Financial literacy, financial behavior and economic system

Abstract EN

Financial literacy measure how much one comprehends key money related financial concepts, through appropriate short-term decision making, so Financial literacy is an essential information and that individuals need so as to make due in a modern society.

Financial literacy can be affected by environmental issues, such as regional differences and economic systems.The relationship between financial literacy and financial behavior has been considered in a number of other studies, financial literacy is an important determinant of financial behavior in developing countries, financial literacy is also associated with increased equity ownership, the use of low-cost mortgages, and retirement planning behavior.