Cross-border banking challenges in a globalized economy.
The future of branchless banking: implications for customer engagement.
Banking transparency and its effects on consumer trust.
The role of banks in facilitating international trade.
Innovations in mortgage banking and their impact on housing markets.
The effects of banking consolidation on competition and service delivery.

4. Behavioral Finance Thesis Topics

The psychological effects of financial losses on investment behavior.
Behavioral biases in financial decision-making: a case study of stock market investors.
The impact of social media on investor behavior and market outcomes.
Cognitive dissonance and its effect on personal financial planning.
The role of emotional intelligence in financial trading success.
Exploring the herding behavior in cryptocurrency markets.
Behavioral finance strategies to mitigate impulse spending.
The influence of cultural factors on investment decisions.
Psychological factors driving risk tolerance among millennials.
The effect of behavioral finance education on individual investment choices.
Overconfidence and trading: an analysis of its impact on stock returns.
Decision-making processes under financial stress: a behavioral perspective.
The role of behavioral factors in the success of financial advisement.
The impact of behavioral insights on retirement savings plans.
Anchoring bias in financial forecasting and market predictions.
The role of optimism and pessimism in financial markets.
Behavioral finance and its role in shaping sustainable investing.
Understanding the gap between perceived and actual financial knowledge.
Behavioral interventions to improve financial literacy.
The influence of personality traits on financial decision-making.
Behavioral economics: redesigning financial products for better decision outcomes.
The effectiveness of nudge theory in personal finance management.
The impact of financial anxiety on decision-making efficiency.
The behavioral aspects of financial negotiation.
Market sentiment analysis: behavioral finance in algorithmic trading.
The psychological impact of financial news on market movements.
Behavioral finance insights into crowd-funding behaviors.
Ethical considerations in behavioral finance research.
The influence of age and life stage on financial risk-taking.
Behavioral finance in corporate decision-making: case studies of strategic financial planning.

5. Capital Markets Thesis Topics

The future trajectory of global capital markets in the post-pandemic era.
Impact of quantitative easing on emerging market economies.
The role of technology in enhancing liquidity in capital markets.
Analysis of market efficiency in different economic cycles.
The effects of political instability on capital market performance.
Environmental, Social, and Governance (ESG) criteria and their impact on capital market trends.
Cryptocurrency as an emerging asset class in capital markets.
The role of sovereign wealth funds in global capital markets.
Algorithmic trading and its influence on market dynamics.
The impact of international sanctions on capital markets.
High-frequency trading: market benefits and systemic risks.
The role of capital markets in financing green energy initiatives.
Impact of fintech on traditional capital market structures.
Corporate bond markets and their responsiveness to economic changes.
The influence of central bank policies on capital market stability.
Market anomalies and behavioral economics: exploring the deviations from market efficiency.
The role of investor sentiment in capital market fluctuations.
Crowdfunding as an alternative financing mechanism in capital markets.
Regulatory challenges facing capital markets in developing countries.
The future of securitization post-global financial crisis.
Derivatives markets and their role in risk management.
The impact of technology IPOs on market perceptions.
Venture capital and its influence on market innovation.
Corporate governance and its effect on equity prices.
The role of market makers in maintaining market stability.
Ethical investing and its traction in the capital market.
The impact of demographic shifts on investment trends.
The interplay between macroeconomic policies and capital market growth.
Leveraging machine learning for capital market predictions.
The role of media in shaping public perceptions of capital markets.

6. Corporate Finance Thesis Topics

The impact of global economic shifts on corporate financing strategies.
Analyzing the role of corporate finance in driving sustainable business practices.
The influence of digital transformation on corporate financial management.
Risk management in corporate finance during uncertain economic times.
The effects of corporate financial restructuring on shareholder value.
Financing innovation: How corporations fund new technology investments.
The role of private equity in corporate finance.
Strategies for managing corporate debt in a fluctuating interest rate environment.
Impact of mergers and acquisitions on corporate financial health.
ESG (Environmental, Social, and Governance) factors in corporate finance decisions.
The future of corporate finance in the era of blockchain and cryptocurrencies.
The role of financial analytics in optimizing corporate investment decisions.
Corporate finance challenges in emerging markets.
Venture capital and its impact on corporate growth.
Corporate financial transparency and its effect on investor relations.
The role of CFOs in navigating new global tax laws.
Financial technology innovations and their implications for corporate finance.
The impact of international trade agreements on corporate financing.
Corporate finance strategies in the healthcare sector.
The influence of shareholder activism on corporate financial policies.
The future of corporate banking relationships.
Capital allocation decisions in multinational corporations.
The role of artificial intelligence in financial forecasting and budgeting.
The impact of demographic changes on corporate finance strategies.
Managing financial risks associated with climate change.
The role of corporate finance in business model innovation.
Financing strategies for startups versus established firms.
The effect of corporate culture on financial decision-making.
Corporate governance and its influence on financial risk management.
The evolving landscape of securities regulations and its impact on corporate finance.

7. Corporate Governance Thesis Topics

The impact of governance structures on corporate sustainability and responsibility.
Board diversity and its effect on corporate decision-making processes.
Corporate governance mechanisms to combat corruption and enhance transparency.
The role of stakeholder engagement in shaping governance practices.
Analyzing the effectiveness of corporate governance codes across different jurisdictions.
The influence of technology on corporate governance practices.
Governance challenges in family-owned businesses.
The impact of corporate governance on firm performance during economic crises.
Shareholder rights and their enforcement in emerging market economies.
The future of corporate governance in the digital economy.
The role of ethics in corporate governance.
Corporate governance and risk management: interlinkages and impacts.
The effects of regulatory changes on corporate governance standards.
ESG integration in corporate governance.
The role of internal audits in strengthening corporate governance.
Corporate governance in non-profit organizations.
The influence of activist investors on corporate governance reforms.
The effectiveness of whistleblower policies in corporate governance.
Cybersecurity governance in large corporations.
Succession planning and governance in large enterprises.
The impact of international governance standards on local practices.
The role of governance in preventing financial fraud.
Corporate governance in the fintech industry.
The relationship between corporate governance and corporate social responsibility.
The impact of global economic policies on corporate governance.
Data privacy and security: Governance challenges in the information era.
The role of governance in managing corporate crises.
The impact of leadership styles on corporate governance effectiveness.
Corporate governance and its role in enhancing business competitiveness.
The evolving role of board committees in strategic decision-making.

8. Finance Thesis Topics

Financial implications of global climate change initiatives.
The future of financial markets in the face of geopolitical uncertainties.
The impact of microfinance on poverty alleviation in developing countries.
Cryptocurrency: emerging financial technology and its regulatory challenges.
The role of financial institutions in fostering economic resilience.
Innovations in financial products for an aging global population.
The impact of digital wallets on traditional banking systems.
Financial literacy and its role in promoting socio-economic equality.
The effect of fintech on the global remittance landscape.
Risk management strategies in finance post-global financial crisis.
The influence of behavioral finance on investment strategies.
The evolving role of central banks in digital currency markets.
Financing sustainable urban development.
The impact of artificial intelligence on personal finance management.
Peer-to-peer lending and its effect on traditional credit markets.
The role of finance in facilitating international trade and development.
The implications of Brexit on European financial markets.
Financial derivatives and their role in modern economies.
The effects of sanctions on financial transactions and economic stability.
The future of investment banking in a technology-driven world.
Financial models for predicting economic downturns.
The impact of financial education on consumer behavior.
Securitization of assets: benefits and risks.
The role of financial services in disaster recovery and resilience.
Emerging trends in global investment patterns.
Financial strategies for managing corporate mergers and acquisitions.
The influence of cultural factors on financial systems and practices.
The effectiveness of financial sanctions as a geopolitical tool.
The future of financial privacy in an interconnected world.
The role of finance in promoting renewable energy investments.

