Financial literacy of secondary school leavers: a case of Latgale region in Latvia

Aina Čaplinska () and Alina Danileviča ()
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Aina Čaplinska: Daugavpils University, Latvia
Alina Danileviča: Daugavpils University, Latvia

Entrepreneurship and Sustainability Issues, 2022, vol. 10, issue 2, 544-556

Abstract: Financial literacy, as a totality of knowledge and skills, provides an opportunity for a person to manage finances successfully, and take rational decisions concerning the choice of various financial services, thus facilitating both individual and public welfare and sustainability. The financial markets have changed along with the financial consumers' awareness. Financial services have become a mass and freely accessible product group, whereas financial institutions have become a part of everyday life for all social groups. Over time, the age of the persons involved in financial processes and evolving consumers of financial services becomes younger and younger. Hence, the need for knowledge and awareness of finances, financial product diversity and related risks is growing more acute for improving financial decision-making. For this reason, financial literacy is acknowledged as a vital life skill globally. The research aims to study, assess, and analyse the financial literacy of secondary school leavers in Latgale.

Keywords: financial literacy; financial literacy index; youth; school learners; secondary school leavers; Latgale (search for similar items in EconPapers)
JEL-codes: G20 G32 H31 L26 M10 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:10:y:2022:i:2:p:544-556

DOI: 10.9770/jesi.2022.10.2(34)

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