Financial behavior and risk management strategies among low-income households: A bibliometric analysis of research trends, intellectual structure, and future research directions

Kudra Wedye  Nyirenda; Patricia Paul  Buswage; Elias Ouko  Alexander

doi:10.51867/ajernet.7.4.41

Authors

Kudra Wedye Nyirenda Department of Human Resource Management, Institute of Social Work, P.O. Box 3375, Dar es Salaam https://orcid.org/0009-0003-3681-2801
Patricia Paul Buswage Department of Human Resource Management, Institute of Social Work, P.O. Box 3375, Dar es Salaam, Tanzania. https://orcid.org/0009-0006-5090-6339
Elias Ouko Alexander Department of Mathematics and Statistical Science, Botswana International University of Science and Technology, Private Bag 16 Palapye, Botswana. https://orcid.org/0009-0007-1006-9983

DOI:

https://doi.org/10.51867/ajernet.7.4.41

Keywords:

Bibliometric Analysis, Financial Behavior, Financial Resilience, Financial Inclusion, Household Risk Management, Low-Income Households

Abstract

Low-income households are persistently exposed to economic uncertainty due to unstable income sources, limited access to formal financial services, and vulnerability to adverse financial shocks. Consequently, understanding how economically constrained households manage financial resources and respond to risks has become an important research area spanning development economics, behavioral finance, household economics, and financial inclusion. Despite substantial growth in studies examining saving practices, borrowing decisions, financial literacy, informal insurance mechanisms, and household resilience, the intellectual structure and evolution of this interdisciplinary field remain fragmented. The study is theoretically anchored in the capability approach, permanent income and consumption-smoothing theory, behavioural economics, and the financial resilience and financial inclusion frameworks, which jointly informed the search strategy and guided the interpretation of the themes identified. This study provides a comprehensive bibliometric analysis of global research on financial behavior and risk management strategies among low-income households using publications indexed in the Scopus database. Bibliographic records published between 1994 and 2025 were analysed using performance analysis and science mapping techniques. The study applies citation analysis, productivity analysis, keyword co-occurrence analysis, collaboration network analysis, and thematic evolution analysis to identify influential contributions, dominant research themes, and emerging directions. The findings reveal a growing scholarly interest in household financial resilience, particularly after increasing global attention to financial vulnerability, economic shocks, and inclusive financial systems. The intellectual landscape is characterized by interconnected themes including financial inclusion, household risk management, consumption smoothing, informal insurance, microfinance, and financial literacy. The study identifies important knowledge gaps related to digital financial technologies, climate-related financial risks, behavioral interventions, and financial resilience among vulnerable populations in developing economies. Overall, the field is best characterised as a maturing but still fragmented interdisciplinary domain, and the study recommends closer integration of the financial inclusion, literacy, and resilience sub-literatures, together with greater research and policy attention to climate-related financial risk, digital financial inclusion, and cross-cluster collaboration, to build a more cumulative and policy-relevant evidence base. By mapping the historical development and emerging trajectories of this research domain, this study provides valuable insights for scholars, policymakers, and development practitioners seeking to strengthen financial resilience among low-income households.

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