The Impact of the Pandemic on the Level of Financial Literacy of Technical University Newcomers

Abstract

Financial literacy is one of the key competencies for life in modern 21st-century society. Several studies show that education plays an important role in raising the level of financial literacy and economic awareness. It is the consistency and continuity in education that positively influence an individ­ual’s financial competence. However, recent years have been influenced by the anti-pandemic measures in connection with the COVID-19 disease. These measures have also had a significant impact on education particu­larly, in the transition to distance online education. In this paper, the authors focus on the level of financial literacy of university students coming out of long-term distance education. The authors have applied the questionnaire survey method in the research. The research uses the personal finance index as a proxy for measuring financial literacy. The authors compare the results obtained with those from the pre-COVID period using statistical methods. This approach then allows concluding the impact of the move to distance learning on levels of financial literacy.

On the Regional Differences in Financial Literacy of the University Students

“…The next significant characteristics of the Czech respondents is the higher importance level they attribute to financial literacy. How stated in (Kozubíková, 2017): "An important factor influencing the progress in financial literacy during education, we have detected the importance that the respondents attribute to the financial literacy". Thus, comprehending the importance of financial literacy can be crucial to the wasting of the gap between the two countries.…”