9. Financial Economics Thesis Topics

The economic impact of quantitative easing in developed versus emerging markets.
The implications of negative interest rates for global economies.
Economic predictors of financial market behavior in crisis periods.
The relationship between government debt and economic growth.
Economic consequences of income inequality on national financial stability.
The effects of consumer confidence on economic recovery.
The role of economic policy in shaping housing market dynamics.
The impact of global trade wars on financial economics.
The influence of demographic shifts on economic policy and financial markets.
Macroeconomic factors influencing cryptocurrency adoption.
The role of economic theory in developing financial regulation.
The impact of tourism economics on national financial health.
Economic strategies for combating hyperinflation.
The role of sovereign wealth funds in global economic stability.
Economic analyses of environmental and resource economics.
The implications of fintech on traditional economic models.
Economic impacts of global pandemic responses by governments.
The future of labor markets in a digitally transforming economy.
Economic considerations in renewable energy finance.
The economics of privacy and data security in financial transactions.
The role of international economic organizations in financial regulation.
Economic effects of technological innovation on traditional industries.
The impact of economic sanctions on international relations and finance.
The role of consumer spending in economic recovery phases.
Economic policies for addressing wealth gaps.
The economic impact of climate change on financial sectors.
The role of economic research in crafting sustainable development goals.
The economics of health and its impact on national economies.
Global economic trends and their implications for financial forecasting.
The relationship between educational economics and workforce development.

10. Financial Management Thesis Topics

The strategic role of financial management in corporate sustainability.
Impact of global financial regulations on corporate financial management.
Financial management techniques for optimizing supply chain operations.
The role of financial management in crisis recovery and resilience.
Emerging technologies in financial management systems.
The impact of corporate social responsibility on financial management strategies.
Financial planning for long-term business growth in volatile markets.
The influence of global economic conditions on financial management practices.
Financial management challenges in the nonprofit sector.
The role of financial management in mergers and acquisitions.
The impact of digital currencies on corporate financial management.
Financial risk management strategies in an era of global uncertainty.
The role of financial management in enhancing operational efficiency.
Financial management best practices in the tech industry.
The impact of consumer behavior trends on financial management.
Financial management in the healthcare sector: Challenges and strategies.
The influence of artificial intelligence on financial decision-making processes.
Financial management strategies for small and medium-sized enterprises (SMEs).
The role of financial management in international expansion.
Ethical considerations in financial management practices.
Financial management in the energy sector: challenges and innovations.
Financial strategies for managing environmental risks.
The role of financial management in startup success and sustainability.
The impact of financial transparency on corporate governance.
Financial management and investor relations: integrating strategic communication.
The role of financial management in educational institutions.
Managing financial instability in emerging markets.
Financial management practices in the gig economy.
The role of financial managers in driving business model innovations.
Financial management tools for effective capital allocation.

11. Fintech Thesis Topics

The impact of blockchain on global payment systems.
Regulation challenges for fintech innovations: A cross-country analysis.
The role of fintech in democratizing access to financial services.
Machine learning and artificial intelligence in predictive financial modeling.
The evolution of peer-to-peer lending platforms and their impact on traditional banking.
Cryptocurrency adoption: consumer behavior and market dynamics.
The future of robo-advisors in personal finance management.
The impact of mobile banking on financial inclusion in developing countries.
Fintech solutions for microfinance: scalability and sustainability issues.
Data privacy and security challenges in fintech applications.
The role of fintech in enhancing cybersecurity in financial transactions.
The impact of fintech on traditional banking employment.
Regulatory technology (RegTech) for compliance management: trends and challenges.
Fintech and its role in combating financial crime and money laundering.
The influence of fintech on the insurance industry: insurtech innovations.
Fintech investments: market trends and future prospects.
The role of big data analytics in fintech.
Digital wallets and the future of consumer spending behavior.
Impact of fintech on wealth management and investment strategies.
Challenges and opportunities of implementing distributed ledger technology in financial services.
Consumer trust and fintech: building relationships in a digital age.
The evolution of payment gateways: fintech at the forefront.
Fintech’s impact on cross-border payments and remittances.
The role of fintech in the development of smart contracts.
The influence of fintech on financial market transparency.
Fintech as a driver for financial sector innovation in emerging markets.
The impact of artificial intelligence on risk assessment in fintech.
Fintech and financial stability: an analysis of systemic risks.
The role of fintech in streamlining government and public sector finance.
Ethical considerations in fintech: balancing innovation with consumer protection.

12. Insurance Thesis Topics

The future of insurance in the age of climate change.
The impact of artificial intelligence on underwriting and risk management.
Cyber risk insurance: emerging challenges and opportunities.
The role of insurance in managing public health crises.
Innovations in health insurance: technology-driven approaches to coverage.
The evolution of automotive insurance in the era of autonomous vehicles.
Insurance fraud detection using big data analytics.
Regulatory challenges in the global insurance market.
The influence of behavioral economics on insurance product design.
The role of reinsurance in stabilizing insurance markets.
Insurance and financial inclusion: strategies for reaching underserved communities.
The impact of technological advancements on insurance pricing models.
The role of insurance in disaster risk reduction and management.
Customer data management in the insurance industry: privacy versus personalization.
The future of life insurance: adapting to demographic shifts.
The integration of IoT devices in home insurance policies.
Blockchain applications in the insurance industry.
The impact of social media on insurance marketing and customer engagement.
Insurance as a tool for sustainable business practices.
The role of insurance companies in promoting corporate social responsibility.
The challenges of health insurance in a post-pandemic world.
Emerging risks and insurance: addressing the needs of the gig economy.
The role of insurance in mitigating financial risks associated with sports and entertainment.
Ethical challenges in insurance: discrimination in risk assessment.
The impact of global political instability on the insurance sector.
Insurance products tailored for the elderly: opportunities and challenges.
The role of insurance in fostering innovation in the construction industry.
Insurance and climate resilience: protecting vulnerable communities.
The evolving landscape of travel insurance amid global uncertainties.
The role of insurance in the transition to renewable energy sources.

13. International Finance Thesis Topics

The impact of currency fluctuations on international trade.
Strategies for managing foreign exchange risk in multinational corporations.
The effects of global economic sanctions on financial markets.
The role of international financial institutions in economic development.
Cross-border mergers and acquisitions: challenges and opportunities.
The influence of geopolitical tensions on global financial stability.
International tax planning and its implications for global investment.
The future of international financial regulation in a post-Brexit Europe.
The impact of emerging markets on global finance.
Foreign direct investment trends and their economic impacts.
The role of sovereign wealth funds in international finance.
The challenges of implementing international accounting standards.
The impact of international remittances on developing economies.
The role of digital currencies in reshaping international finance.
The effects of protectionist trade policies on global finance.
International financial market trends and their implications for investors.
The role of expatriate remittances in national economic stability.
The impact of international trade agreements on financial services.
Global risk management strategies in the finance sector.
The role of green finance in promoting sustainable development.
The impact of international environmental policies on financial strategies.
The future of global banking in the context of rising nationalism.
The role of international finance in disaster recovery and resilience.
The influence of international finance on poverty reduction strategies.
Strategies for financing international healthcare initiatives.
The evolving role of Islamic finance in the global market.
The impact of fintech on international banking and finance.
Challenges in financing international infrastructure projects.
The role of international finance in climate change mitigation.
Ethical considerations in international finance: fostering global financial integrity.

14. Investment Thesis Topics

The role of ESG criteria in investment decision-making.
The impact of technological innovation on investment strategies.
Market reaction to unexpected global events and its effect on investment portfolios.
Behavioral biases in investment: a study of market anomalies.
The future of real estate investment in a fluctuating economic landscape.
The role of quantitative analysis in portfolio management.
The impact of demographic changes on investment trends.
Strategies for sustainable and responsible investing.
The influence of regulatory changes on investment strategies.
The role of artificial intelligence in enhancing investment decisions.
Cryptocurrency investment: risks and opportunities.
The impact of global trade tensions on investment strategies.
Investment strategies for low interest rate environments.
The role of crowdfunding in the investment landscape.
The impact of social media on investor sentiment and stock prices.
The effectiveness of passive versus active investment strategies.
The role of venture capital in driving technological innovation.
The future of bond markets in a changing economic context.
The role of international investments in diversifying portfolios.
Impact of inflation expectations on investment decisions.
The evolving landscape of commodity investments.
Investment opportunities in emerging markets.
The impact of fiscal policy changes on investment strategies.
The role of hedge funds in the current financial market.
The influence of central bank policies on investment strategies.
The role of pension funds in the global investment market.
Ethical investing: balancing profit and principles.
The future of investments in renewable energy.
The impact of political stability on foreign investments.
The role of technology in asset management and valuation.

