A recent survey - including a contribution by CeRP - on Italians’ financial choices offers a clear snapshot of the country’s level of Financial Literacy.
Italy doesn’t stand out in Financial Literacy. And we are not alone but we stay there with other Mediterranean countries, i.e. Spain and Portugal. What’s striking (even) in this domain is a remarkable gender gap: women vs men; young vs old; employees vs self employed; employed vs unemployed. Something that can do anything else but change.
Italians have a deep-rooted attitude towards money saving. That is, we put money apart and we build up a personal wealth without being aware? A mistery or a paradox…
A recent survey on Italians’ financial choices carried out by Centro Einaudi, a Turin-based research center, together with Intesa Sanpaolo, Italy’s largest bank, offers a clear snapshot of the country’s level as for Financial Literacy. With some highlights of the utmost interest for their relation with Finkit goals: to what extent women and old people are relatively weak in FL.
At present it is only possible to set up stopgap actions with these vulnerable groups. Nevertheless, future grey panthers should be given a thorough financial education since childhood, so to develop well trained new generations and meet a double goal, by fostering both individual and society’s growth.
The Centro Einaudi/Intesa Sanpaolo survey includes the chapter “La conoscenza finanziaria di base: un nuovo strumento di progresso individuale e sociale” written by CeRP researchers Eleonora Brandimarti, Flavia Coda Moscarola, Elsa Fornero. The chapter deals with the importance of financial knowledge in today's society, and presents data on the financial literacy level of Italian people.