FINANCIAL EDUCATION AND FINANCIAL LITERACY OF COLLEGE STUDENTS ON A SANTA CATARINA FEDERAL INSTITUTE

Abstract

Access to information and financial knowledge is fundamental in today’s society, and on a globalized world, actions are needed to help people make important decisions, besides achieving individual and social well-being. These actions can involve education and financial literacy, terms that are easily confused. While financial education is defined as a process in which consumers and investors improve their understanding of financial concepts, risks and products, financial literacy translates as an association of awareness, skill, knowledge and behavior necessary to make decisions related to finance, as well as how to achieve your own financial well-being. This research sought to investigate and analyze the level of education and financial literacy of undergraduate students at Instituto Federal Catarinense - IFC, and also to identify and list factors and influential behaviors in their education and financial literacy. As a result, it was identified that among respondents, 57.64% were considered literate and financially educated, according to the scale proposed in the study. This percentage is in line with the average percentual of countries with consolidated economies and high socioeconomic indexes, such as those on the European continent. This average is still significantly higher than that of most countries in Latin America. Still, it was shown that factors such as region of origin, income, employability and type of residence did not significantly influence the level of education and financial literacy of students. However, gender, education, parental education and age were found to be influential in this same level.