Econometric analysis of the impact of financial literacy on financial decision making

Аннотация

Successful financial management is important at every stage of the life process, but as people get older, financial decisions can become more difficult. Older people have to manage many financial resources and make financial decisions throughout their lives. In addition, financial liberalization has led to an proliferation of new financial products and services, many of which are unfamiliar to retirees. This increasing complexity can also be exacerbated by subsequent declines in financial literacy. However, older people may have years of experience in making financial decisions and following the decisions of others. This paper studies the determinants of financial literacy level in Uzbekistan according to the survey among people aged from 40-70