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The Impact of Financial Education on Banking Behavior


  • Sorina Botis

    () (Transilvania University of Brasov)


The purpose of the article is to highlight the increasing importance of financial education or its absence, on the behavior and decisions of consumers in a more sophisticated banking market, being offered a variety of complex financial instruments for borrowing and saving, credit cards, mortgage loans, insurance, investment and retirement saving etc., with a large range of options. The financially educated consumers, well informed and familiarized with financial instruments, are able to make responsible choices, otherwise risking isolation and financial exclusion. The article presents a comparative study, based on statistical data, between countries within the European Union, including Romania, from the point of view of the financial inclusion index, the access of the population to financial services, the proportion of the adult population using banking products and services such as bank accounts, credit cards, debit cards, saving products, the proportion of borrowers by the type of the credit, the role of financial institutions in providing financial education, the level of education and the access to it.

Suggested Citation

  • Sorina Botis, 2017. "The Impact of Financial Education on Banking Behavior," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 13(6), pages 292-302, DECEMBER.
  • Handle: RePEc:dug:actaec:y:2017:i:6:p:292-302

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    References listed on IDEAS

    1. Maria Lenuta Ulici-Ciupac & Ioana Pop-Radu & Maria Letitia Bratulescu (Andronic), 2013. "Study on the European Welfare and Tax Systems Models Used to Support Economic Growth and Overcome the Effects of the Crisis," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(6), pages 149-162, December.
    2. Marius Sorin Dincă & Gheorghiţa Dincă & Maria Letiţia Andronic, 2016. "Efficiency and Sustainability of Local Public Goods and Services. Case Study for Romania," Sustainability, MDPI, Open Access Journal, vol. 8(8), pages 1-24, August.
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    Cited by:

    1. Robert Huterski & Agnieszka Huterska & Michal Polasik, 2018. "Payment account with basic features and its significance in the reduction of financial exclusion in Poland," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 17(2), pages 137-155, June.

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