The impact of financial literacy on saving and investment behavior

Hello, we are Vaineta and Evita, second-year students of the Faculty of Economics at Vilnius College. We are conducting an anonymous survey on the topic "The impact of financial literacy on saving and investment behavior."

The aim of the study is to determine the correlations between objective and subjective financial literacy and regular saving, having a financial reserve, and investment behavior. Filling out the survey will take about 4 to 6 minutes.

The survey is intended for persons living in the Republic of Lithuania who are 18 years old and older. Participation is voluntary, and the data will be used only for academic purposes.

Results are available only to the author

1. Your age: ✪

2. Your gender: ✪

3. Your highest level of education: ✪

4. Your average monthly personal income, after taxes: ✪

5. If you have 100 Eur in an account and receive 10% annual compound interest, after two years you would have: ✪

6. If savings earn 2% annual interest while prices increase by 5% in a year, after a year you would be able to buy: ✪

7. Which statement about investment risk and return is correct? ✪

8. Which financial instrument is generally associated with the greatest short-term fluctuations in value? ✪

9. I understand the basic financial concepts well. ✪

10. I can apply my financial knowledge in planning my savings. ✪

11. I trust my ability to make financial decisions independently. ✪

12. I avoid investing when there is a risk of losing some money. ✪

13. What effect does diversification among different financial instruments typically have on overall investment risk? ✪

14. I regularly allocate part of my income to investing. ✪

15. I diversify my investments among several different financial instruments. ✪

16. I allocate my investments among Lithuanian and foreign markets. ✪

17. Which instrument is most suitable for a financial reserve for unexpected expenses? ✪

18. I regularly set aside part of my income for savings. ✪

19. I have a financial reserve sufficient to cover at least three months of essential expenses. ✪

20. I could cover an unexpected month's essential expenses without borrowing. ✪