Financial Literacy and Workers´ Saving Behavior

Abstract

Saving is an important means that allows individuals to accumulate wealth in order to achieve their financial goals. The objective of this research is to identify how financial literacy levels and sociodemographic characteristics in a group of 134 workers from the state of Veracruz affect their behavior towards savings. The analysis was verified through linear regression that allows to examine the differences among categorical variables in the same population. The results show that the financial literacy level affects the population´s saving behavior. However, the www.videleaf.com sociodemographic characteristics considered were not significant, therefore they do not affect the behavior towards savings.