Financial Literacy: The Case of Poland

Świecka, Beata; Yeşildağ, Eser; Özen, Ercan; Grima, Simon

doi:10.20944/preprints201912.0305.v1

Cited by 11 publications

(11 citation statements)

References 2 publications

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“…Research on financial and debt literacy in Poland is underdeveloped. Studies on a sample of Polish citizens focuses on the level of debt literacy (Cwynar et al 2019) and financial literacy (Swiecka et al 2000). The Polish literature is less related to the behavior of the citizens.…”

Section: Introductionmentioning

confidence: 99%

Household’s Overindebtedness during the COVID-19 Crisis: The Role of Debt and Financial Literacy

Kurowski

2021

Risks

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The COVID-19 pandemic has shown how important it is to prepare one’s own financial budget for the unexpected loss of income. In this dimension, the financial education of the society plays an invaluable role. It allows us to account for events that may adversely affect personal finances in our budget management decisions. Therefore, the aim of the article is to check whether households with a higher level of financial and debt literacy have better management skills from the perspective of a household’s budget, which in the face of a crisis reduces the risk of individuals not paying their liabilities. Thus, at the turn of June and July 2020, we conducted surveys among 1300 Polish citizens. Using the multinomial logistic regression, we show that people with a higher financial and debt literacy are less affected by overindebtedness. During the crisis, people who have a higher debt literacy are better prepared to manage credit liabilities; in this situation, financial literacy is less important. In addition, the type of credit experience turned out to be significant. Respondents who have experience with consumer loans (potentially high-margin products) are more likely to have debt repayment problems than those with mortgage loans experiences.

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Section: Introductionmentioning

confidence: 99%

Household’s Overindebtedness during the COVID-19 Crisis: The Role of Debt and Financial Literacy

Kurowski

2021

Risks

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“…Also, Lusardi et al (2017) developed the P-Fin Index (Personal Finance Index). This index measures the knowledge and understanding that enable conscious financial decision-making and effective management of personal finances through 28 questions about common financial situations that individuals encounter and in this sense it can be seen as an indicator of “knowledge practical.” In this context and using the largest international survey of young people (15-year-old students) is the Program for International Student Assessment (PISA) of OECD, for example, Swiecka et al (2020) found in Poland a good and partially very good level of financial knowledge of the young people, 45.3% obtained an average level score and 43.8% achieved a high-level score in financial knowledge, showing that they can be rational in their financial decision-making.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Does formal and business education expand the levels of financial education?

Paraboni¹,

Soares²,

Potrich

et al. 2020

IJSE

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PurposeFinancial education has become an essential component of the economic balance for families, and much is being discussed about the methods, which raise the levels of financial education of the population. Thus, the overall objective of this study was to evaluate the effect of formal and business education on the level of financial education.Design/methodology/approachThis research is characterized as a quasi-experimental study, with undergraduate students. As a data collection technique, a structured questionnaire was used.FindingsThe results confirm the importance of formal and business education, as well as gender, for the financial education of individuals. More specifically, being male and having contact with a greater number of financial disciplines increase the level of financial education of the individual.Originality/valueThis article demonstrated that the trajectory of the knowledge traversed by individuals within the same level of schooling is of paramount importance. The results show that formal and business education can improve the levels of financial education and reinforce the relevance of strategic actions in this area.

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“…This support by Sharif, Ahadzadeh and Turner (2020) stated there is low awareness of financial management among working adults. Furthermore, the age of individuals deemed bankrupt is getting younger with more complex financial products and services on the market (Swiecka et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

Financial Planning Determinants Among Working Adults During Covid 19 Pandemic

Shaharuddin¹,

Zain²,

Ahmad³

2021

IJARAFMS

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Financial planning of working adults nowadays raised a great concerns as people should grow on par as the country expands economically, especially with the recent economic and social disruption caused by COVID-19 pandemic. Besides, financial planning has become a huge issue addressed by numerous researchers as there are many variables that could influence the individual's financial planning. The purpose of this research is to examine the factors influencing financial planning among working adults during the pandemic. Primary data was derived from a sample size of 260 targeted respondents who's at least 18 years old to 30 years old who works in a company based in Selangor, Malaysia. Purposive sampling applied as the sampling technique. Based on the findings, financial knowledge, financial attitude and financial behavior have a significant impact on financial planning and financial behavior is recognized as the most influential factor to the financial planning of working adults during the COVID-19 pandemic.

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Financial Literacy: The Case of Poland

Cited by 11 publications

References 2 publications

Household’s Overindebtedness during the COVID-19 Crisis: The Role of Debt and Financial Literacy

Household’s Overindebtedness during the COVID-19 Crisis: The Role of Debt and Financial Literacy

Does formal and business education expand the levels of financial education?

Financial Planning Determinants Among Working Adults During Covid 19 Pandemic

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