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We examine financial literacy in Germany and its relevance for financial well-being. Using data from the Panel on Household Finances collected in 2021, we show that about 62% of German households answer the Big Three financial literacy questions correctly. Those with lower education, who are out...
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This study quantifies financial well-being and its determinants, including financial literacy, in Romania. It addresses the main factors driving the low levels of financial inclusion and the inter-dependence between financial system development and financial education. To uncover what...
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There is a substantial degree of heterogeneity in people’s propensity to engage in financial behaviors that could be considered unsound. Hence, we aim to study the association of individual differences in objective financial knowledge (OFK) (i.e., competence), subjective financial knowledge...
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indicators, emphasizing the subjective nature of well-being. The research objective is to investigate how savings and personal … financial literacy. Research methodology - the research investigates the impact of savings and personal budgeting indicators on … per capita). We applied Pearson's pairwise correlation between nine indicators of personal budgeting and savings and the …
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