Household financial well-being is a complex, multifaceted concept determined by the interplay of socio-economic, behavioral, demographic and environmental circumstances. This qualitative literature review aims to systematically analyze the key drivers of Household financial well-being in Botswana and Zimbabwe. The analysis places special emphasis on how financial literacy, income stability, debt management, financial satisfaction and subjective well-being shape household financial outcomes. Notably, variables such as loan delinquency rates and macroeconomic volatility are identified as significant, yet insufficiently researched, components contributing to financial fragility within these nations. Drawing on evidence synthesized from 102 peer-reviewed articles published between 2000 and 2024, the central finding indicates that financial literacy is crucial. It serves to moderate financial conduct, alleviate financial pressure and promote greater financial satisfaction. The literature examined can be grouped into four main themes, including factors preceding financial satisfaction, the financial habits of youth, the relationship between financial knowledge and overall well-being, and the mental health implications of household financial well-being. Recognizing the existing conceptual inconsistency and the lack of research tailored to the African context, this review stresses the need for targeted policy actions. These include improvements in financial education, promotion of judicious credit usage and strengthening job security measures in Botswana and Zimbabwe. Ultimately, the limited regional research cooperation and low scholarly output from these two countries highlight an urgent requirement for locally focused studies and increased international collaboration to effectively shape policy and practical implementation.

Keywords: Botswana, Financial inclusion, Financial literacy, Household financial well-being, Loan delinquency, Zimbabwe.