Brazilians’ financial literacy: Where are the differences?

Financial literacy has gained global relevance and is recognized as one of the primary antecedents of financial well-being. In this context, we aimed to provide a comprehensive assessment of financial literacy among Brazilian citizens by examining its three core dimensions (financial behavior, financial knowledge, and financial attitude) and analyzed how these dimensions vary across socioeconomic and demographic characteristics. For this, we conducted a survey with 1135 respondents. The results indicate that financial behavior is the most prominent dimension of financial literacy, suggesting that individuals' actions and daily financial practices play a central role in shaping overall financial capability. Significant differences in financial behavior and financial knowledge were identified across socioeconomic groups, particularly regarding marital status, race and ethnicity, occupation, and income. These findings highlight the extent to which structural and demographic factors are associated with individuals' opportunities to understand and effectively manage financial matters. Conversely, no significant differences were observed for financial attitude, indicating that individuals’ predispositions or orientations toward financial decisions may be relatively stable across different profiles. Overall, this study emphasizes the importance of adopting differentiated strategies to address gaps in financial literacy among distinct socioeconomic and demographic groups. Tailored educational initiatives and inclusive public policies may contribute to reducing financial illiteracy and promoting more equitable access to financial knowledge and resources. These findings support the development of targeted interventions to foster financial well-being and informed decision-making.