Evaluating Financial and Fiscal Knowledge for an Inclusive Society

Abstract

Financial education and fiscal awareness are considered two fundamental branches of knowledge in the training of citizens from the first stages of learning. Thus, it is necessary to teach them in order to know the different savings products that can be acquired in a bank, to understand the basic information related to savings and the means of payment, or to differentiate between investment and risk. This work seeks to analyze the factors that determine the degree of financial knowledge and also fiscal knowledge of the current population. As a case study, the authors have selected a small sample of young people between 9 and 19 years at middle schools in the region of A Coruna (Spain). Findings reveal the low level of both financial and fiscal knowledge of the youngest population.

Financial knowledge, attitude and investment practices among Indian doctors

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Financial knowledge is defined as the understanding of financial concepts and procedures as well as the use of this understanding to solve financial problems. 1 Having financial knowledge is a prerequisite for making sound financial decisions. 2 Going by the aforementioned logic, people should be able to make more effective borrowing decisions if they have a sound understanding of the functioning of financial markets.

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