The ABC of finance

Are Italian adults financially literate?

With
  • /
Category
  • Data Visualization
  • Information Design
Year
  • 2020

About

Assessing the levels of financial literacy in the population is a key component of a successful national strategy for financial education, enabling policy makers to identify gaps and design appropriate responses. In 2020 the Bank of Italy has conducted a survey on the financial literacy and competence of Italian adults (IACOFI), based on the methodology developed by the OECD's International Network on Financial Education (INFE) which considers the very basic understanding of banking, savings, and the importance of good credit. The INFE's methodology was used to assign a financial education score from 1 to 21 resulting from the sum of three components: financial knowledge (0 to 7), behaviour (0 to 9) and attitudes (1 to 5).

The visualization shows the average financial literacy scores of the Italian population considering the highest level of education, the family net monthly income and the occupation. It also shows the average scores of the three components by gender and highest level of education.

Source: Banca d'Italia

An interactive version of the visualization will follow soon.

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