Financial literacy and shopping behaviour

Research background: Financial literacy has been a topic of discussion in recent years. The concept of financial literacy can be understood as knowledge of financial concepts, but above all as the ability to be able to orientate in the financial market, the ability to manage funds or financially secure oneself and one´s family. It is also the ability to properly distribute household expenses or secure income. In our case, we want to look at the level of financial literacy in connection with the shopping behaviour of the population. Originally, the survey focused on Slovakia and Poland, but since we did not manage to obtain a sufficient number of responses from the Polish side, we will focus primarily on the survey in Slovakia and only point out the results achieved in Poland. In addressing this issue, we relied on already existing globalsurveys, which point to a low level of financial literacy. One of the surveys involves the OECD, which tests pupils aged 15 in certain countries at regular intervals. The Household Finance and Consumption Survey targets people over the age of 18 and tests people in multiple countries. We also conducted surveys that would point out the purchasing behaviour of the population of Slovakia during the COVID-19 pandemic, one of which was carried out by the TASR agency. Purpose of the article: The aim of the paper is to point out the current state of financial literacy of the population in Slovakia in relation to shopping behaviour and to outline recommendations for strengthening financial literacy. Methods: Various methods are used in the paper. By analysing the existing surveys, we determined the assumptions of the survey. Subsequently, using a questionnaire survey, we determined the level of financial literacy. We also used mathematical and statistical methods in the evaluation. Subsequently, by synthesizing the acquired theoretical knowledge and survey results, we outlined possible measures to improve financial literacy in Slovakia. Findings & Value added: The results of the survey can be used as a basis for work in the field of financial literacy and its constant increase.