Financial Literacy Level of Tehran Households and its Determinant Factors

Subject Areas : Financial Knowledge of Securities Analysis

Zahra Dianati Dilami ¹ , Mohamma Hanifezadeh ²

1 - استادیارگروه حسابداری دانشگاه علوم اقتصادی عضو انجمن مهندسی مالی ایران و نیز انجمن حسابداری مدیریت ایران
2 - دانشجوی کارشناسی ارشد دانشگاه علوم اقتصادی

Received: 2014-05-03 Accepted : 2014-10-07 Published : 2015-06-22

Keywords: Financial Literacy, Family Finance, Financial Product, financial services, Financial Accessibility, Family Financial Advisor,

Abstract :

Nowadays financial instruments play an important role in human lifestyle. Bysurveying the evidence on financial literacy levels around the world, results show thatimproving financial literacy level of individuals will effect on the financial deals as wellas social welfare. In order to introduce, measure and represente new methods ofimproving financial literacy, comprehensive national initiatives and programs funded bythe World Bank and other donors have sprung up around the world. In this survey wemeasured financial literacy level of Tehran households and its determinant factors by theuse of questioner. 410 households were randomly selected to participate in the survey.The results indicate that financial literacy of selected individuals is not desirable althoughinterested on using financial advice and having family financial advisor. Other factors(such as age, generation, education level, revenue level, wealth accumulation level,education field and location), surveyed as a separate assumption to the financial literacyof Tehran households. Their relation with financial literacy were confirmed and learningprograms and introducing by mass Medias are our offers for the first step.