Financial Literacy: An Exploratory Analysis in Portugal
This work aims to verify, through an exploratory factor analysis, which are the determinants of the financial literacy of the Portuguese over 18 years old. The quantitative method is used, by using a questionnaire survey, and 839 surveys were obtained. It is observed that the factors resulting from...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2022-08-01
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| Series: | Studies in Business and Economics |
| Subjects: | |
| Online Access: | https://doi.org/10.2478/sbe-2022-0037 |
| _version_ | 1811191967159156736 |
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| author | Tavares Fernando Oliveira Almeida Luís Gomes Soares Vasco Jorge Tavares Vasco Capela |
| author_facet | Tavares Fernando Oliveira Almeida Luís Gomes Soares Vasco Jorge Tavares Vasco Capela |
| author_sort | Tavares Fernando Oliveira |
| collection | DOAJ |
| description | This work aims to verify, through an exploratory factor analysis, which are the determinants of the financial literacy of the Portuguese over 18 years old. The quantitative method is used, by using a questionnaire survey, and 839 surveys were obtained. It is observed that the factors resulting from the exploratory factor analysis are: (1) planning and financial goals to 1-2 years, (2) long-term savings and (3) the taste for numerical calculation. We analyse the statistically significant differences between means regarding gender, school education, the existence of household budgets and age. It is concluded that it is important to obtain some financial training at the beginning and throughout life, to better be able to make the financial family planning, to make applications with better return and to reduce the financial risk of the family. It is concluded that the closer to the retirement age, the more people tend to save, since during retirement income usually decreases. |
| first_indexed | 2024-04-11T23:44:34Z |
| format | Article |
| id | doaj.art-a776d3b6249a4dac95275d7481ff2366 |
| institution | Directory Open Access Journal |
| issn | 2344-5416 |
| language | English |
| last_indexed | 2024-04-11T23:44:34Z |
| publishDate | 2022-08-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Studies in Business and Economics |
| spelling | doaj.art-a776d3b6249a4dac95275d7481ff23662022-12-22T03:56:41ZengSciendoStudies in Business and Economics2344-54162022-08-0117225226910.2478/sbe-2022-0037Financial Literacy: An Exploratory Analysis in PortugalTavares Fernando Oliveira0Almeida Luís Gomes1Soares Vasco Jorge2Tavares Vasco Capela3ISCET - Higher Institute of Business and TourismISCET - Higher Institute of Business and TourismISVOUGA - Higher Institute of Between Douro and VougaISEG-UL - Lisbon School of Economics & Management, University of LisbonThis work aims to verify, through an exploratory factor analysis, which are the determinants of the financial literacy of the Portuguese over 18 years old. The quantitative method is used, by using a questionnaire survey, and 839 surveys were obtained. It is observed that the factors resulting from the exploratory factor analysis are: (1) planning and financial goals to 1-2 years, (2) long-term savings and (3) the taste for numerical calculation. We analyse the statistically significant differences between means regarding gender, school education, the existence of household budgets and age. It is concluded that it is important to obtain some financial training at the beginning and throughout life, to better be able to make the financial family planning, to make applications with better return and to reduce the financial risk of the family. It is concluded that the closer to the retirement age, the more people tend to save, since during retirement income usually decreases.https://doi.org/10.2478/sbe-2022-0037financial literacyfinancial educationfinancial literacyfinancial decisionsfinancial well-being |
| spellingShingle | Tavares Fernando Oliveira Almeida Luís Gomes Soares Vasco Jorge Tavares Vasco Capela Financial Literacy: An Exploratory Analysis in Portugal Studies in Business and Economics financial literacy financial education financial literacy financial decisions financial well-being |
| title | Financial Literacy: An Exploratory Analysis in Portugal |
| title_full | Financial Literacy: An Exploratory Analysis in Portugal |
| title_fullStr | Financial Literacy: An Exploratory Analysis in Portugal |
| title_full_unstemmed | Financial Literacy: An Exploratory Analysis in Portugal |
| title_short | Financial Literacy: An Exploratory Analysis in Portugal |
| title_sort | financial literacy an exploratory analysis in portugal |
| topic | financial literacy financial education financial literacy financial decisions financial well-being |
| url | https://doi.org/10.2478/sbe-2022-0037 |
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