Search results for "FINANCIAL LITERACY"
showing 10 items of 24 documents
Shared Cognitions in a Field of Informal Education: Knowledge Maps Towards Money Management of Young Adults
2013
Prerequisite knowledge of first grade Bachelor students (N = 48) on processes of private consumption and housekeeping (money management) has been assessed by means of knowledge mapping. The study is based on the fact that in German compulsory education, there is no emphasis on economic literacy. Young adults (students), however, have to cope with individual economic planning processes. Most of them succeed based on support from families, friends, and peers. Some may simply refer to successful models experienced within their money socialization or to professional advice. Others, however, fail and become confronted with early indebtedness or even overindebtedness. The percentage of young adul…
PROBLEM ITEMS OF FINANCIAL LITERACY ASSESMENT FOR STUDENTS IN LATVIA
2020
Considering the financial situation in Latvia it is very important not only to realize how effectively students could deal with situations relating to financial issues, but to understand what kind of PISA Financial items exactly bring difficulties. It is necessary to realize how to improve students’ financial literacy. The main of the research is to find out what kind of PISA 2018 financial items are difficult for students and which students’ answers are marked as incorrect. To reach the aim the methods of content analysis. The research data show that students are very good at dealing with tasks similar to their everyday situations and requiring mathematical skills. In their turn, tasks rel…
Latvijas patērētāju finanšu lietpratība mājokļu kredītu tirgū mārketinga kontekstā
2014
Promocijas darbs sastāv no ievada, trim nodaļām, secinājumiem un priekšlikumiem, izmantotās literatūras un informācijas avotu saraksta, pielikumiem. Promocijas darba mērķis ir novērtēt patērētāju finanšu lietpratību mājokļu kredītu tirgū un piedāvāt vienotu modeli finanšu lietpratības līmeņa paaugstināšanai sociālā un komercbanku mārketinga kontekstā. Pirmajā nodaļā analizēti patērētāju finanšu lietpratības teorētiskie aspekti, tostarp tās veidošanas process un vadīšanas iespējas. Nodaļā ir atklāta mārketinga nozīme finanšu lietpratības vadīšanā un piedāvāts transteorētiskais modelis patērētāju finanšu lietpratības paaugstināšanai. Otrajā nodaļā pētīta patērētāju finanšu lietpratības vadīša…
Financial Literacy Self-Evaluation of Young People in Latvia
2021
Regular and proportionate voluntary savings in private pension funds can become an important part of oldage pensions. However, this can happen if the savings are made for a long period of time. This justifies the target group of the 3rd pension level, which are young people who have started to receive a regular income from their professional activity. One of the most discussed issues in promoting voluntary pension savings is the level of financial literacy. In addition to other motivating factors, such as financial incentives, the level of knowledge of the population about the opportunities to participate in the third pillar of pensions makes them want to build up voluntary savings. Effecti…
Financial literacy in the digital age : A research agenda
2023
Digital innovations are transforming financial services and resulting changes in consumer behavior and personal money management. Diffusion of pervasive digital technologies offers individuals quick and easy access to various digital services bringing opportunities and challenges into their personal money management. The study aimed to explore how digitalization affects individuals’ financial literacy and financial capability. As a result, we identified three main themes in the intersection of finance and digitalization: Fintech, Financial behavior in digital environments, and Behavioral interventions. We propose directions for measuring digital financial literacy, updates to the financial …
Voluntary Private Investments Role in Pension System in Latvia
2021
Pension systems have become one of the main priorities for the national governments. Developed countries population is getting older by putting the pressure on the state budgets and work age people tax load. The current pension system in Latvia performs according to regulation of state compulsory unfunded pension scheme since 1996 and regulation of the state funded or accumulated pension scheme since 2001. The third pension system pillar is private voluntary pension schemes realized in form of people contributions into pension funds and life insurance policies. Aim of the research – deeper analyses of voluntary private investments as the pension system part and its development challenges in…
Household Budget Management and Financial Behaviour of the Italian Family in Times of Crisis*
2023
Why are Italians at the bottom of international rankings on financial literacy? Why do they fail to make speculative financial choices and have a marked aptitude for precautionary saving? Using a Weberian perspective on household “budget management” [haushalt] and analysing the results of recent research (e.g. OECD, CONSOB and Bank of Italy), the authors argue that there are always “good reasons” and thus specific rationality that encourages people to save and reject financial speculation. This economic choice emanates from cognitive bias, financial socialisation, financial literacy, and environmental conditions. The hypothesis is that Italian households demonstrate a weaker attitude toward…
Micro and Small Businesses Access to Finance and Financial Literacy of their Owners: Evidence from Latvia, Estonia and Georgia
2021
Lack of financial literacy of micro, small and medium-sized enterprises (MSMEs) owners/managers is often mentioned among the reasons of their financial exclusion. The main objective of the article is to verify whether the targeted group - MSMEs - access to finance and financial literacy of their owners/managers are closely linked in observed countries – Latvia, Estonia and Georgia. As a supportive objective, analysis of the relationship between financial literacy of MSMEs owners, adult literacy and the level of general education in a country is also analyzed. The research is exploratory in its nature, based on intensive literature review, analysis of the countries’ statistics and the case s…
Efficient finance regulator as supporter for financial stability of inhabitants
2020
Recent developments in banking sector in Latvia especially related with PNB Bank where bank accounts of many retired people were located leads to requirements for proficiency of Finance Regulator which has to be efficiently financed, stable and professional. In different countries Finance Regulators have different models of their financing. Aim of the study is to investigate different approaches for Finance Regulator financing and analyse expert views on possible development of Finance Regulator financing model in Latvia. Research methods applied: scientific publications and previous conducted research results analysis and expert survey for possible financing model changes in Latvia. In exp…
Sales Channels and Media Digitalization Impact on People Voluntary Savings for Retirement
2019
Due to the implementation of new technologies and orientation on digital solutions the communication and sales channels have changed dramatically. Information and client service on-line availability presents strong advantages for business, state agencies as well as customers. However, lack of personal interaction during the communication and sales process can make it difficult for people to understand and even frustrate their desire for a product or service. The purpose of the research is to analyse the digitalization impact on voluntary savings for retirement in Latvia and make comparisons with other countries. The voluntary pension schemes are the part of pension system and its third pill…