Subjective vs. objective assessment of financial literacy – do beliefs meet reality?

Sylwester Białowąs


This paper investigates the problem of financial literacy, which is analysed from two perspectives. The first is the knowledge about saving and loans, and the other – the relations between subjective knowledge (SK) and objective knowledge (OK) and their impact on financial decisions. The analyses were made on the basis of quantitative studies conducted using the structured face-to-face interviews method. The sample consisted of 438 persons from Wielkopolska (Poland). The results suggest that there is a higher differentiation of knowledge about saving compared with the knowledge about loans and in general, slightly higher level of knowledge about loans. The research confirms significant relations between chosen financial behaviours (being experienced or unexperienced) and the level of SK and OK. The greater differences were measured for SK. The study also featured a group of respondents who self-assess their knowledge on a level close to their objective knowledge, as well as those who overestimate and those who underestimate it. These segments were described taking into account demographic and economic features.
Author Sylwester Białowąs (WZ / KBRiU)
Sylwester Białowąs,,
- Department of Research Markets and Services
Journal seriesRozprawy Ubezpieczeniowe, ISSN 1896-3641, (B 7 pkt)
Issue year2018
No3 (29)
Publication size in sheets0.5
Keywords in Englishobjective financial knowledge, subjective financial knowledge, financial behaviour
Languageen angielski
Score (nominal)7
Score sourcejournalList
ScoreMinisterial score = 7.0, 20-03-2020, ArticleFromJournal
Citation count*1 (2020-09-11)
Share Share

Get link to the record

* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.
Are you sure?