DOI: 10.32725/978-80-7394-976-1.16

Financial literacy in Slovakia – comparative study

Marcel Novák
University of Economics in Bratislava, Faculty of National Economy, Department of Economics, Bratislava, Slovak Republic, marcel.novak@euba.sk.


With the term financial literacy resp. financial illiteracy, whose low financial literacy of Slovaks we can meet more and more often. The issue of financial literacy also plays an important role in connection with household indebtedness. If households are unable to assess their financial situation or estimate whether it is appropriate for them to seek foreign resources, they can easily become over-indebted without being able to repay debts. The aim of the article is to evaluate the links between the lower level of financial literacy and the growing indebtedness of Slovak households by comparing the results of the personal questionnaire survey and the results of the HFCS household financial behaviour survey. The results suggest the existence of a positive correlation between financial literacy and the level of completed education. Individuals without any form of debt are more financially literate. If individuals are unable to spend their money efficiently and spend it recklessly, it can lead to their debt.

Klíčová slova: Financial literacy, financial illiteracy, survey, indebtedness

stránky: 101-108



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