Inclusion and financial literacy: The case of higher education student workers in Los Lagos, Chile

Abstract

This paper studied the relationship between financial inclusion and financial literacy among student workers of professional technical careers in Los Lagos, Chile. The specific objectives were to measure the association between literacy and financial inclusion, to analyze whether there is an inclusion advantage to being literate, and to evaluate the impact of financial literacy on inclusion. The sample consisted of 470 student-workers and the methodology included synthetic indicators, association indicators, and parametric and non-parametric statistics. The results indicate a positive and significant association between inclusion and financial literacy. In general, the literate obtain an inclusion advantage and a causal effect of behavior and knowledge of financial products on inclusion is observed, although from the global literacy.