15. Management Accounting Thesis Topics

The role of management accounting in strategic decision-making.
Cost management strategies in the era of global supply chain disruptions.
The impact of digital transformation on management accounting practices.
The role of management accounting in environmental sustainability.
Performance measurement and management in diverse organizational settings.
Risk management strategies in management accounting.
The evolving role of management accountants in corporate governance.
The impact of regulatory changes on management accounting.
The role of management accounting in healthcare cost containment.
The influence of management accounting on operational efficiency.
Management accounting practices in nonprofit organizations.
The role of cost analysis in pricing strategies.
The impact of technological advancements on budgeting and forecasting.
The effectiveness of management accounting tools in project management.
The role of management accounting in mergers and acquisitions.
The impact of cultural differences on management accounting systems.
The role of management accounting in enhancing business resilience.
The influence of management accounting on business model innovation.
Management accounting in the digital economy: challenges and opportunities.
Strategic cost management for competitive advantage.
The role of management accounting in supply chain optimization.
The future of management accounting in the context of AI and automation.
The impact of financial technology on management accounting.
The role of management accounting in crisis management and recovery.
Performance metrics and their impact on organizational success.
The role of management accounting in supporting sustainable practices.
The impact of global economic conditions on management accounting.
The role of predictive analytics in management accounting.
The effectiveness of internal controls in management accounting.
The role of management accounting in international business expansion.

16. Personal Finance Thesis Topics

The impact of financial technology on personal savings strategies.
Behavioral insights into personal debt management.
The role of personal finance education in shaping financial literacy.
The influence of economic downturns on personal investment choices.
Retirement planning: trends and strategies in the current economic climate.
The effectiveness of digital tools in personal budgeting and financial planning.
Analyzing the gender gap in personal finance management.
The impact of cultural factors on personal saving and spending habits.
Personal finance challenges for the gig economy workers.
The role of personal finance in achieving long-term financial security.
Cryptocurrency as a personal investment: risks and rewards.
The impact of peer-to-peer lending platforms on personal finance.
The influence of social media on personal financial decisions.
Ethical considerations in personal financial advice.
The evolution of consumer credit markets and its impact on personal finance.
Strategies for managing personal financial risk.
The role of emergency funds in personal financial planning.
The impact of student loans on financial planning for millennials.
Personal finance strategies for different life stages.
The effect of inflation on personal savings and investment strategies.
The future of personal finance in the age of AI and automation.
The role of insurance in personal financial planning.
The impact of tax laws changes on personal finance strategies.
The psychology of spending: understanding consumer behavior.
Personal financial planning for expatriates: strategies and challenges.
The role of estate planning in personal finance.
Impact of healthcare costs on personal financial stability.
The role of financial advisors in the era of self-directed financial planning.
Financial planning for sustainable living: integrating environmental considerations.
The challenges and opportunities in personal wealth building.

17. Public Finance Thesis Topics

The role of public finance in addressing income inequality.
Fiscal policies for sustainable economic growth.
The impact of taxation on small businesses.
Public finance management in times of economic crisis.
The role of government spending in stimulating economic development.
Strategies for managing national debt.
The effectiveness of public welfare programs.
The challenges of healthcare financing in public sectors.
The impact of international aid on public finance.
Public finance strategies for environmental conservation.
The role of public finance in urban development.
Tax evasion and its implications for public finance.
The impact of public finance on education quality and access.
Financing public infrastructure: challenges and solutions.
The role of public finance in disaster management.
The effectiveness of fiscal decentralization.
Public finance reforms and their impact on service delivery.
The challenges of pension financing in the public sector.
The impact of political stability on public financial management.
Public-private partnerships: financial implications and models.
The role of transparency in public finance.
The impact of corruption on public financial management.
Financing renewable energy projects through public funds.
The role of public finance in health care reform.
The effectiveness of government subsidies in promoting economic sectors.
The challenges of financing sustainable transportation systems.
The impact of demographic changes on public finance.
The role of digital technologies in improving public finance management.
The global trends in public finance and their implications for domestic policy.
The impact of climate change on public financial strategies.

18. Quantitative Finance Thesis Topics

The application of machine learning algorithms in predicting stock market trends.
The role of quantitative methods in risk management.
Developing advanced models for credit risk assessment.
The impact of high-frequency trading on market stability.
The use of big data analytics in portfolio management.
Quantitative approaches to asset pricing in volatile markets.
The effectiveness of quantitative strategies in hedge funds.
The role of algorithmic trading in enhancing market efficiency.
Quantitative models for predicting bond market movements.
The impact of quantitative finance on regulatory compliance.
The application of blockchain technology in quantitative finance.
The challenges of quantitative finance in cryptocurrency markets.
The integration of environmental, social, and governance (ESG) factors in quantitative analysis.
The role of quantitative finance in private equity valuations.
Developing quantitative approaches for derivatives pricing.
The impact of quantitative finance techniques on financial advising.
Quantitative methods for assessing market liquidity.
The role of sentiment analysis in quantitative finance.
Quantitative trading strategies for commodities markets.
The application of game theory in financial strategy.
Quantitative finance and its role in insurance underwriting.
The impact of geopolitical events on quantitative financial models.
The use of quantitative finance in forecasting economic downturns.
Machine learning models for real estate investment analysis.
Quantitative finance techniques in sports betting markets.
The impact of artificial intelligence on financial market predictions.
Quantitative methods for managing currency exchange risks.
The role of quantitative finance in managing pension fund assets.
The effectiveness of quantitative models in emerging financial markets.
The future of quantitative finance in a globally interconnected economy.

19. Risk Management Thesis Topics

The role of risk management in enhancing corporate resilience.
Cybersecurity risks in financial institutions: management strategies.
The impact of climate change on risk management in insurance.
Risk management techniques in the fintech sector.
The effectiveness of enterprise risk management (ERM) frameworks.
Risk management in global supply chains.
The role of risk management in sustainable business practices.
Financial risks associated with political instability.
The challenges of operational risk management in complex organizations.
Risk management strategies for digital transformation projects.
The impact of regulatory changes on risk management practices.
Risk assessment techniques for investment in volatile markets.
The role of data analytics in risk identification and mitigation.
Risk management considerations in mergers and acquisitions.
The impact of reputation risk on corporate strategy.
Risk management in the healthcare industry.
The challenges of risk management in the energy sector.
The role of risk management in nonprofit organizations.
Implementing risk management in public sector entities.
The future of risk management in the context of AI advancements.
Credit risk management in banking post-global financial crisis.
Risk management strategies for emerging technologies.
The role of psychological factors in risk management decision-making.
Legal risks in international business operations.
The impact of cultural differences on risk management strategies.
Environmental risk management and corporate responsibility.
Risk management techniques for protecting intellectual property.
The role of insurance in comprehensive risk management.
The challenges of liquidity risk management in financial markets.
The future of risk management education and training.

