Financial illiteracy, motivations and barriers to saving and investing by Spanish households
Attaining a basic knowledge about financial terms and concepts is a prerequisite for individuals and families to be able to make good decisions about managing their financial resources. Financial decisions such as saving, investing, borrowing and risk-management require a basic understanding regardi...
| Autores: | , , |
|---|---|
| Tipo de recurso: | capítulo de libro |
| Fecha de publicación: | 2017 |
| País: | España |
| Institución: | IE |
| Repositorio: | Repositorio IE |
| OAI Identifier: | oai:repositorio.ie.edu:20.500.14417/2836 |
| Acceso en línea: | https://doi.org/10.5281/zenodo.5095111 https://hdl.handle.net/20.500.14417/2836 |
| Access Level: | acceso abierto |
| Palabra clave: | Ahorros Inversiones Conocimientos Financieros Recursos financieros Analfabetismo financiero Savings Investments Financial Knowledge Financial resources Financial illiteracy ODS 4 - Educación de calidad |
| Sumario: | Attaining a basic knowledge about financial terms and concepts is a prerequisite for individuals and families to be able to make good decisions about managing their financial resources. Financial decisions such as saving, investing, borrowing and risk-management require a basic understanding regarding the effects of inflation on the value of money over time, the effects of interest rates and their relationship to the cost of loans, and the effects of compound interest on the real value of savings and investments (S&P, 2014). If financial literacy in these areas is lacking, this greatly increases the difficulty of choosing the correct financial strategy, thus placing the economic stability and security of one’s family at risk, which is of particular concern given the relatively unstable current macroeconomic environment. Additionally, financial illiteracy also constrains individuals from actively participating in the overall economy, thus negatively impacting not only themselves but also the general economy (e.g., Lusardi and Tufano, 2015; Lusardi and de Bassa Scheresberg, 2013; Stango and Zinman, 2009).(Full book available at https://www.funcas.es/wp-content/uploads/Migracion/Publicaciones/PDF/2111.pdf) |
|---|