<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>This work aims to verify, through an exploratory factor analysis, which are the determinants of the financial literacy of the Portuguese over 18 years old. The quantitative method is used, by using a questionnaire survey, and 839 surveys were obtained. It is observed that the factors resulting from the exploratory factor analysis are: (1) planning and financial goals to 1-2 years, (2) long-term savings and (3) the taste for numerical calculation. We analyse the statistically significant differences between means regarding gender, school education, the existence of household budgets and age. It is concluded that it is important to obtain some financial training at the beginning and throughout life, to better be able to make the financial family planning, to make applications with better return and to reduce the financial risk of the family. It is concluded that the closer to the retirement age, the more people tend to save, since during retirement income usually decreases.</p>
</abstract>

This work aims to verify, through an exploratory factor analysis, which are the determinants of the financial literacy of the Portuguese over 18 years old. The quantitative method is used, by using a questionnaire survey, and 839 surveys were obtained. It is observed that the factors resulting from the exploratory factor analysis are: (1) planning and financial goals to 1-2 years, (2) long-term savings and (3) the taste for numerical calculation. We analyse the statistically significant differences between means regarding gender, school education, the existence of household budgets and age. It is concluded that it is important to obtain some financial training at the beginning and throughout life, to better be able to make the financial family planning, to make applications with better return and to reduce the financial risk of the family. It is concluded that the closer to the retirement age, the more people tend to save, since during retirement income usually decreases.

Financial Literacy: An Exploratory Analysis in Portugal

Studies in Business and Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Financial Literacy: An Exploratory Analysis in Portugal"}

This work aims to verify, through an exploratory factor analysis, which are the determinants of the financial literacy of the Portuguese over 18 years old. The...

Financial Literacy: An Exploratory Analysis in Portugal

Online veröffentlicht: 08. Okt. 2022

Seitenbereich: 252 - 269

DOI: https://doi.org/10.2478/sbe-2022-0037

Schlüsselwörter
Financial literacy, Financial education, Financial literacy, Financial decisions, Financial well-being

© 2022 Fernando Oliveira Tavares et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Financial Literacy: An Exploratory Analysis in Portugal

Online veröffentlicht: 08. Okt. 2022

Seitenbereich: 252 - 269

DOI: https://doi.org/10.2478/sbe-2022-0037

SchlüsselwörterFinancial literacy, Financial education, Financial literacy, Financial decisions, Financial well-being

© 2022 Fernando Oliveira Tavares et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Schlüsselwörter
Financial literacy, Financial education, Financial literacy, Financial decisions, Financial well-being