Figure 7
The model shows nine latent variables, each represented by rectangles labeled: “Financial literacy,” “Gender,” “Age,” “Education,” “Marital status,” “Exploer trait,” “Work experience,” “Fintech usage,” and “Income levels.” The first seven variables are placed vertically on the left. The eighth variable is on the right. The ninth variable is on the bottom right. Two error terms are represented by circles labeled “e 1” and “e 2.” Numbers are placed at the top right of each rectangle. “Financial literacy” is marked with “11.03,” “Gender” with “0.24,” “Age” with “0.98,” “Education” with “0.17,” “Marital status” with “0.24,” “Exploer trait” with “1.05,” and “Work experience” with “1.09.” An arrow labeled “0.07” points from “Financial literacy” to “Fintech usage.” An arrow labeled “0.07” points from “Financial literacy” to “Income levels.” An arrow labeled “0.07” points from “Gender” to “Fintech usage.” An arrow labeled “0.00” points from “Gender” to “Income levels.” An arrow labeled “negative 0.01” points from “Age” to “Fintech usage.” An arrow labeled “0.05” points from “Age” to “Income levels.” An arrow labeled “negative 0.11” points from “Education” to “Fintech usage.” An arrow labeled “negative 0.15” points from “Education” to “Income levels.” An arrow labeled “negative 0.25” points from “Marital status” to “Fintech usage.” An arrow labeled “0.24” points from “Exploer trait” to “Fintech usage.” An arrow labeled “0.05” points from “Exploer trait” to “Income levels.” An arrow labeled “0.21” points from “Work experience” to “Fintech usage.” An arrow labeled “0.08” points from “Work experience” to “Income levels.” The circle labeled “e 1” points to “Fintech usage” with an arrow labeled “1,” and a number “1.95” placed on top. The circle labeled “e 2” points to “Income levels” with an arrow labeled “1,” and a number “0.59” placed on top. Curved bidirectional arrows connect the seven latent variables on the left. An arrow labeled “0.1” connects “Financial literacy” to “Gender.” An arrow labeled “0.39” connects “Financial literacy” to “Age.” An arrow labeled “0.36” connects “Financial literacy” to “Education.” An arrow labeled “0.02” connects “Financial literacy” to “Marital status.” An arrow labeled “0.29” connects “Financial literacy” to “Exploer trait.” An arrow labeled “0.13” connects “Financial literacy” to “Work experience.” An arrow labeled “0.00” connects “Gender” to “Age.” An arrow labeled “0.02” connects “Gender” to “Education.” An arrow labeled “0.02” connects “Gender” to “Marital status.” An arrow labeled “0.08” connects “Gender” to “Exploer trait.” An arrow labeled “0.07” connects “Gender” to “Work experience.” An arrow labeled “0.06” connects “Age” to “Education.” An arrow labeled “0.02” connects “Age” to “Marital status.” An arrow labeled “0.02” connects “Age” to “Exploer trait.” An arrow labeled “0.05” connects “Age” to “Work experience.” An arrow labeled “0.03” connects “Education” to “Marital status.” An arrow labeled “0.06” connects “Education” to “Exploer trait.” An arrow labeled “0.06” connects “Education” to “Work experience.” An arrow labeled “0.21” connects “Marital status” to “Exploer trait.” An arrow labeled “0.20” connects “Marital status” to “Work experience.” Finally, an arrow labeled “0.61” connects “Exploer trait” to “Work experience.”Structural equation model (SEM). Source: Authors’ own work