Author(s): Santos, E. ; Tavares, V. ; Ratten, V. ; Tavares, F.
Date: 2021
Persistent ID: http://hdl.handle.net/10400.8/9159
Origin: IC-online
Subject(s): Financial decisions; Financial alphabetization; Financial education; Perception of financial literacy; Financial literacy
Purpose The purpose of this study is to identify the profile of the Portuguese regarding the perception of financial literacy. Design/methodology/approach The utilized methodology is based on a questionnaire survey that assesses the perception of financial literacy. The sample is composed of 830 Portuguese individuals over 18 years old. Findings The results show that the financial literacy scale presents a tri-factor structure with adequate validity and reliability levels. The three obtained factors are designated 1-2-year financial planning and goals, long-term saving and taste for numeric calculations. Originality/value The originality in this study is shown in the application of the cluster analysis, which demonstrates the formation of three clusters that present different perceptions of financial literacy, classifying the Portuguese into a cluster of high financial literacy and taste for numeric calculation, a cluster of low financial literacy and a cluster of financial planning and saving but without the taste for numeric calculation.
