Financial Knowledge and Its Relationship with Sociodemographic Variables: A Study in Adolescent Students in a Public Institution

The purpose of the study focuses on analyzing the savings decision by basic school students and its relationship with gender, age, number of siblings, as well as financial education variables from their personal and family environment.For this, the working hypotheses are H1.The decision to save is related to the sociodemographic characteristics of the respondent (sex, age, number of siblings).H2.The decision to save is related to financial education variables of the personal and family environment of the student surveyed.The participants are first grade students at the secondary level, between 10 and 17 years of age.Using non-probabilistic self-determination sampling, an instrument designed by Barba (2018) was applied to collect data, obtaining 313 cases.Considering that they are under age, they had the approval of their parents at all times, being notified through the teachers in charge of the school groups.The scale was applied over 2 months in person in the educational institution, with the support of the teaching staff.First, the frequencies of each of the items are obtained and then to test the hypotheses, we use a dichotomous Logit econometric model.The main findings demonstrate a relationship between the savings decision and the number of siblings the student has.Likewise, the decision to save is related to financial education variables of the personal and family environment of the student surveyed.The results emphasize the role that the family environment has in young people's savings decisions.Therefore, we suggest promote financial education from home to encourage learning about financial education at an early age.