Home⇛Journal of Interdisciplinary Perspectives⇛vol. 4 no. 1 (2026)

A Systematic Literature Review: Present Bias versus Financial Literacy as Determinants of Savings Behavior Among Entrepreneurs

Efren James S. Aquino | Ruth R. Sealmoy | Oliver R. Mandap

Discipline: business studies

 

Abstract:

This systematic review synthesizes evidence from 20 peer-reviewed studies (2020–2025) to compare the influence of financial literacy and present bias on entrepreneurial savings behavior. The primary objective was to determine which factor—knowledge or behavioral bias—more strongly predicts savings outcomes among entrepreneurs. The methodology followed PRISMA 2020 guidelines, with searches conducted in Google Scholar, Scopus, and Web of Science using Boolean keywords; inclusion criteria required peerreviewed articles in English with a Journal Impact Factor ≥1.5, focused on entrepreneurs or entrepreneurial populations. Three key findings emerged: (1) financial literacy’s impact is conditional and often negligible without selfcontrol; (2) present bias consistently leads to impulsive spending and reduced savings; and (3) behavioral factors frequently override financial knowledge. The review concludes that integrated interventions combining financial education with behavioral design are essential to promote entrepreneurial savings effectively.



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