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The Effect of Social Networks on Financial Literacy

Author

Listed:
  • Müge ÇETİNER
  • Ahmet Mete ÇİLİNGİRTÜRK

Abstract

Financial literacy demonstrates the ability to make use of rational choices with the use of financial instruments and decision-making systems that are frequently encountered in everyday life. The most important part of the rational consumer or investor assumption is that the information must be fully and evenly distributed. However, today’s researches focuse on non-rational behavioral finance models. Increasing financial literacy is important for sustainable household economic management. It is possible to increase the financial literacy with the internet-based social media and applications which affect every part of the society. According to the findings, social networks are a suitable tool for giving education on this subject. However, these results can be attributed to the financial and economic attitudes of the individuals.Classification-JEL: A20, D14, D83.

Suggested Citation

  • Müge ÇETİNER & Ahmet Mete ÇİLİNGİRTÜRK, 2019. "The Effect of Social Networks on Financial Literacy," Sosyoekonomi Journal, Sosyoekonomi Society.
    • Handle: RePEc:sos:sosjrn:190302
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    References listed on IDEAS

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    1. Nofsinger, John R., 2012. "Household behavior and boom/bust cycles," Journal of Financial Stability, Elsevier, vol. 8(3), pages 161-173.
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    More about this item

    Keywords

    Financial Literacy; Finance and Economical Attributes Scale; Economic Human Types; Social Networks and Media.Issue:27(41);
    All these keywords.

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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