Analysis of financial literacy of the young generation
DOI:
https://doi.org/10.18778/0208-6018.326.13Keywords:
financial literacy, financial capability, financial educationAbstract
The aim of the article is to analyze financial literacy of the young generation. For the purpose of the article the following hypothesis is to be assumed: Young people have low financial knowledge and skills. They require financial education much more than other generations. These considerations are both theoretical and empirical with base in secondary research, as well as primary ones. The applied research methods rely on the operationalization of the conceptual issues related to financial knowledge and skills. Those are scarcely described in the Polish literature. Carried out literature studies are basis for the analysis of secondary and primary research, conducted on a group of 949 students from 10 faculties of the University of Szczecin. The research was conducted in the spring of 2015.
Downloads
References
Agarwal S., Driscoll J., Gabaix X., Laibson D. (2009), The age of reason: financial decisions over the lifecycle with implications for regulation, Brookings Papers on Economic Activity, nr 2, s. 51–117.
Google Scholar
Atkinson A., Messy F. (2012), Measuring financial literacy: results of the OECD . International Network on Financial Education (INFE) Pilot Study, OECD Publishing Working Paper, nr 15, DOI: http://dx.doi.org/10.1787/5k9csfs90fr4-en.
Google Scholar
Blackwell R., Miniard P., Engel J. Consumer behavior, Tenth Edition, Thomson, South-Western, Canada 2006.
Google Scholar
Borowski S. (1976), O naukowej syntezie demograficznego rozwoju Polski, „Studia Demograficzne”, nr 46, s. 3–25.
Google Scholar
CFPB (2013), Transforming the Financial Lives of a Generation of Young Americans: http://files.consumerfinance.gov/f/201304_cfpb_OFE-Policy-White-Paper-Final.pdf.
Google Scholar
Danke Bank (2009), Financial Literacy among 18–27 year old, Copenhagen.
Google Scholar
European Parlament (2015), Improving the financial literacy of European consumers: http://www.europarl.europa.eu/RegData/etudes/BRIE/2015/557020/EPRS_BRI%282015%29557020_EN.pdf.
Google Scholar
Holzer J. (2003), Demografia, Polskie Wydawnictwo Ekonomiczne, Warszawa.
Google Scholar
InfoDług (2016), 32. edycja ogólnopolskiego raportu o zaległym zadłużeniu i niesolidnych dłużnikach, BIG InfoMonitor, Warszawa, marzec.
Google Scholar
IOSCO (2014), Strategic Framework for Investor Education and Financial Literacy. Final Report, The Board of International Organization of Securities Commissions, FR 09/14, October.
Google Scholar
Lusardi A. (2015), Financial Literacy Skills for the 21st Century: Evidence from PISA, „The Journal of Consumer Affairs”, vol. 49, nr 3, s. 639–659.
Google Scholar
Lusardi A., Mitchell O.S. (2011), Financial literacy and retirement planning in the United States, „Journal of Pension Economics and Finance”, vol. 10, nr 4, s. 509–525.
Google Scholar
Lusardi A., Mitchell O.S., Curto V. (2010), Financial Literacy among the Young: Evidence and Implications for Consumer Policy, „Journal of Consumer Affairs”, vol. 44, nr 2, s. 358–380.
Google Scholar
Mandell L. (2008), The Financial Literacy of Young American Adults: Results of the 2008 National Jump$tart Coalition Survey of High School Seniors and College Students: http://www.jumpstart.org/assets/files/2008SurveyBook.pdf.
Google Scholar
Mavlutova I., Sarnovics A., Armbruster C. (2015), Financial literacy of young generation in changing European environment: evidence from Germany and Latvia, TIIM: http://www.toknowpress.net/ISBN/978-961-6914-13-0/papers/ML15-027.pdf.
Google Scholar
NBP (2015), Stan wiedzy i świadomości ekonomicznej Polaków, Warszawa, https://www.nbportal.pl/_data/assets/pdf_file/0006/54528/Diagnoza-stanu-wiedzy-i-swiadomosci-ekonomicznej-Polakow-2015.pdf.
Google Scholar
NFCS (2015), National Financial Capability Strategy. Raising Nationwide Financial Capabilities: A Review of Recommended Strategies White Pape, November.
Google Scholar
Potrich A.C.G., Vieira K.M., Kirch G. (2015), Detereminants of financial literacy: analysis of the influence of the socioeconomic and demographic variables, „Revista Contabilidade & Finanças”, vol. 26, nr 69, DOI: http://dx.doi.org/10.1590/1808-057x201501040.
Google Scholar
Scheresberg C.B. (2013), Financial literacy and financial behavior among young adults: evidence and implications, „Numeracy”, vol. 6, nr 2, DOI: http://dx.doi.org/10.5038/1936-4660.6.2.5
Google Scholar
Scheresberg de B., Lusardi C., Lusardi A. (2014), Gen Y Personal Finances. A Crisis of Confidence and Capability, Working Paper, Global Financial Literacy Excellence Center.
Google Scholar
Scheresberg de B., Lusardi C., Lusardi A., Yakoboski P. (2014), College Educated Millennials: An Overview of their Personal Finances, TIAA-CREF Institute.
Google Scholar
Shiller R.J. (2015), Finanse a dobrobyt społeczny, Polskie Towarzystwo Ekonomiczne, Warszawa.
Google Scholar