Zuzana Kozubíková – University of Žilina, Faculty of Management and Informatics, Dpt. of Macro and Microeconomics, Univerzitná 8215/1, 010 26 Žilina, Slovakia
Aleš Kozubík – University of Žilina, Faculty of Management and Informatics, Dpt. of Macro and Microeconomics, Univerzitná 8215/1, 010 26 Žilina, Slovakia
5th International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2021, Online/virtual, October 21, 2021, SELECTED PAPERS published by the Association of Economists and Managers of the Balkans, Belgrade; Printed by: SKRIPTA International, Belgrade, ISBN 978-86-80194-50-9, ISSN 2683-5991, DOI: https://doi.org/10.31410/ITEMA.S.P.2021
Financial literacy is one of the key competencies for life in modern 21st-century society. Several studies show that education plays an important role in raising the level of financial literacy and economic awareness. It is the consistency and continuity in education that positively influence an individual’s financial competence. However, recent years have been influenced by the anti-pandemic measures in connection with the COVID-19 disease. These measures have also had a significant impact on education particularly, in the transition to distance online education. In this paper, the authors focus on the level of financial literacy of university students coming out of long-term distance education. The authors have applied the questionnaire survey method in the research. The research uses the personal finance index as a proxy for measuring financial literacy. The authors compare the results obtained with those from the pre-COVID period using statistical methods. This approach then allows concluding the impact of the move to distance learning on levels of financial literacy.
Financial education; Distanced learning; Statistical methods; Questionnaire survey
Ansong, A. (2011). Level of knowledge in personal finance by university freshmen business students. African J. Bus. Manag., 5. https://doi.org/10.5897/AJBM11.483
Avard, S., Manton, E., English, D., & Walker, J. (2005). The Financial Knowledge of College Freshmen. College Student Journal, 39(2), 321–339.
Atkinson, A., & Messy, F.-A. (2012). Measuring Financial Literacy: Results of the OECD / International Network on Financial Education (INFE) Pilot Study OECD Working Papers on Finance, Insurance and Private Pensions, Vol. 15). https://doi.org/10.1787/5k9csfs90fr4-en
Fornero, E., & Monticone, C. (2011). Financial literacy and pension plan participation in Italy. Journal of Pension Economics & Finance, 10(4), 547–564.
Giesler, M., & Veresiu, E. (2014). Creating the Responsible Consumer: Moralistic Governance Regimes and Consumer Subjectivity. Journal of Consumer Research, 41(3), 840–857. https://doi.org/10.1086/677842
Chen, H., & Volpe, R. P. (1998). An analysis of personal financial literacy among college students. Financial Services Review, 7(2), 107–128. https://doi.org/10.1016/S1057-0810(99)80006-7
Kim, J. (2001). Financial Knowledge and Subjective and Objective Financial Wellbeing. Consumer Interests Annual 47.
Kozubik, A., Kozubíková, Z., & Polák, J. (2019). Financial Literacy of Full-time and Part-time University Students. International E-Journal of Advances in Education, 5(13), 35–43. https://doi.org/10.18768/ijaedu.478251
Kozubík, A., Kozubíková, Z., & Rybička, J. (2017). Financial literacy of university students – the Czech and Slovak experience. New Trends and Issues Proceedings on Humanities and Social Sciences, 4, 41. https://doi.org/10.18844/prosoc.v4i3.2630
Kozubíková, Z. (2017). Analysis of the Impact of Economic Education on the Level of Financial Literacy. In P. Slavíčková (Ed.), International Scientific Conference Proceedings: Knowledge for Market Use: People in Economics – Decisions, Behavior and Normative Models. Paper presented at 12th International Scientific Conference Knowledge for Market Use 2017, Palacký University, Olomouc, September 7-8, 2017 (s. 922–931). Olomouc: Palacký University.
Lusardi, A., & Mitchell, O. (2007). Baby Boomer Retirement Security: The Role of Planning, Financial Literacy, and Housing Wealth. Journal of Monetary Economics, 54(1), 205–240.
Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 52(1), 5–44. https://doi.org/10.1257/jel.52.1.5
Lusardi, A., Yakoboski, P. J., & Oggero, N. (2017). The TIAA Institute-GFLEC Personal Finance Index: A New Measure of Financial Literacy. New York: TIAA Institute.
Mandell, L. (2008). Financial Literacy of High School Students. In J. J. Xiao (Ed.), Handbook of Consumer Finance Research (pp. 163–183). Springer New York. https://doi.org/10.1007/978-0-387-75734-6_10
OECD. (2019). PISA 2018 Assessment and Analytical Framework. OECD. https://doi.org/10.1787/b25efab8-en
Szafrańska, M. (2019). Level of financial literacy of academic youth from rural areas in the Visegrad Group countries. Financial Sciences, 24(3), 46–58. https://doi.org/10.15611/fins.2019.3.05