The assessment of youth financial literacy impact on saving

Abstract

Financial literacy and savings are very important for efficient personal finance management. If the person has an excellent financial literacy level, the amount of savings is very high. This article aims to assess the link between youth financial literacy and savings. The following tasks have been implemented: to analyse the scientific literature about financial literacy and personal finance management and assess youth financial literacy’s impact on savings. In the article, the following methods of analysis are used: an analysis and summary of the scientific literature, an analysis of the survey data, and correlation regression analysis.