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

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Listed:
  • Aina Čaplinska

    (Daugavpils University, Latvia)

  • Alina Danileviča

    (Daugavpils University, Latvia)

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.

Suggested Citation

  • Aina Čaplinska & Alina Danileviča, 2022. "Financial literacy of secondary school leavers: a case of Latgale region in Latvia," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 10(2), pages 544-556, December.
    • Handle: RePEc:ssi:jouesi:v:10:y:2022:i:2:p:544-556
    DOI: 10.9770/jesi.2022.10.2(34)
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    References listed on IDEAS

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    1. Lo Prete, Anna, 2022. "Digital and financial literacy as determinants of digital payments and personal finance," Economics Letters, Elsevier, vol. 213(C).
    2. Andris Sarnovics & Inese Mavlutova & Liga Peiseniece & Santa Berzina, 2016. "Financial Literacy Enhancement as a Task of Financial Education for Latvian Population," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Business Challenges in the Changing Economic Landscape - Vol. 2, edition 1, pages 365-389, Springer.
    3. Ani Caroline Grigion Potrich & Kelmara Mendes Vieira & Wesley Mendes-Da-Silva, 2016. "Development of a financial literacy model for university students," Management Research Review, Emerald Group Publishing Limited, vol. 39(3), pages 356-376, March.
    4. Ani Caroline Grigion Potrich & Kelmara Mendes Vieira & Wesley Mendes-Da-Silva, 2016. "Development of a financial literacy model for university students," Management Research Review, Emerald Group Publishing Limited, vol. 39(3), pages 356-376, March.
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    More about this item

    Keywords

    financial literacy; financial literacy index; youth; school learners; secondary school leavers; Latgale;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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