{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,9,1]],"date-time":"2026-09-01T18:13:49Z","timestamp":1788286429903,"version":"build-2803163510"},"reference-count":43,"publisher":"Public Library of Science (PLoS)","issue":"9","license":[{"start":{"date-parts":[[2026,9,1]],"date-time":"2026-09-01T00:00:00Z","timestamp":1788220800000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"DOI":"10.13039\/501100012456","name":"National Social Science Fund of China","doi-asserted-by":"publisher","award":["25BJY197"],"award-info":[{"award-number":["25BJY197"]}],"id":[{"id":"10.13039\/501100012456","id-type":"DOI","asserted-by":"publisher"}]}],"content-domain":{"domain":["www.plosone.org"],"crossmark-restriction":false},"short-container-title":["PLoS One"],"abstract":"<jats:p>Using data from the China Household Finance Survey, this study examines how digital financial literacy relates to household consumption. Digital financial literacy is positively associated with total consumption expenditure, especially among low-income households. Borrowing is the main pathway linking digital financial literacy to consumption, while investment and insurance play smaller roles. In contrast, the evidence for a systematic shift in the full consumption structure is not robust. The study suggests that digital financial literacy programmes can serve as an effective demand-side tool for household consumption, especially for low-income groups, but achieving structural changes in consumption likely requires complementary policies in education, health, and culture. Facilitating responsible digital credit access and building trust in digital insurance products are important for the link between digital financial literacy and higher household consumption.<\/jats:p>","DOI":"10.1371\/journal.pone.0357484","type":"journal-article","created":{"date-parts":[[2026,9,1]],"date-time":"2026-09-01T17:24:39Z","timestamp":1788283479000},"page":"e0357484","update-policy":"https:\/\/doi.org\/10.1371\/journal.pone.corrections_policy","source":"Crossref","is-referenced-by-count":0,"title":["Digital financial literacy and household consumption: Total expenditure versus consumption structure in China"],"prefix":"10.1371","volume":"21","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-9495-4803","authenticated-orcid":true,"given":"Yan","family":"Shen","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Wenxiu","family":"Hu","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Xin","family":"Wang","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"340","published-online":{"date-parts":[[2026,9,1]]},"reference":[{"key":"pone.0357484.ref001","doi-asserted-by":"crossref","DOI":"10.54394\/IZLN1673","volume-title":"World employment and social outlook: May 2025 update","author":"International Labour Organization","year":"2025"},{"issue":"2","key":"pone.0357484.ref002","doi-asserted-by":"crossref","first-page":"305","DOI":"10.1086\/261605","article-title":"Consumption and liquidity constraints: an empirical investigation","volume":"97","author":"SP Zeldes","year":"1989","journal-title":"J Polit Econ"},{"issue":"1","key":"pone.0357484.ref003","doi-asserted-by":"crossref","first-page":"207","DOI":"10.1016\/S0304-3932(97)00042-1","article-title":"Consumption and credit constraints: International evidence","volume":"40","author":"P Bacchetta","year":"1997","journal-title":"J Monet Econ"},{"issue":"4","key":"pone.0357484.ref004","doi-asserted-by":"crossref","first-page":"1553","DOI":"10.1111\/j.1540-6261.2006.00883.x","article-title":"Household Finance","volume":"61","author":"JY Campbell","year":"2006","journal-title":"The Journal of Finance"},{"issue":"6","key":"pone.0357484.ref005","doi-asserted-by":"crossref","first-page":"3175","DOI":"10.1111\/jofi.12968","article-title":"Stock Market Returns and Consumption","volume":"75","author":"M Di Maggio","year":"2020","journal-title":"The Journal of Finance"},{"issue":"2","key":"pone.0357484.ref006","doi-asserted-by":"crossref","first-page":"331","DOI":"10.1016\/j.jfineco.2010.01.001","article-title":"Limited participation and consumption-saving puzzles: A simple explanation and the role of insurance","volume":"96","author":"T Gormley","year":"2010","journal-title":"J Financ Econ"},{"key":"pone.0357484.ref007","doi-asserted-by":"crossref","DOI":"10.3386\/w17930","author":"L Klapper","year":"2012","journal-title":"Financial literacy and the financial crisis. 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