Studia i Prace WNEiZ US

Previously: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Studia i Prace WNEiZ

ISSN: 2450-7733     eISSN: 2300-4096    OAI    DOI: 10.18276/sip.2016.43/3-35
CC BY-SA   Open Access   CEEOL

Issue archive / nr 43/3 2016
(Financial knowledge and consumers’ financial illiteracy on financial services market)

Authors: Sławomir Smyczek
Uniwersytet Ekonomiczny w Katowicach
Keywords: financial knowledge financial illiteracy financial services
Year of publication:2016
Page range:10 (381-390)
Klasyfikacja JEL: D11
Cited-by (Crossref) ?:


It the article the problem of identification of the level of consumers’ financial literacy in Poland was undertaken. The results of research shows that the level of financial literacy of consumers is low and even a large part of Polish consumers are characterized by financial illiteracy. It evidenced by the fact that consumers make financial decisions mostly on informal information sources. Much less frequently consumers benefit from reliable and objective financial information coming from the market, which, however, requires a greater level of knowledge and financial skills. Research shows also that consumers do not know the regulations concerning the various financial services. The level of financial illiteracy is in contrast to the subjective opinion of consumers about their extensive knowledge of financial institutions and the services they offer.
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