Financial Literacy in the Nursing Profession: A Commentary

Abstract

Financial literacy is increasingly recognized as a core competency for nurses because it shapes how they manage personal finances, navigate complex healthcare systems, and participate in organizational decision-making. Financially literate nurses are better able to budget, save, invest, manage debt, and plan for retirement, which directly supports their well-being and reduces financial stress. At the same time, nurses' financial understanding influences workforce issues such as salary negotiation, turnover, and burnout, and indirectly affects patient safety and quality of care. International reports on financial literacy, along with emerging evidence from nursing and healthcare management research, indicate substantial gaps in nurses' financial knowledge and limited exposure to structured financial education during pre-registration and post-graduate training. This commentary synthesises current evidence on financial literacy and nursing, highlights key financial challenges across the nursing career trajectory, and identifies structural and educational barriers that prevent nurses from developing robust financial skills. It then proposes directions for curriculum development, continuing professional education, leadership training, and healthcare policy. Strengthening nurses' financial literacy is essential not only for individual prosperity but also for the sustainability, efficiency, and equity of healthcare systems.