Determining the financial literacy of business owners: A case study of Mugla city

It is important for individuals to have knowledge about how the financial system they are in, to increase savings, to make correct investment decisions and to manage all kinds of risks that may be encountered in the banking system. In this sense, interest in increasing the financial awareness of individuals is increasing day by day. Financial literacy has become a problem that concerns all segments of the society. The purpose of this study is to what level are the financial literacy levels of tradesmen? seeking an answer to the question. In the light of this question, hypotheses have been proposed to analyze whether there is a significant relationship between demographic variables and financial literacy levels. Questionnaire consisting of 39 questions in total was applied to 90 tradesmen in Muğla Center District to determine their financial literacy levels and financial education. As a result of the study, the financial literacy level of the tradesmen was found to be low with a rate of 54.4%. They are aware that their financial literacy levels are low. It has been revealed that individuals want to get training mostly in money and budgeting, which is one of the basic financial issues, and on investment in stock markets, on advanced financial issues. Participants also prefer face-to-face training.