The knowledge and practice of financial education

A behavioral assessment

Abstract

Financial education and its importance for the social and economic progress of a country and its inhabitants is an indisputable fact. The theme concept is responsible for instructing people about the administration of their income so that they obtain better theoretical and practical performance in managing their finances. The main objective of this study was to identify the effectiveness that the knowledge and practice of financial education exerts on people, with regard to their daily lives. The methodology used was the quantitative approach, of the descriptive type, through the Survey method, and the research universe consisted of users who wished to interact with the link provided by the researchers through social media or other digital media. The instrument used for data collection was the questionnaire applied through Google Forms, which had the participation of 325 respondents. Through the results, it was identified that most respondents have, in addition to behavioral traits consistent with the needs that financial education requires for application, theoretical maturity in terms of knowledge of the fundamental elements and concepts that guide the theme. Besides, there is a satisfactory mastery of the daily practice of financial education by most respondents, with regard to financial planning and financial management, in addition to a positive agreement that the financial education represented and still plays an effective role within the objectives personal connected to the life projects of the majority of the interviewees.