20. Taxation Thesis Topics

The impact of digital economy on global taxation frameworks.
Tax policy as a tool for economic recovery post-pandemic.
The effectiveness of tax incentives in promoting renewable energy investments.
The role of taxation in addressing wealth inequality.
International tax competition and its implications for global economic stability.
The challenges of implementing value-added tax (VAT) in developing countries.
Tax evasion and its impact on national economies.
The role of tax policy in encouraging corporate social responsibility.
The impact of tax reforms on small and medium-sized enterprises.
Comparative analysis of progressive versus flat tax systems.
The effectiveness of digital services taxes in the global economy.
The role of taxation in sustainable development goals.
Taxation strategies for digital currencies and blockchain transactions.
The impact of tax policies on consumer behavior.
The role of taxation in healthcare financing.
Tax compliance challenges in the gig economy.
The implications of tax havens on international relations.
The role of automated systems in improving tax collection efficiency.
Taxation and its impact on foreign direct investment flows.
The future of estate taxes and their role in wealth distribution.
Taxation of e-commerce transactions.
The impact of international tax treaties on cross-border investments.
The role of taxation in the informal economy.
The challenges of carbon taxes in combating climate change.
The role of tax audits in enhancing fiscal transparency.
The impact of tax policies on retirement planning.
Taxation challenges in the pharmaceutical industry.
The role of taxation in funding public education.
The impact of taxation on agricultural development.
The future of consumption taxes in an increasingly digital world.

This comprehensive list of accounting and finance thesis topics has been curated to reflect the latest challenges and emerging trends within the field. Whether you are exploring traditional areas like taxation and corporate finance or delving into the evolving realms of fintech and international finance, these topics are designed to provide a robust foundation for your thesis research. Each category is intended to spark innovative thinking and encourage a deep exploration of issues that are pivotal to the current and future landscape of accounting and finance. By selecting a topic from this extensive collection, students can ensure their research is relevant, timely, and contributes meaningfully to their academic and professional growth in the field of accounting and finance.

The Range of Accounting and Finance Thesis Topics

Accounting and finance stand as critical pillars in the modern economic and corporate world, guiding everything from daily business operations to global financial strategies. The study of these disciplines is not just about learning to balance books or manage corporate assets; it’s about understanding the forces that drive economic activities and shape financial landscapes. Research in accounting and finance is paramount as it provides the empirical evidence needed to develop robust financial models, innovative management practices, and effective regulatory policies. The relevance of accounting and finance thesis topics is thus foundational to nurturing informed, adept professionals capable of navigating the complexities of financial markets and addressing the challenges of economic flux.

Current Issues in Accounting and Finance

Globalization and Regulatory Complexity : As businesses operate across borders, the complexity of regulatory compliance increases. Researchers are tasked with exploring the implications of global regulatory frameworks and their synchronization, or lack thereof, which affects multinational corporations and global financial stability.
Technological Disruptions : The rapid integration of technologies such as blockchain, AI, and machine learning in financial operations presents both opportunities and challenges. Studies focus on their impacts on financial privacy, security, and new types of financial crime, as well as their potential to improve efficiency and transparency.
Ethical and Sustainability Challenges : With rising concerns over corporate responsibility and sustainable development, research is increasingly focusing on how financial practices can be aligned with ethical standards and sustainability goals. This includes studies on green financing, ethical investing, and the financial implications of corporate sustainability initiatives.

Recent Trends in Accounting and Finance

Automation and Data Analytics : The adoption of advanced data analytics and automation tools is transforming traditional accounting tasks. Research topics explore the impact of these technologies on workflow efficiencies, data accuracy, and strategic decision-making within financial departments.
Sustainable Finance : As the demand for environmentally and socially responsible investment options grows, there is an increasing focus on how financial markets can support ESG principles. Researchers examine the integration of sustainability into financial analysis and decision-making processes.
Fintech Innovations : The emergence of fintech and its components like mobile payments, peer-to-peer lending, and cryptocurrencies are reshaping the financial services industry. Theses may focus on the regulatory challenges, market dynamics, and consumer behavior influenced by these innovations.

Future Directions in Accounting and Finance

Digital Transformation : Future research will likely delve deeper into the consequences and potentials of continued digital transformation in finance, such as the widespread adoption of internet of things (IoT) technologies and further advancements in AI for automated trading and personal finance management.
Predictive Finance and AI : With AI’s increasing capability to predict financial outcomes, future topics could include the development of AI-driven models for credit scoring, risk management, and investment strategies, emphasizing their accuracy, ethical considerations, and regulatory needs.
Sustainability and Finance : An emerging research frontier is the intersection of finance with global sustainability challenges. Potential topics include the financing of climate change initiatives, the role of financial institutions in promoting sustainable practices, and the creation of innovative financial products that support sustainable economic growth.

The breadth of accounting and finance thesis topics is indicative of the field’s extensive scope and its significant impact on societal and economic frameworks. Continued research is essential for advancing theoretical foundations and developing practical applications that address both current challenges and future opportunities. This ongoing academic inquiry is crucial for fostering a financial landscape that is not only robust and dynamic but also ethical and sustainable, ensuring that the field of accounting and finance remains at the forefront of economic innovation and societal advancement.

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15 Personal finance topics and subtopics for 2022

15 Personal Finance Topics You Should Master In 2024

Last updated on February 26th, 2024 at 07:25 pm

In this post, you’re going to uncover 15 different personal finance topics and dozens of subtopics.

Personal finance management is important when it comes to money. Because we need to face it daily.

From credit cards to shopping to paying off debt and earning money all revolves around personal finance. Knowing it can help you make a fortune and cut out extra costs.

So 15 major topics are the most important.

Let’s dive into the details and learn more.

15 Personal Finance Topics You Should Master

Below financial topics below range from debt to investment and savings. As well as retirement, insurance, and money management.

Let’s explore them one by one:

personal finance topics you should know about

The first and foremost topic here is debt .

Debt is any amount you owe to any other lender. It comes with an interest rate which you need to pay with the principal amount over time. The common types of debt include credit card debt, mortgage debt, student loans, and personal loans.

But this doesn’t end here. There are multiple related terminologies and types you should know.

Let’s explain them briefly.

1. Revolving debt and Non-Revolving debt

Debt falls into two main categories. One is called revolving debt which means it revolves around a cycle. You borrow it, pay it, and then again borrow it. The most common type of revolving debt is a credit card loan. You borrow, pay, and then again borrow.

The second major type is called non-revolving or installment debt. Here you only borrow for a single purpose not frequently and then pay it in installments over time. For example, mortgage debt, student loans, and personal loans.

2. Secured debt and Unsecured debt

The revolving and non-revolving debt fall further into secured and unsecured debt.

A secured debt has security, a guarantee, or any other type of collateral. If the borrower isn’t able to repay the loan then the lender seizes the collateral to recover the loan. Collateral can be a house, property, land, gold, bank account, or any other.

While unsecured debts are given to borrowers with no collateral. There is no security, that’s why interest rates are also higher. They’re normally given based on how much credit score a borrower has. The higher the credit score is, the more money he/she can borrow and get lower interest rates with less effort.

These loans are further categorized into multiple types depending on their purpose. Here are 8 of the most common types:

3. Student loan

These loans are borrowed by students to complete their education. Students that are undergraduate and want to take professional education. This also includes amounts borrowed by parents to meet their child’s educational needs.

Student loans are further categorized into two main categories:

Federal student loans
Private student loans

Federal student loans are given by the US Department of Education through their approved services. These loans have lower rates and other perks and benefits like forgiveness, refinance, forbearance, and zero interest for a specific period. They are further subdivided into:

Direct subsidized loans
Direct unsubsidized loans
Direct PLUS loans

While private student loans are borrowed from outside private banks, and lending institutions. They have higher interests with few benefits.

4. Personal loans

A personal loan is borrowed to spend on a variety of needs. There is no specific purpose. You can spend on any need you have. For example, weddings, debt consolidation, vacations, personal expenses, buying a car, etc.

It is a type of installment loan like a mortgage or car loan. So it falls into non-revolving debt.

Personal loans are unsecured loans. Unsecured options have a higher risk for lenders so they charge higher interest. Also, your credit report and credit score both matter a lot.

5. Home equity loan

In a home equity loan, you borrow money against your ownership of the home.

For example, you purchased a $100k mortgage to purchase a home and you’ve paid out $30,000. This means you’ve $30,000 worth of ownership in your house. You get to another lender and take a $20,000 loan against this ownership. It is also called a subprime mortgage.

That is the reason why there is a lower interest rate on home equity loans. Usually, it is used for consolidating debt like credit card loans.

