| Abstract [eng] |
The main objective of the thesis is to determine the financial literacy of the population and its impact on financial well-being in the case of Lithuania and Georgia. The objectives of the thesis are: to explain the concept of financial literacy and financial well-being, to analyze the theoretical foundations of the impact of financial literacy on the financial well-being of the population, and to investigate the impact of financial literacy on the financial well-being of the population of Lithuania and Georgia. The final thesis consists of three parts. The first part of the thesis analyses the concept of financial literacy and financial well-being, discusses the factors that have an impact on the financial literacy and financial well-being of the population, and discusses the research that reveals the impact of financial literacy on financial well-being. The second part of the paper presents the methodology of the study, describes the research instrument, presents the characteristics of the study sample and the limitations of the study. The third part of the paper analyses the results of the study, revealing the impact of financial literacy on financial well-being of the Lithuanian and Georgia population. The methods of research used in the final work are: comparative analysis of scientific literature, systematization and generalization of theoretical material, quantitative research - a questionnaire survey, statistical analysis and generalization of the research data. Based on the analysis of scientific literature, a questionnaire is developed, which includes two scales: financial literacy and financial well-being scales. Demographic questions are also included at the beginning of the questionnaire to show the distribution of the results of the survey according to the socio-demographic characteristics of the respondents. The financial literacy scale includes the following variables: financial awareness, financial experience, subjective financial knowledge, financial skills, financial capabilities, financial goals, financial decisions and financial behavior. Financial well-being is also expressed in three dimensions, i.e. financial contingency preparedness, current money management stress and perceived financial security. The analysis of the survey results revealed that respondents save for emergencies but have less investment experience, regularly analyze economic and financial issues, and are not likely to write down where they spend their financial resources. Respondents assess their income and expenditure but pay less attention to risk management, make plans on how to spend their money, try to avoid credit, but rarely set long-term financial goals. The results of the survey show that respondents experience moderate levels of stress but agree that finances control their personal lives. Lithuanian respondents are more likely than respondents from Georgia to agree that they are unable to enjoy life because they are too worried about their finances. Respondents in both countries agree that they often worry about their personal finances, and that there are frequent situations that throw respondents off balance. |
