This working paper studies and explores the information from the Financial Literacy Survey from a double perspective. On the one hand, it evaluates the level of financial literacy of the individuals in the sample, relating it within a set of available socio-demographic and economic variables and, on the other hand, it attempts to determine the influence of financial literacy on the decision to save or invest in a specific financial product, such as a mutual fund or a pension plan.
The Financial Competences Survey was jointly prepared by the Bank of Spain and the CNMV, with the collaboration of the National Statistics Institute between 2016 and 2017 as part of the Financial Education Plan. The survey consists of around 200 questions asked to 8,554 individuals regarding their knowledge of economic and financial concepts, their saving capacity and their holding of financial products.
Full content of the publication
The Trend of Financial Literacy Among Millennials
According to a PricewaterhouseCoopers (PwC) survey of 5,500 millennials, all born between the early 1980s and mid-1990s,...Read more
Mental health, accessibility and money
Managing your finances and dealing with your bank can sometimes be frustrating and difficult.Read more
2021 EduFin Position Paper
How can financial education contribute to a sustainable and inclusive recovery?Read more