6. Home equity line of credit

HELOC isn’t different from HEL but with one exception it is a revolving debt. You can take it again and again while your existing balance goes down.

It is money you borrow against your ownership in a home-like home equity loan. And as you pay it down then you can again borrow it as you do with credit cards.

It is secured and that’s why it has a lower interest rate.

7. Credit card loan

Here you have a credit card from a specific lender like a normal debit ATM card. You use it for daily purchases and shopping. The bank pays for that purchase. And you need to pay it back with an interest rate.

Credit cards are a flexible way to pay off your needs but have higher interest rates. So before going for one, you should first compare lenders based on the interest rate and other terms.

They fall into different other categories like reward credit cards, cashback credit cards, and balance transfer credit cards.

Credit card loans are unsecured and have a higher interest rate. Which makes it difficult to pay back the loan.

8. Mortgage loan

Mortgage debt refers to the loan you take to buy a house and then repay it in installments. It has a non-revolving debt and you pay it including principal and interest over a longer period. Its terms can be 10 years, 20 years, or even 30 years longer.

Mortgage comes in big debt amounts and therefore you pay a huge interest depending on the period. The interest rates are lower because the house is placed as collateral.

9. Payday loan

Payday loans are short-term personal loans that you pay on the next pay date. This can be done by giving electronic access to banks to automatically take that amount or handing over a check so they can withdraw the loan amount.

Now you’ve learned the types of debt but what to do to get out of debt? So for that purpose, you need to get enough knowledge on the following topics:

10. How to pay off debt?

This includes different strategies and tactics to pay off debt faster and easier. Whether it is a credit card debt, mortgage, student loan, personal loan, or any other. In these tactics, you also need to be aware of debt repayment methods to pay debt faster. If you want to learn how to pay off debt faster here is the post.

11. Know interest, minimum payment, terms, fees, and total balance

If you’re going to take debt or have an existing one then knowing these terms is important. So here is a quick overview:

Interest is an amount you pay for using borrowed money. The percentage rate is called the interest rate.
Minimum payments are the least amount you’re required to pay each month to the lender. It starts from as little as $50 depending on the amount.
Total balance means the principal and interest you’re required to pay to the lender.
Fees include any loan origination fees or penalties for late payments.

Knowing all of this helps you have a record of how much debt expense you incurred. And how to pay it off.

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2. Credit score

A credit score represents your trustworthiness regarding your behavior for debt responsibility. Shows how responsibly you paid off your debt. It matters greatly in unsecured loans.

A credit score is important because lenders judge your creditworthiness and risk using the credit score. It is mentioned in your credit report which is a database of your current debt accounts, payment history, and credit score rating.

If your credit score is not good you need to face difficulty in obtaining credit cards and low-interest loans. Lenders ignore your requests to take loans.

Here is what you need to know regarding credit score:

What it is? What are the credit ranges and how is it calculated?
How to get a credit report and check your credit report for any mistakes?
How to increase your credit score?
Problems and drawbacks related to a bad credit score.

Getting hands-on with all of the above information is a surefire way to educate yourself regarding credit reports and credit scores. This will help you stay higher in credit ranges like the FICO score and Vantage score.

Like earning money, saving is also important. That’s why it is an unavoidable area of personal finance. You may need money in an emergency, for vacation, or any other expense so instead of just relying on debt savings can help you.

So you need to learn how to cut out different expenses to save more money. These tactics include how to save money on food, groceries, utility bills, gas, electricity, and college. You also get to know different money-saving challenges, charts, and apps that make your job easier.

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4. Retirement

All of us need to retire one day. But after retirement, our monetary needs are attached to us the same way as before. This makes retirement the most important chapter of personal finance.

In this personal finance topic, you learn how to save and invest money to comfortably retire. Here you get to know different plans and procedures to invest money and how to meet your required goal as fast as possible.

Here are different retirement plans you should know about:

401K plans are given by the employer to employees and contribute a matching amount which provides a free money benefit to employees.

Here a portion of the employee income before tax is deducted from a paycheck and deposited into your retirement account. It is not available to everyone but is available to some nonprofit organizations, public service organizations, self-employed ministers, and cooperative hospital services in the United States.

3. Traditional IRA

In the plan, you can invest money from pre-tax income into your IRA retirement account and the investment grows tax-deferred until you withdraw it. Tax-deferred means you don’t pay the tax until you take out gains.

4. Roth IRA

In a Roth IRA plan, you invest money after-tax deduction and when you withdraw that money then you don’t need to pay tax on it. But you need to fulfill certain conditions.

5. Solo 401K

If you’re a business owner with no employees then you can contribute to a retirement plan called Solo 401K. But you can combine your spouse as well for this benefit.

6. Spousal IRA

It is a retirement account that allows a working spouse to contribute to an IRA account as a nonworking spouse. Simply put the working spouse contributes to a nonworking spouse’s retirement account.

7. Rollover IRA

It is a retirement plan which allows you to move funds from your 401k account into your IRA account. There are no penalties or tax deductions for doing this.

It allows an employer to contribute money to retirement accounts for himself and his employees. All sizes of businesses can use this opportunity. Allows the contribution of up to 25% of the income and has no initial or operating cost.

The other types of retirement accounts and plans you should study include:

Traditional pensions
The Federal Thrift Savings Plan
Cash Balance plans
Cash-value life insurance plans
Nonqualified deferred compensations plan (NQDC)

Knowing information about these plans and procedures is a surefire way to increase your knowledge about retirement investments. It also allows you to choose the best option for yourself.

5. Investment

Investment means using your money in such a way that it increases. This means it generates a return over time and boosts your wealth.

So if you want to earn a passive income and build wealth then investment is the only option. That’s why you need to have deep knowledge regarding investment topics. The most common ones include:

1. Asset allocation

It means how to allocate or distribute your money among different types of assets. It is also called a portfolio. Simply you invest in different assets or the same assets of different companies to lower your risk.

For how much time you’re going to invest? There are two types. One is called short-term investments that are less than a year and the second is long-term up to 5 years 10 years or 20 years even perpetual.

It is also called return on investment or ROI. It means how much dollars you earn on your investment. Return can be negative or positive. But a solid way to determine when you’ll achieve your end goal.

4. Risk management

Here you’ll learn how to minimize your risk. Mitigation of risk is an important element of a successful investment strategy and earning positive returns. You must get a deep understanding and learn the techniques regarding risk management.

5. Financial assets

Then comes financial assets where you need to learn about different types of financial assets. This includes stocks, bonds, CDs, T-bills, investment accounts, and derivatives. This helps you better decide on which ones to choose for investment.

6. Investment opportunities

Finding profitable options to put your money into work is a great way to build your wealth. Opportunities range from real estate, the construction industry, health companies, the stock market, the bonds market, commodities markets, mutual funds, etc. But you need to get enough understanding to find the best ones that fit your goal.

So if you put strong hands on these topics you can easily achieve your end goal. And earn better and bigger returns.

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Banking is another major one among personal finance topics. The reason is we all need to interact with banks and accounts. They provide us with different financial services and also protect our money.

So let’s uncover the subtopics under banking you should learn about:

1. Current account

This account has a higher number of allowed transactions as compared with others. Its facility is normally given to business owners with large transactions. They can withdraw money at any time without notice. In Islamic countries, the current account is referred to as an interest-free account.

2. Checking account

These accounts help you deposit and withdraw money. They are normal accounts you use for depositing salary, wage, or any other income source. You can withdraw money through ATMs, checks, and electronic debits. It is also called a demand account or transactional account.

3. Savings account

This account is a normal interest-generating account in which you deposit cash for daily use. It earns a lower interest rate as compared with high-yield savings accounts. The features are also limited like the number of transactions, debit card facility, cheque, and overdrawn.

4. Regular savings accounts

Here you make a fixed deposit each month to this account and the bank gives you a higher return on that amount. The yield is higher as compared with ordinary savings accounts.

