Basic financial literacy over demographic characteristics: A study commercial banks' customers in Vietnam

Abstract

The goal of this research is to assess the level of basic financial literacy of commercial banks' customers. The present paper reflects the results of the author's conducted survey based on the sample of 211 respondents. A set of 14 questions on financial knowledge and socio-demographic characteristics was developed to detect the importance of basic financial literacy, as well as to identify the association between financial literacy and a range of socio-demographic attributes. Data was processed by means of SPSS, applying analyst descriptive statistics. The results of descriptive statistics indicated that the average of basic financial knowledge of commercial banks' customers in Vietnam is moderated. Results of this research can assist to improve the level of individuals' financial knowledge by creating a wide range of education programmers related to finance and have other research into this field done in Vietnam.