More than half of Poles (58 percent) have a basic level of knowledge when it comes to finance, but they are not able to say anything specific about individual financial products, according to a survey conducted by Millward Brown on behalf of Kruk.
“Our study showed that in terms of the level of financial education Italy has the biggest extremes. This may be due, among other things, to historical events. Compared to other countries surveyed Poland is on the European average. It’s a pretty good result, if we look at it in terms of the financial market development in our country. Of course, there is still much to be done in the framework of financial education of Poles. However, the picture that emerges from our study shows that at the current stage of development, our level of financial knowledge is sufficient,” said Agnieszka Salach, a representative of the group.
Only 3 percent of Poles declare they have a sound knowledge of finance, in contrast to 11 percent who said that they know nothing about finance.
Most people who declare a great knowledge of the world of finance live in Italy (6 percent). Second place was a tie between Germany and Spain. Third place in the ranking, together with the Czechia was occupied by Poland.
The survey was carried out in October 2016 using computer-assisted web interviewing (CAWI) on a representative sample of 7,000 adult citizens of Poland, Czechia, Slovakia, Romania, Germany, Italy and Spain (1,000 people per country).