5. Certificate of deposit account

In this account, you make a fixed deposit of a lump sum amount for a specific period. During that, you don’t withdraw your money. The financial institution gives you a higher return as compared with the money market and savings accounts. Certificates of deposits are a safe investment strategy to earn more return.

6. Cash management account

This account provides combined features and functions of other accounts like checking, saving, and investment accounts. You get a combined overview of cash in one place and don’t need to make separate bank accounts for each function.

7. High-yield savings account

As the name suggests, it is a high-interest paying savings account. A High Yield Savings account pays 10 to 25 times more interest than a normal savings account. And it is a safe way to generate higher returns.

8. Money market account

These accounts work similarly to savings accounts but with some checking account features. You get to check and debit card options for withdrawal. However, there is a limitation on withdrawals and purchases.

9. Specialty savings account

Designed for specific persons or events not for meeting your bigger financial goals. The most common types include:

Christmas Club savings account
529 college savings account
HSAs or health savings accounts
Home down the payment savings account
Student savings account
Children’s savings account
Custodial savings account

Other than these banking personal finance topics you can study different banking procedures and policies regarding loans and accounts. So that you don’t face any trouble in the future and make better decisions.

7. Budgeting

Budgeting is another financial topic you should understand and implement. It helps you analyze how much you’re earning and where it is going. You get a clear picture of your expenses and easily cut down on extra ones.

Here are some budgeting topics you can learn about:

1. Traditional budget

A very common type of budgeting the majority of people use. You list down your income sources and sum them up, then you list down your expenses and sum up, and find the difference between income and expenses.

You get a clear view of income and spending by finding the difference. If the “income minus spending” is positive this means you’ve money left for savings. Otherwise, you either need to cut back expenses or earn more money.

2. Zero-based budget

In this budget, your income minus expenses goes to zero. Here you assign every dollar of your income a certain job to do. It can be savings, investing, insurance, or achieving seasonal goals. So you need to start each new month’s budget from zero.

3. 50/30/20 rule

It is a simple rule that makes budgeting easier. You divide your after-tax income into three categories. One is called need which is most important, then want, and then saving or paying off debt.

According to this rule, you spend 50% of your after-tax income on needs, 30% on wants, and 20% on savings or to pay the debt.

4. 70/20/10 rule

This rule is similar to the above but with one exception which is a percentage of allocation. Here you spend 70% on needs plus wants, 20% on saving, and 10% on charity and/or paying off debt.

5. Cash-only budget

It is a budgeting method where you spend with cash on all expenses. No credit card or debit card.

6. Spending first budgeting

In this budgeting method, you prioritize your expenses over savings. Simply you first spend your disposable income on expenses then what is left goes to savings or investing. This budgeting method is good if expenses are less than income.

7. Envelope method

Using this method you keep an envelope for each expense and put cash in it. When the cash in that envelope wipes out in spending then you’re done. You don’t spend further on that particular expense. You can simply stick these envelopes on a wall and write the names of each important expense on it. Then start spending on each expense according to need.

The money needed to cover the expense can be determined by taking the last 3 months’ average of each expense. This gives you an idea of the actual amount you need to cover it.

8. Saving the First budget

This method is also called as pay-yourself-first method. You prioritize savings over expenses. The money first goes into a savings account. What is left? Is spent on paying off debt, and other important household and personal expenses.

9. Other budgeting methods

The no budget
Anti budget
Spending ceiling

10. Budgeting apps and software

After budgeting methods come the tools and software for budgeting which make your job a lot easier. They help you track and analyze your finances from a 30,000-foot view.

You can get your hands on them. Here is a list of some easy tools:

You Need A Budget (YNAB)
Every dollar
Personal capital

All of these tools are amazing and you can easily learn them through YouTube video tutorials. They make a lot of your work on automation and save time.

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If you earn money you are liable to pay tax. And it’s our responsibility to pay taxes. But tax is an important part of personal finance. Because you pay a major portion of your income into taxes.

You don’t need to be a tax professional who knows every bit of information and code. But at least you should know how much tax expense you pay this year. Along with that how to save money using different loopholes and benefits.

Whether you need to file federal tax or state tax. And how many deductions you can get.

If you have limited time then you can hire a tax professional to do this for you. But knowing yourself can save you hundreds of dollars.

There are different tax software like TurboTax, Quickbooks, Taxact, Taxpayer, etc. They make your job a lot easier.

9. Insurance

It is compulsory to protect your assets from unwanted risk.

Many types of risks and threats can damage your assets. For example, fire, theft, accident, illness, and any other. Which can ruin your and your family’s financial life. So before any mishap occurs you should take protective steps.

So here comes the need for insurance.

There are different types of insurance which you need to choose according to your requirements. Here are some common types of insurance:

Life Insurance
Car Insurance
House Insurance
Health Insurance
Travel Insurance
Mobile Insurance
Cycle Insurance
Bite-size Insurance

Other things to know are the insurance costs of different companies and policies. Paying attention to that can help you get more out of your insurance policy.

10. Net worth

It is an important factor that determines how much money you have. Networth is simply equal to total assets minus total liabilities. In other words, you subtract debt from your assets, and the remaining value is called your net worth.

Determining your net worth helps you know your financial position. This will help you make better financial choices and know the exact goals you want to achieve.

Also, learn the strategies and tactics to increase it over time. So that you build wealth and get financial freedom.

11. Homeownership

Home is the biggest investment for Americans. And the government is continuously working to provide homes to middle and lower-class families. That’s why important in all personal finance topics.

It is not just buying a house but more than that. It involves several steps and procedures to help you buy a home.

Here is what you should know under the homeownership area:

Checking your affordability
Finding the perfect home
Home Registration and transfer
Applying for a loan to purchase it
Seeing bargains to benefit more
Preparing for downpayment
Determining maintenance costs
Calculating the taxes

And a lot more which you can learn from Google.

Finding Excellent Topics in Finance

We offer you 30 researchable topics in finance. But why should we only catch fish for you if we can teach you how to fish too? The need to find unique topics in finance is on the increase. Here are some excellent tips that will help you choose appropriate finance topics:

Find out unanswered questions from previous research works or develop on areas that require additional study.
Read several theses to form ideas.
Check economics topics . They may be more general but you can narrow down some of them.
Search online for related topics that are unique, or make them unique to suit your purpose.
Discuss your chosen topic with other students or people who have experience writing dissertations asking for their input.

Research Topics In Finance

In financial research, unique topics are pivotal to the overall success of the study. The reason for this is simple. Now put yourself in the shoes of professors who have read hundreds of theses and essays. They already know common topics that students like to write or work on. A hot research topic in finance will surely catch the attention of your professor and will likely earn you better grades. Writing finance research papers becomes much easier when you have superb finance research topics.

Here is a finance research topics list that will spark people’s interest in your research work and make your finance research paper worth reading! Ready for these research topics in finance? Read on!

Merger and Acquisition: An Analytical Study of the Benefits and Set-backs.
Capital Asset Pricing Model: Possible Solutions to its Inadequacies.
Global Financial Crisis: A Critical Study of the Role of Auditors and Stakeholders.
The Impact of Manipulating the Commodity Market on Future Commerce.
Continuous-time Models: An exhaustive Comparative Analysis of its Application in Divers financial Environments.
How Speculations Undermine the Stability of Banking in Asian Markets.
Branding: Its Effect on Consumer Behavior.
An effective strategy for managing inventory and controlling your budget.
An analytical report on the various investments in tax-saving products.
Using a systematic investment strategy to build stability for retail investments.
How income tax is planned and implemented in India’s economy.
A detailed analysis of how the Indian banking system operates.
How does multi-level marketing work in different economies around the world?
A detailed report on electronic payment and how it can be improved.
A case study regarding senior citizen investment portfolios.
Are there potential risks and rewards when comparing savings to investments?
Is ratio analysis an effective component of financial statement analysis?
How the Indian economy functions with its current banking operations.

Finance Research Topics For MBA

Here are some great finance research topics you can use toward your MBA. It’s sure to intrigue your professor and get you to look at finance from a different perspective.

