Knowledge in Financial Education of Hondurans: Socioeconomic Factors influencing it in 2023

Abstract

This study aims to analyze the socioeconomic factors that affect the knowledge of financial education among Hondurans in 2023. A multiple linear regression model was employed based on a sample of 877 participants, considering variables such as age, income, educational level, gender, and area of residence. The findings revealed a significant relationship between knowledge of financial education and socioeconomic factors, except for gender. It was observed that higher income, educational level, and age correlate with better knowledge of financial education among Hondurans, with this effect being more pronounced in urban areas. The conclusions suggest that it is essential for authorities and the financial system to collect statistical data and conduct studies on the financial behavior of the population, which will allow for the design of more effective policies and strategies tailored to the needs and socioeconomic conditions of Hondurans. This study highlights the importance of establishing a baseline for financial education in the country to improve the economic well-being of the population