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Financial Stress and Resilience: The Case of Youth in Attica, Greece

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  • Vasiliki A. Tzora

    (University of Piraeus
    Hellenic Financial Literacy Institute)

Abstract

Financial literacy is the knowledge and understanding of financial concepts and skills. Financial literacy is an essential tool to make informed decisions regarding personal finances. This study measures the levels of financial literacy among university students in the region of Attica, Greece. Additionally, the paper examines the relationship between financial literacy levels and university students’ financial resilience. Financial resilience is measured by a student’s ability to cover or not an emergency shock of €300. Financial resilience is related to handling financial stress because it reflects the student's ability to manage financial challenges. In this study a convenient sample of 865 university students were called to answer multiple-choice questions relating to financial knowledge and skills. Findings confirmed the link between financial literacy and financial resilience. Ordered probit regression analysis shows that there are 6% more chances for a university student who is financially literate to cover an unexpected cost of €300. Low financial literacy levels among university students leads to less financial resilience among students. Well-structured financial educational initiatives could close the financial knowledge gap. Educators, policymakers and regulators could use these findings to develop financial literacy policies.

Suggested Citation

  • Vasiliki A. Tzora, 2025. "Financial Stress and Resilience: The Case of Youth in Attica, Greece," Springer Proceedings in Business and Economics,, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-81962-9_97
    DOI: 10.1007/978-3-031-81962-9_97
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