Study title

This survey studied the financial awareness and knowledge of people living in Finland, and their views on financial issues. The survey is based on the OECD financial literacy questionnaire and methodological guidance developed by the International Network on Financial Education (INFE). Data collection was conducted by TNS Gallup Finland. The survey was financed by Academy of Finland (269130), OP Group Research Foundation (OP-Pohjola ryhmän tutkimussäätiö), Foundation for Economic Education (Liikesivistysrahasto), Vaasan Aktiasäätiö, and Finnish Foundation for Share Promotion (Pörssisäätiö). Main themes included management of personal finances, consumption and saving behaviour, insurances, preparedness for retirement, financial knowledge in general, over-indebtness, own financial abilities and trust in financial institutions. The respondents were also asked to evaluate their financial decisions and the influences behind their decisions. The respondents' management of daily finances was charted with questions on whether the respondents planned their personal or household's consumption beforehand (e.g. by making a budget) and what methods they used for planning and monitoring their finances (e.g. online banking). Some questions focused on the financial products (e.g. credit cards, bank accounts, debts, insurances, investments) that the respondents used and where they got information on these products. General attitudes towards personal finance management were studied through statements relating to, for example, paying bills on time, taking risks in life, monitoring of finances and worrying about the future. Ways of dealing with insufficient income to cover costs were also charted (e.g. whether the respondents borrowed food or money from family or friends). Saving behaviour was investigated by asking the respondents, for example, whether they saved money on their disposal account or invested in shares, and for how long they could live on their savings if their main...