Determining the level of financial literacy and its socioeconomic importance: The case of Bilecik

In the 21st century, rapidly changing market conditions, product diversity, technological developments, innovations in financial markets and changes in operations have an impact on the financial decisions of individuals. This situation mostly affects individuals who do not have sufficient knowledge about financial matters and over time, it leads individuals to make financial mistakes. This situation affects the country's economy negatively. For this reason, it is important for the individual to have sufficient knowledge about financial literacy in order to be able to make correct, conscious and reliable decisions in financial matters. This study was mainly prepared to determine the financial literacy level of Bilecik province. In determining the level of financial literacy, it is aimed to determine the difference between financial attitudes and financial behaviors according to demographic factors. In the study, the results of the questionnaire directed to 600 people were analyzed with the SPSS program. By applying the T-test and Anova Test, the level of knowledge of the respondents about financial instruments was measured, and the level of individuals benefiting from these financial instruments was expressed in the study. As a result of the analyzes made; While determining the level of use of financial instruments by the participants, it is seen that there is a significant difference in exchange rate, private pension, mutual fund and mortgage variables in terms of gender. When we examine in terms of the level of utilization from financial instruments, it has been observed that women benefit from financial breaks more than men in the variables of private pension, mutual fund, mortgage, bank-guaranteed loan, unsecured loan, credit card, micro-credit and bond variables, except for the prepaid card variable.