A Conative Approach to Financial Personality in Three Age Groups

Proceedings of The 11th International Conference on New Ideas in Management, Economics and Accounting

Year: 2023

DOI: https://www.doi.org/10.33422/11th-.imeaconf.2023.02.110


A Conative Approach to Financial Personality in Three Age Groups

Erzsébet NÉMETH, Botond Géza KÁLMÁN




In 2012 and 2020, a comprehensive survey was conducted on the financial culture of Hungarian higher education students. According to this, the effectiveness of financial training has not improved. The reasons for this can also be revealed by the attitude-based conative examination of the financial personality, which has been taking place since 2016 on the website of the Financial Compass Foundation (https://penziranytu.hu/penzugyi-szemelyisegtesztek). Voluntary and anonymous online questionnaires developed for adults, high school students and children examine behavioural patterns and motivations for the practical use of money. Based on the results, a seven-year government strategy to develop the financial awareness of the population was launched in Hungary, and compulsory economic education became part of the National Core Curriculum. Many organisations used the results of the research when designing the training courses. Interested foreign partners and institutions also indicated that they would participate in the research. Therefore, the research is currently being expanded internationally and the questionnaires are being translated. The authors of this study are members of this research group. Before moving to the international level, the methodological grounding of the questionnaires was examined using statistical methods based on the 40,000 responses collected so far in Hungary. These results are presented in their presentation. The aim of the international research is to create a database that helps to explore the background of the financial personality and enables the examination of their country-specific characteristics.

keywords: financial behaviour, motivations, questionnaire, validation, international research