Author:
Németh Erzsébet, ,Kálmán Botond-Géza,
Abstract
In 2018, the Money Compass Foundation has published an online financial personality test for 12-14 year olds in Hungary. Completion is voluntary, and after completing the test, respondents receive an immediate assessment of their financial personality traits based on a predefined framework. The purpose of the testing is to learn about and develop young people's self-knowledge and financial awareness. The evaluation highlights the beneficial behaviours of the respondent and draws attention to the areas where the achieved results can be further improved. The test was completed by 15,933 respondents until February 2022. In Part I of the study, the authors examine the internal consistency of the four pre-defined financial personality structures - Frugal, Diligent, Conscious and Moderate - built up from the questions in the questionnaire.
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