“Exploring the Role of Gender in Financial Literacy, Inclusion, and Well-Being in Ecuador”

Financial literacy and financial inclusion have become essential drivers of financial well-being, particularly in developing economies where structural and digital barriers continue to limit equitable access to financial services. Understanding whether these relationships differ across gender groups is therefore important for designing more effective financial inclusion policies. This study examines the relationships between financial literacy, financial inclusion, and financial well-being in Ecuador through gender-disaggregated analyses, distinguishing between soft (digital access and usage) and hard (structural) dimensions of financial inclusion. Using structural equation modeling (SEM) on 349 survey respondents, the findings indicate that financial literacy significantly predicts both dimensions of financial inclusion as well as financial well-being. Gender-disaggregated analyses reveal distinct behavioral patterns. Among men, financial literacy primarily is associated with soft financial inclusion and financial well-being, whereas hard inclusion has no significant effect. Among women, all hypothesized relationships are significant, suggesting a more integrated framework linking financial education, digital access, and structural financial mechanisms. These results highlight gender differences in the relationships among financial literacy, financial inclusion, and financial well-being and underscore the importance of combining financial literacy initiatives with equitable access to both digital and structural financial services.