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Financial Literacy Perception Scale for the Portuguese Population

Author

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  • Fernando Oliveira Tavares
  • Eulália Santos

Abstract

This study aims to propose and validate a financial literacy perception scale for the Portuguese population. The utilized methodology was quantitative, based on a two-part questionnaire survey. The first part studies the sociodemographic profile and the second part evaluates the respondent's perception of financial literacy. The sample consisted of 830 Portuguese individuals, over 18 years old. The main results of this study demonstrate that the financial literacy perception scale presents a tri-factorial structure with satisfactory validity and reliability levels. The three obtained factors are 1-2 years financial planning and goals, long term savings and an affinity for numerical calculation. This study contributes to the increase of scientific knowledge in the field of financial literacy, to the assistance of financial education policymakers in the reformulation of their policies and to the creation of tools to help consumer financial behavior. JEL Codes - G02; G11; G20

Suggested Citation

  • Fernando Oliveira Tavares & Eulália Santos, 2020. "Financial Literacy Perception Scale for the Portuguese Population," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 67(2), pages 277-290, June.
    • Handle: RePEc:aic:saebjn:v:67:y:2020:i:2:p:277-290:n:15
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    File URL: http://saeb.feaa.uaic.ro/index.php/saeb/article/view/1167
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    financial literacy; financial education; financial learning; financial decisions; financial welfare;
    All these keywords.

    JEL classification:

    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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