Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 26, 2019 erstellt
Description:
Despite growing literature on financial literacy, little is known about the linkages between its key components. Based on a nationally representative sample of adult Poles (N=1,004) and applying a structural equation model, we examined the relationships between financial knowledge, skills, confidence (i.e., self-assessed knowledge), attitudes, and behaviors in debt-domain. We found that financial confidence – at least regarding debt-related issues – is tied to debt attitudes and behaviors beyond the extent to which the attitudes and behaviors are linked to actual debt knowledge. Moreover, the relationship between knowledge and confidence turned out to be insignificant in our study. These findings suggest that confidence should be used as a separate marker of financial competence. We also established that skills correlate with behavior, and particularly with attitudes, differently from knowledge. This indicates a need for isolated treatment of skills in financial literacy measurements. Financial literacy, split into five components, exhibits a gender gap only in the debt-knowledge domain, suggesting that more in-depth look at financial literacy may help to resolve the gender puzzle discussed extensively in financial literacy literature