Financial literacy and educational level in Ecuadorian students: a structural analysis

Background Financial literacy has been recognized as a key competency for making in-formed economic decisions, particularly in contexts where access to financial products exceeds the population’s literacy level. However, in Ecuador, persistent gaps remain be-tween formal educational attainment and applied financial knowledge. In this context, the objective of this study was to analyze the relationship between educational level and financial literacy among Ecuadorian students. Methods A quantitative approach was adopted, with a descriptive-correlational level, non-experimental type, and cross-sectional design. The sample consisted of 2,021 participants, selected through non-probabilistic convenience sampling. A structured questionnaire of 33 items was administered, distributed across four analytical dimensions. Statistical analysis was performed using SPSS and AMOS, including reliability testing, factorial validity, and structural model fit. Results The results revealed that educational level has a significant effect on financial literacy. Individuals with higher education exhibited the highest levels, while those who completed only primary education showed the lowest. Four latent factors were validated: technical knowledge, socioeconomic impact of financial education, practical application of knowledge, and financial self-management. Conclusion The correlations between these factors were strong and statistically significant, highlighting the pivotal role of educational level in shaping financial literacy. The proposed model presents a valid and consistent structure, effectively reflecting the relationships between the key variables. These findings emphasize the necessity for tailored and context-specific educational interventions that address the diverse needs of different population segments, thereby enhancing financial literacy across varying educational levels.