A research about the evolution of financial literacy level: The example of academics in Dicle University

Individuals need the necessary knowledge in order to better manage the positive or negative consequences that may occur in the face of increasing financial instruments. Individuals must have financial literacy in order to make the right decisions. As the level of financial knowledge increases, the financial decisions of individuals will be healthier. This study was conducted for academicians working at Dicle University in order to determine the level of financial literacy, and the study was a survey study and applied to 206 academic staff. The importance of the study is increasing due to the relatively insufficient number of studies in which the main population is academic staff. Demographic characteristics affecting the financial literacy levels of academic staff were analyzed with the SPSS program. As a result of the study, it was examined whether there was a statistically significant difference between the financial literacy levels of academicians and demographic characteristics (gender, age, title and marital status) and the affecting variables. The financial literacy levels of male academicians were higher than female academicians and a significant difference was found between them. No significant difference was found between age groups, title, marital status and financial literacy level. There was also a significant difference between the current finance area and the general success levels. The average financial literacy success level of the academicians was found to be 66,52%, resulting in above the average. It has been observed that while the academicians have the most information about financial literacy, retail banking and the following current financial issues, the area they have the least knowledge about is investment. Keywords Financial literacy, The importance of financial literacy, Financial literacy, Financial knowledge, Financial education, Financial instruments