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December 2, 2019

At almost 50 years from the first of the Christmas bonus mandatory in Mexico

At almost 50 years from the first of the Christmas bonus mandatory in Mexico, the note gives recommendations for using it, and safety and self-control tips for the financial health of workers in Mexico who receives this bonus.

September 19, 2016

The self-confidence effect on financial acumen

The formation of a new government in Spain and the current composition of Congress, where no party has a clear majority, has left Spaniards wanting the political parties to reach a consensus on the important issues of the day.

October 15, 2014

The effect of self-confidence on financial literacy

This study analyses whether self-confidence affects financial abilities of young people in Spain, through financial literacy. We use data from the Programme for International Student Assessment (PISA) Financial Literacy (2012) report, conducted by the OECD. Our hypothesis is that non-cognitive factors are important to establish young people’s financial literacy. Financial knowledge, together with other personal attitudes, determines people’s financial behaviour. We focus on the role of self-confidence in four dimensions. First, the student’s self-confidence in the environment of their college; second, self-confidence referring to the utility found at school; third, self-confidence in relation to the results obtained; and finally, self-confidence in a broader sense. Our multi-level estimates show that students with higher levels of self-confidence score higher in financial literacy tests, whatever the dimension considered. Beyond the individual’s inherent characteristics, there are other factors such as maturity, gender, socio-economic characteristics and the surroundings, which also influence financial literacy. JEL: I00, D83, C81