Level of financial literacy of academic youth from rural areas in the Visegrad Group countries

Abstract

The aim of the study is to determine the level of financial literacy of academic youth from rural areas in the V4 Group countries, as well as to compare the results obtained with the level of financial literacy of young people from cities. The source of data used for analysis and inference were primary information obtained from own research (PAPI method, 900 people). The research used a set of questions to assess the level of financial literacy of adults proposed by the OECD INFE. In addition to primary sources, secondary sources were also used to achieve the goal. The measures of descriptive statistics and one-way analysis of variance (F) were used. The level of financial literacy was determined at the medium level, which may indicate the low effectiveness of financial education measures implemented at different levels of education. The component of financial literacy where students from rural areas had the lowest scores was basic financial knowledge. Only 43% of people from rural areas achieved the minimum target score.

The Impact of the Pandemic on the Level of Financial Literacy of Technical University Newcomers

“…Similarly, a study by (Chen & Volpe, 1998) also confirmed lower levels of financial literacy in lower-class rank college students. The level of financial literacy of young people in the V4 countries is the focus of the work (Szafrańska, 2019). In particular, this study showed a difference between the level of financial literacy in large cities and rural settlements.…”