Investment analysis of a company of your choice.
A detailed report on working capital management.
Financial plans and considerations for saving taxes and salaried employees.
A detailed analysis of the cost and costing models of the company of your choice.
The awareness of investments in financial assets and equity trading preference with financial intermediaries.
The perspective of investors and their involvement with life insurance investments.
A detailed analysis of the perception of mutual fund investors.
The comparative study between UIL and the traditional products.
A detailed report on how the ABC company manages cash.

Corporate Risk Management Topics

These are some key topics you can use relating to corporate risk management.

A detailed report on the fundamentals of corporate risk management.
The analytical concepts relating to effective corporate and financial management within a company.
How does corporate risk management affect the financial market and its products?
What are risk models and how are they evaluated?
How is market risk effectively measured and managed in today’s economy?
How can a company be vigilant of potential credit risks they can face?
What are the differences between operational and integrated risks in the corporate world?
Is liquidity an effective strategy to lower financial risk to a company?
How risk management can connect with and benefit investment management.
The current issues that are affecting the modern marketplace and the financial risks they bring.

Healthcare Finance Research Topics

These are some key topics you can use relating to healthcare finance research.

Is it better for the government to pay for an individual’s healthcare?
The origins of healthcare finance.
An analysis of Canada and their healthcare finance system.
Is healthcare financing a right or a privilege?
The changing policies of healthcare in the U.S.
Can healthcare be improved in first-world countries?
Can the healthcare system be improved or remade?
How much influence does the government have on healthcare in a country?
The impact of growing global health spending.
Is free healthcare achievable worldwide?

Corporate Finance Topics

Corporate finance deals with processes such as financing, structuring of capital, and making investment decisions. It seeks to maximize shareholder value by implementing diverse strategies in long and short-term financial planning.

Corporate finance research topics broadly cover areas like tools for risk management, trend research in advanced finance, physical and electronic techniques in securities markets, research trends in advance finance, investment analysis, and management of government debt. The following corporate finance topics will surely minimize any risk of mistakes!

Using the Bootstrapped Interest Rates to Price Corporate Debt Capital Market Instruments.
Corporate Organizations: The Impact of Audit Independence on Accountability and Transparency.
Buybacks: A Critical Analysis of how Firms can Buy Back at Optimal Prices.
Merge and Acquisitions: Reasons why Firms still Overpay for bad Acquisitions.
Corporate Finance: Ethical Concerns and Possible Solutions.
Understanding the investment patterns relative to smaller and medium-capitalization businesses.
A detailed analysis of the different streams of investment relating to mutual funds.
Equity investors and how they manage their portfolios and perception of potential risks.
How does investor preference operate in the commodity market in Karvy Stock Broking Limited?
An analysis of the performance of mutual funds in the public and private sectors.
Understanding how Videcon manages its working capital.
The Visa Port trust and how it conducts ratio analysis.
How the gold monetization scheme has affected the Indian economy and banking operations.
How does SWIFT work and what are the potential risks and rewards?
A detailed analysis of the FMC and SEBI merger.

Business Finance Topics

Every decision made in a business has financial implications. It is, therefore, essential that business people have a fundamental understanding of finance. To show your knowledge, you must be able to write articles on finance topics in areas such as financial analysis, valuation, management, etc. Here are some juicy business finance topics!

Application of Business Finance: Its importance to the Business Sector.
The Importance of Business Finance in the Establishment of Business Enterprises.
Modernization of Business: Roles of Business Finance in Business Modernization.
A detailed study on providing financial aid to self-help groups and projects.
Is tax an effective incentive for selling life insurance to the public?
Understanding how the performance of mutual funds can change within the private and public sectors.
Is there a preference for different investment options from financial classes?
A detailed analysis of retail investors and their preferences and choices.
A study on investors and their perspective on investing in private insurance companies.
How analyzing financial statements can assess a business’s performance.
Increasing the accountability of corporate entities.
Ethical concerns connected to business finance and how they can be managed.
The level of tax paid by small to medium businesses.

International Finance Topics

As the world is now a global village, business transactions occur all around the world. No more are we limited to local trade, and this is why the study of international is essential and relevant. Here are some international finance topics that will suit your research purpose!

Stock Exchange: How Important are the Functions of a Bank Office?
Global Economic Crises: Possible Precautions to prevent Global Financial crisis.
Bond Rating: the Effect of Changes on the Price of Stocks.
How the Banking Industry can Decrease the Impact of Financial Crisis.
Is it possible for a country to budget funds for healthcare for the homeless?
The negative impact of private healthcare payments on impoverished communities.
What sectors in healthcare require more funding at the moment?
The dilemma of unequal access to adequate healthcare in third world countries.
Can cancer treatment be more inexpensive to the public?
The problem with the high pricing of medication in the U.S.
Is there a better way to establish healthcare financing in the U.S?
What are the benefits of healthcare finance systems in Canada and the UK?
How can third-world countries improve their healthcare systems without hurting their economy?
Is financing research a priority in healthcare and medicine?
Does free healthcare hurt the tax system of a country?
Why is free and privatized healthcare present in different economies?
How does government funding affect healthcare finance systems?
How do patient management systems work?
Where does affordable healthcare financing fit in growing economies?
The economic impact of COVID-19 in various countries.
The healthcare policies of the Serbian government.

Finance Research Paper Ideas

Writing a research paper requires an independent investigation of a chosen subject and the analysis of the remarkable outcomes of that research. A finance researcher will, therefore, need to have enough finance research paper topics from which to choose at his fingertip. Carefully selecting a finance thesis topic out of the many finance research papers topics will require some skill. Here are some exciting finance paper topics!

Behavioral Finance versus Traditional Finance: Differences and Similarities.
Budgetary Controls: The Impact of this Control on Organizational performance.
Electronic Banking: The Effect of e-Banking on Consumer Satisfaction.
Credit and Bad Debts: Novel Techniques of management in commercial Banks.
Loan Default: A Critical Assessment of the Impact of Loan Defaults on the Profitability of Banks.
A detailed analysis of the best risk management methods used in the manufacturing industry.
Identifying and measuring financial risks in a derivative marketplace.
Exploring the potential risks that can occur in the banking sector and how they can be avoided.
The risks that online transactions bring.
What are the methods used to ensure quantitive risk management is achieved?
A better understanding of policy evaluation and asset management.
What makes traditional finance so different from behavioral?
The significance of budgetary control in a corporate organization.
How do loans benefit the profitability of banks?
How do commercial banks assist their clients that are in bad debt?
The various considerations we need to be aware of before making investment decisions.

Personal Finance Topics

Personal finance covers the aspects of managing your money, including saving and investing. It comprises aspects such as investments, retirement planning, budgeting, estate planning, mortgages, banking, tax, and insurance. Researching in this area will surely be of direct impact on the quality of living. Here are some great personal finance topics that are eager to have you work on them!

Evaluation of Possible Methods of Saving while on a Budget.
The Effect of Increase in Interest Rate and Inflation on Personal Finance.
Benefits of Working from Home to both Employers and Employees.
Will dental services be considered an essential medical service soon?
Is affordable or free healthcare a right that everyone should be entitled to?
The best ways to save money while on a tight budget.
What happens to personal finance when inflation and interest rates rise?
The financial benefits of working from home.
Does innovations in personal finance act as an incentive for households to take risks?
A detailed analysis of credit scores.
The importance of credit and vehicle loans.
A detailed analysis of employee benefits and what should be considered.
The effect of tax on making certain financial decisions.
The best ways to manage your credit.
The difficulties that come with mobile banking.

Finance Topics For Presentation

Sometimes, you may need to present a topic in a seminar. The idea is that you can whet the appetite of your audience with the highlights of your subject matter. Choosing these finance seminar topics requires a slightly different approach in that you must be thoroughly familiar with that topic before giving the presentation. Interesting and easy-to-grasp finance topics are, therefore, necessary for presentations. Here are some topic examples that fit perfectly into this category.

