Financial literacy is an essential life skill’. It can make a crucial difference in the lives of people, in their opportunities, in their success. Assessing the levels of financial literacy in the population is a key component of a successful project strategy for financial education, enabling us to identify gaps and design appropriate responses. The assessment tool will measure the financial knowledge, behaviour and attitudes.
The Toolkit includes a questionnaire designed to collect relevant information about financial literacy and financial inclusion: useful to compare levels of financial literacy and financial inclusion across countries.
The test will be an easy, fast and reliable tool not only for measuring the level of financial knowledge, but also for evaluating behaviors and attitudes.
The questions concern the understanding of the basic concepts useful for making financial choices: inflation; interest rate; difference between simple and compound interest rate; risk diversification.
The questions refer to the management of financial resources in the short and long term: setting financial objectives, planning of resources to be allocated to consumption, bill payments, savings in recent months.
The questions reveal the orientation of individuals to saving, especially of a precautionary nature, in a long-term perspective.
The tool has 2 strategic functions:
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