| Abstract [eng] |
In this master’s thesis, special attention and analysis on youth financial knowledge and the importance of financial literacy for sustainability. The aim of this master’s thesis is to evaluate the literature and compile a research methodology in order to conduct a survey concentrated to Lithuanian youth aged 18 – 30. It will assist in identification of financial literacy of Lithuanian youth and to assess the importance of youth role for sustainable future development. The four objectives are: to examine the theoretical studies in the literature of financial literacy and sustainability concepts, challenges and problems at the international level; to systematise and summarise the knowledge and skills of international and Lithuanian youth financial literacy and young people able to apply their knowledge in practice; after conducting the survey to identify the practical application of Lithuanian young people's financial literacy knowledge and the importance it attaches to sustainability; to submit proposals for the implementation of the goals of raising the level of financial literacy and sustainability according to the obtained in literature review and research data. Methods used in this master’s theses: analysis of the literature, prepared and conducted survey research. The results of the survey have been analysed in various variable sections in order to obtain the most comprehensive results possible. Most respondents indicated that they plan their personal budget, but only a small proportion said they accumulate in pension funds. The analysis has shown that accumulation in pension funds is more relevant for older participants. Only 6% of young people said that they regularly save their money. However, only a small proportion of participants employ their accumulated money for investment, with the majority (44%) responding that they are holding money in a bank account. The most common reasons why respondents do not invest is that their income is too low, they do not see the need for it and have too little knowledge or confidence in it. More than half of those surveyed said that sustainability was important to them and that they were concerned about its social and environmental impact. The importance of financial literacy for sustainability has also been confirmed by the authors of the scientific literature in a number of studies. The study can be applied to further research highlighting the impact and importance of financial literacy on sustainability. |
