Understanding Financial Planning Behavior: Insights from Theory of Planned Behavior for Financial Planning

This study examines how financial satisfaction, financial socialization, mental accounting, and financial cognition, mediated by financial literacy, impact intentions toward financial planning behavior using the Theory of Planned Behavior. The findings led to the development of the Theory of Financial Planning Behavior, which posits that these factors directly influence the intention to adopt financial planning behaviors, such as tax, cash flow, investment, risk, estate, and retirement planning. This framework offers valuable insights for academics, consumers, managers, and policymakers in understanding and shaping financial planning behavior.