Analysis of the Year-over-Year Trend.
Maximizing Pension Using Life Insurance.
The Architecture of the Global Financial System.
Non-communicable diseases and the burden they have on economies.
Is there a connection between a country’s population and its healthcare budget?
The spending capability of medical innovations in a third-world economy.
The long-term effects of healthcare finance systems in the U.S.
A detailed analysis of pharmaceutical marketing in eastern Europe.
Understanding the reduction in medical expenses in Greece.
Private payment for healthcare in Bulgaria.
A complete change in healthcare policy worldwide. Is it necessary?
The significance of electronic banking on the public.
The evolution of banking and its operations.

So here we are! Surely, with this essay on finance topics that you have read, you’ll need only a few minutes to decide your topic and plunge into proper research! If you need professional help, don’t hesitate to contact our economics thesis writers .

The great wealth transfer has started — but millennials, Gen Z may not inherit as much as they anticipate

There’s a massive wealth transfer underway.

“It has started and it’s only going to accelerate,” said Liz Koehler, head of advisor engagement for BlackRock’s wealth advisory business.

Baby boomers are set to pass more than $68 trillion on to their children . And yet, some millennials and Generation Z may not be inheriting as much as they think.

Recent reports show a growing disconnect between how much the next generation expects to receive in the “great wealth transfer” and how much their aging parents plan on leaving them.

To that point, 68%, of millennials and Gen Zers have received or expect to receive an inheritance of nearly $320,000, on average, USA Today Blueprint found. Additionally, 52% of millennials think they’ll get even more — at least $350,000 — according to a separate survey by Alliant Credit Union.

However, 55% of baby boomers who plan to leave behind an inheritance said they will pass on less than $250,000, Alliant found.

Further, just one-third of white families and about one in every 10 Black families receive any inheritance at all, and more than half of those inheritances will amount to less than $50,000, according to a separate study by Federal Reserve Bank of Boston.

Part of the discrepancy is because “parents are just not communicating well with their adult children about financial topics,” said Isabel Barrow, director of financial planning at Edelman Financial Engines.

Tack on inflation , high healthcare costs and longer life expectancies, and boomers suddenly may be feeling less secure about their financial standing — and less generous when it comes to giving money away.

Overall, fewer Americans are feeling financially confident these days, a report by Edelman Financial Engines found, and just 14% would consider themselves wealthy.

Millennials may be 'richest generation in history'

Still, over the next decade this intergenerational transfer could make millennials “the richest generation in history,” according to the annual Wealth Report by global real estate consultancy Knight Frank.

These funds come at a time when millennials and Gen Zers are having a harder time making it on their own.

In addition to soaring food and housing costs , today’s young adults face other financial challenges their parents did not at that age. Not only are their wages lower than their parents’ earnings when they were in their 20s and 30s, after adjusting for inflation, but they are also carrying larger student loan balances , recent reports show .

With so much at stake, “there is so much missing that needs to be discussed with our adult children when it comes to what happens with our money,” Barrow said.

Boomers need to map out a plan

At the same time, views of inherited wealth are changing , according to BlackRock’s Koehler. Parents want to feel confident that the next generation is going to have the same value system around building wealth.

“Firms and advisors who are doing this well are finding ways to open up the conversation so it is clear and transparent and setting common family values and expectations around philanthropic endeavors,” she said.

The failure to create such a strategy is a major issue, the Edelman report found: 90% of parents intend to leave an inheritance to their children but 48% do not have a specific plan in place.

That makes it even more important to map out how that money will be handed down as well as exactly how much will change hands, Barrow said, in addition to discussing it as a family.

“It’s not only what are you getting but how you are getting it — all of this needs to be part of a big-picture financial plan,” she said.

Gen Z, millennials concerned about their finances leading to homelessness, new study shows

Nearly a third of Gen Z and millennials worry that their finances could lead them to experience homelessness, according to a survey conducted by Acorns and Opinium Research.

Between Feb. 14 and Feb. 23, 5,000 U.S. consumers aged 18 and up completed the survey, called the Acorns Money Matters Report. Respondents included Gen Z, millennials, Gen X, boomers and the Silent Generation or people 78 and up.

Acorns has been conducting the survey since 2017. This year’s questionnaire found that 29% of Gen Z and 32% of millennials fear their financial situation could lead to experiencing homelessness. Gen Z and millennials were nearly three times more likely than boomers and older respondents to worry about this outcome, results of the survey showed.

“When you think about money holistically and the emotional side of money … that’s what ultimately feels like the lack of hope and confidence,” Noah Kerner, CEO of Acorns, told USA TODAY.

The company also found that 33% of millennials and 28% of Gen Z are unable to enjoy their lives because they obsess over money.

Acorns, the financial services company Kerner leads, tries to confront problems financially, educationally, and emotionally, he said. The brand, he said, is based on the idea of tiny acorns “growing into mighty oaks.”

“Giving people a sense that if you make these small changes in your life and if you stay committed in these small ways, you can change your life,” he said.

More finance news: The Fed just dashed hopes for lower mortgage rates. What homebuyers need to know.

Finances are stressing people out. What specifically worries them so much?

While conducting their survey, Acorns found that less than 10% of respondents don’t have any financial concerns. Of those who do, the cost of living and inflation stress them out more than debt, retirement, interest, mortgages and a lack of savings.

Americans from all incomes said after the cost of living, the financial stressors that impact them most are inflation and debt.

Of those surveyed, only 35% think they will be more financially secure next year than they are currently. Most people, or 44%, think their financial security will be the same next year.

Acorns also conducted a comparative survey among 1,965 Acorns customers surveyed from March 20 through March 26. According to the company, Acorns customers feel more financially secure compared to the larger group of respondents. Acorns reported that 34% of its customers feel more financially secure while 25% of the larger survey pool feel financially secure.

How does war impact financial security?

While surveying consumers, Acorns found that more than half of respondents are concerned global war and conflict could impact their financial security. Of respondents, 25% said they are “extremely concerned” about global war and conflict impacting their financial security.

More respondents expressed concern about the rising popularity of artificial intelligence and climate change as well.

According to Acorns, respondents with more education and a higher household income worry more about how current events can impact financial security.

The report found that 47% of those with a high school degree are concerned that global war will impact their financial security, while 51% of those with some college experience or an associate’s degree worry about it and 57% for those with a bachelor’s degree or higher education worry global war will impact their financial security.

People wish they’d learned more about finances as children

Acorns reported that 27% of those surveyed have never had an emergency fund.

About 23% of American adults surveyed received no financial literacy education as children, while 66% of people who didn’t receive financial literacy education think their financial security would be better off today if they’d been taught more about finances.

Among those surveyed, Gen Z and millennials are more likely to wish they’d received more financial literacy education as kids.

“This finding is especially interesting given that these younger generations also report higher rates of financial literacy education compared to the older generations polled,” Acorns said in a news release about the survey.

Just a quarter of people surveyed work with human financial advisors, while 7% use a Robo-advisor, Acorns reported.

The push to reduce financial anxiety

Kerner, CEO of Acorns, said anxiety is a huge part of financial stress, proven by studies outside of his own.

He referred to behavioral economist Shlomo Benartzi, who found that financial advice reduces anxiety by as much as an 82% pay raise.

“If I'm getting the things I need to make me feel more comfortable and confident, reducing anxiety, that can have the kind of impact that an 82% pay raise can have in terms of reducing anxiety,” he said. “This kind of statistic and information is what drives us to create Acorns in the way that Acorns exists.”

He said Acorns aims to confront the problem of financial stress and anxiety by relieving people of their burdens. He said Acorns has “set it and forget it” products that allow people to sign up, deposit money, set up their contributions, stress less and enjoy their lives more.

One of the company's products, the Mighty Oak Debit Card , allows customers to invest their spare change from purchases and save and invest part of each paycheck.

“One of the things we're really proud of with this product is that customers on average who are using it have saved $750 in emergency savings after a very short period, actually a few months,” he said.

Saleen Martin is a reporter on USA TODAY's NOW team. She is from Norfolk, Virginia – the 757. Follow her on Twitter at @SaleenMartin or email her at [email protected] .

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