Title page
Contents
Foreword 3
Executive Summary 6
1. Introduction 9
Background 9
The OECD/INFE Toolkit to measure financial literacy and previous assessments 9
About this Report 10
2. Financial literacy and its components 12
Overall levels of financial literacy 13
Financial knowledge 17
Financial behaviour 21
Financial attitudes 25
Financial literacy levels across socio-demographic groups 27
Context for understanding financial literacy levels: financial product holding and experiences in the financial marketplace 29
3. Digital financial literacy 36
Digital financial literacy 37
Digital financial literacy questions 39
Digital financial literacy levels across socio-demographic groups 41
Context for understanding digital financial literacy levels: digital activities and digital financial services 42
4. Financial well-being 47
Levels of financial well-being 48
Responses to individual financial well-being questions 50
Financial well-being levels across socio-demographic groups 53
Financial well-being and financial literacy 55
5. Policy suggestions 56
References 59
Annex A. Information on data collection 62
Annex B. Descriptive statistics 66
Annex C. Notes on methodology 67
Annex D. Tables 75
Figure 2.1. Overall financial literacy 14
Figure 2.2. Minimum target financial literacy 16
Figure 2.3. Minimum target financial knowledge 18
Figure 2.4. Financial knowledge questions 20
Figure 2.5. Changes in financial knowledge 21
Figure 2.6. Minimum target financial behaviour 23
Figure 2.7. Financial behaviour questions 25
Figure 2.8. Financial attitude questions 27
Figure 2.9. Variation in financial literacy 28
Figure 2.10. Financial product holding and financial literacy 32
Figure 2.11. Holding savings, investment or retirement products and financial knowledge 33
Figure 2.12. Having been a victim of a financial fraud or scam and financial literacy 35
Figure 3.1. Digital financial literacy 38
Figure 3.2. Minimum target score on digital financial literacy 39
Figure 3.3. Digital financial literacy questions 41
Figure 3.4. Holding crypto-assets and digital financial literacy 44
Figure 3.5. Managing financial products and services online and digital financial literacy 45
Figure 3.6. Shopping online and digital financial literacy 46
Figure 4.1. Financial well-being 49
Figure 4.2. Financial well-being questions 51
Figure 4.3. Changes in financial resilience 53
Figure 4.4. Variation in financial well-being 54
Figure 4.5. Financial well-being and financial literacy 55
Boxes
Box 2.1. Changes in financial knowledge 21
Box 2.2. Sustainable finance products 30
Box 3.1. Crypto-assets 43
Box 4.1/Box 2. Changes in financial resilience over time 52