engleski

Financial education of the population - a key factor for successful personal finance management

By acquiring new knowledge and technologies on a daily basis, one of the key competences of each individual is the possession of knowledge and skills in the field of finance. Financial education is a set of knowledge in the field of finance that is necessary in making short-term and long-term financial decisions for the population. Adequate financial involvement of the population in the financial system as a basic starting point for social participation is gaining more importance. However, financial exclusion can be defined as the gap between the needs and the demand of certain social groups to offer basic financial services to credit institutions. It addresses the problem of individual participation in the financial sector through difficulties in obtaining and using financial services. The reasons for complete or increased financial exclusion of the population can be sought in their marginal participation in the financial system due to lack of personal income, insufficient knowledge of financial laws, poor education in the personal finance segment and individuals' attitudes towards personal finances. The aim of this paper is to research, collect and analyze relevant information on the financial potential of the population in Eastern Croatia, understanding their status in the financial system, and their relationship to personal finance, which substantially reflects the level of their financial education. Accordingly, the author presents the results of research related to financial education of the population and its impact on the management of personal finances using the survey method, comparative, analytical and synthetic method. The expected result of the research will be reflected in the segment of establishing the correlation between financial education and the management of personal finances of the population in the territory of Eastern Croatia for individual variables from the questionnaire.

financial education ; personal finance ; financial management ; Eastern Croatia

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