Personal financial planning and the propensity of central bank digital currency adoption

El Kalak, Izidin ORCID: https://orcid.org/0000-0002-2992-4042, Nourallah, Mustafa and Timmerman, Inga 2025. Personal financial planning and the propensity of central bank digital currency adoption. International Journal of Bank Marketing 10.1108/ijbm-01-2025-0019

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Abstract

Purpose This study aims to investigate the personal financial planning factors influencing the adoption of central bank digital currencies (CBDCs). Design/methodology/approach The study collects primary data from two countries outside the Eurozone – Sweden and the UK – where central banks are actively working on CBDC projects. Our study applies self-control theory, highlighting financial planning as a crucial factor in individual financial decisions. Findings We find a strong and positive relationship between individuals’ propensity to plan for their finances (financial planning) and their intent to adopt CBDC, irrespective of the country. Moreover, we identify socioeconomic factors that can encourage (e.g. education) or hinder (e.g. age) the adoption of CBDC. Personality traits play a significant role in determining this adoption decision. Social implications This study highlights two key policy recommendations that are related to United Nation’s Sustainable Development Goals 3 and 5. The first focuses on information dissemination and gender equality, while the second addresses the design of CBDC. Originality/value The study went beyond the existing literature on CBDC adoption, which primarily focuses on the direct impact of trust and security and integrates socioeconomic factors with psychological elements to more comprehensively assess the traits that influence motivation or demotivation toward adopting CBDCs.

Item Type:	Article
Date Type:	Published Online
Status:	Published
Schools:	Schools > Business (Including Economics)
Additional Information:	License information from Publisher: LICENSE 1: URL: https://creativecommons.org/licences/by/4.0/, Start Date: 2025-08-12
Publisher:	Emerald
ISSN:	0265-2323
Date of First Compliant Deposit:	14 November 2025
Date of Acceptance:	19 June 2025
Last Modified:	14 Nov 2025 09:30
URI:	https://orca.cardiff.ac.uk/id/eprint/182408

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