A deep dive into financial confidence of romanians: drivers and blockers who shape financial perception
DOI: https://doi.org/10.3846/jbem.2026.28115Abstract
This paper investigates the predictors of perceived financial knowledge among the adult population in Romania, using a multivariate logistic regression model based on data collected through a nationally representative survey conducted in early 2023. The following predictors were analyzed: real financial knowledge, socio-demographic and economic factors (age, education, income, gender, region), financial resilience (ability to cover major expenses), financial fragility (concerns about regular expenses), and financial behavior variables (affordability consideration). The findings reveal that the Romanians’ perceived financial knowledge is positively associated with real financial knowledge, higher education levels, younger age (18–39), and financial resilience, particularly the ability to cover major expenses without external help. Conversely, individuals from economically less developed regions, with lower household income and lower education levels recorded lower odds of reporting higher perceived financial knowledge. The study emphasizes the need for targeted financial education programs adapted to the specific needs of different population segments, and recommends a collaborative approach between public authorities, the private sector, and NGOs to enhance financial resilience and well-being in Romania. In the study, comparative references to other countries are included to provide contextual discussion.
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self-assessed financial knowledge, subjective financial knowledge, perceived financial education, perceived financial literacy, objective financial knowledge, logit regression, surveyHow to Cite
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Copyright (c) 2026 The Author(s). Published by Vilnius Gediminas Technical University.
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