Tuesday May 24, 2022

The financial literacy of them is sad. People don’t understand what you sign

The adult financial literacy of the Czech Republic is really low, it has shown a comprehensive number of adult financial literacy of the adult population. People often do not even understand the contracts for banking products that they negotiate.

“I did not expect it anyway, but the fact that the data will be so dsn, I was surprised,” said Finance Minister Miroslav Kalousek. “There are two thirds of the people who sign contracts and commit to long-term payments in them. They are not at all aware of the monch liquidity consequences for themselves and their family, “the minister added.

The biggest problems put people really contracts. And 43 percent of respondents confirmed that some zones were completely unreasonable. Of these people, half signed the contract without further inquiry.

“Not only do people not confuse and misunderstand, but they also cannot appreciate and confuse basic things. The young people should learn and learn in a round, they are responsible for their decisions in the family, “said Eva Zamrazilov, CEO and member of the bank board of the Czech National Bank.

Payment cards are also a problem

The number of issued payment cards increases from year to year. However, there is no difference between a debit and a credit card. According to a survey, most people have heard about debit / credit cards, but only 62 percent of them think they know the difference, in fact only 57 percent answered correctly.

The difference between a debit and a credit card is that the debit card is issued for personal use and draws on your own pension. Use the pension provided by the bank from the credit card, so you have an extra pension. The loan is then repaid to the bank, either in the current period, which is up to 55 days or later. But then pay for a year.

Finann literacy is dedicated to many banking institutions, some of which we informed about in the next article.

This project was created in cooperation with the Czech National Bank and the Ministry of Finance. Data collection for sociological research took place this year on a representative sample of thousands of respondents. The methodology is based on foreign experience and recommended by the OECD. The results of the survey will be used by the Working Group for Financial Education for proposals for specific measures in the field of increasing financial literacy.

Do you want to sign a contract before signing a financial product?

total vote:

The vote is over

they voted in
Monday, January 3, 2011. The poll is closed.

Yes, full.


Yes, but only zbn.


No, I’m just signing the contract.


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