Financial literacy among the youth in Switzerland

Kendzia, Michael Jan; Borrero, Yoan Suozzi

doi:10.4236/jfrm.2022.112017

Please use this identifier to cite or link to this item: https://doi.org/10.21256/zhaw-25788

Publication type:	Article in scientific journal
Type of review:	Editorial review
Title:	Financial literacy among the youth in Switzerland
Authors:	Kendzia, Michael Jan Borrero, Yoan Suozzi
et. al:	No
DOI:	10.4236/jfrm.2022.112017 10.21256/zhaw-25788
Published in:	Journal of Financial Risk Management
Volume(Issue):	11
Issue:	2
Page(s):	323
Pages to:	341
Issue Date:	2022
Publisher / Ed. Institution:	Scientific Research Publishing
ISSN:	2167-9533 2167-9541
Language:	English
Subject (DDC):	332: Financial economics
Abstract:	While many resources are available for people to increase their financial knowledge in Switzerland, recent studies indicate that the level of financial literacy is relatively low across nations. To gather the data, a quantitative online survey was conducted among young people in Switzerland. Overall, important demographic differences in financial literacy levels were found for the gender and education variables. Firstly, young men show a higher financial literacy score than women and invest more than women. In addition, individuals with a university degree scored better at the financial literacy questions than those without and were more likely to invest. However, no conclusion could be made about the relationship between income and financial literacy. The main reason why people did not invest constitutes a lack of knowledge. Unsurprisingly, individuals with lower financial literacy tend to make more financial mistakes, save less for retirement, and accumulate less wealth in their lives.
URI:	https://digitalcollection.zhaw.ch/handle/11475/25788
Fulltext version:	Published version
License (according to publishing contract):	CC BY 4.0: Attribution 4.0 International
Departement:	School of Management and Law
Appears in collections:	Publikationen School of Management and Law

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Kendzia, M. J., & Borrero, Y. S. (2022). Financial literacy among the youth in Switzerland. Journal of Financial Risk Management, 11(2), 323–341. https://doi.org/10.4236/jfrm.2022.112017

Kendzia, M.J. and Borrero, Y.S. (2022) ‘Financial literacy among the youth in Switzerland’, Journal of Financial Risk Management, 11(2), pp. 323–341. Available at: https://doi.org/10.4236/jfrm.2022.112017.

M. J. Kendzia and Y. S. Borrero, “Financial literacy among the youth in Switzerland,” Journal of Financial Risk Management, vol. 11, no. 2, pp. 323–341, 2022, doi: 10.4236/jfrm.2022.112017.

KENDZIA, Michael Jan und Yoan Suozzi BORRERO, 2022. Financial literacy among the youth in Switzerland. Journal of Financial Risk Management. 2022. Bd. 11, Nr. 2, S. 323–341. DOI 10.4236/jfrm.2022.112017

Kendzia, Michael Jan, and Yoan Suozzi Borrero. 2022. “Financial Literacy among the Youth in Switzerland.” Journal of Financial Risk Management 11 (2): 323–41. https://doi.org/10.4236/jfrm.2022.112017.

Kendzia, Michael Jan, and Yoan Suozzi Borrero. “Financial Literacy among the Youth in Switzerland.” Journal of Financial Risk Management, vol. 11, no. 2, 2022, pp. 323–41, https://doi.org/10.4236/jfrm.2022.112017.