Evaluating digital financial literacy in Portugal

Abstract

Technology is developing at a fast pace, and the general use of financial instruments has been shifting towards the digital world. The purpose of this study is to develop and test a model for Doutor Finanças, designed to assess the level of digital financial literacy in Portugal. In the future, the company aims to use the model to track the level of digital financial literacy of the Portuguese population on a yearly basis. This paper will also provide useful insights about the level of digital literacy, financial literacy and digital financial literacy of Portuguese individuals. We will address the impact of different aspects such as education, gender, age and the field of study. The methodology used in the project was a survey that worked as a test for the model, distributed exclusively to the Portuguese population and shared through the social media.The main findings suggest that men outbalance women in terms of digital financial literacy, with a small difference in the ‘age’ variable, favouring younger individuals when compared with older people. Moreover, there was also a positive correlation between digital financial literacy and education level, as longer-schooled individuals tend to be more digital financial literate.

Date of Award	26 Jan 2021
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	João Cotter Salvado (Supervisor)