Czechs’ financial literacy slightly improved last year

Czechs’ financial literacy slightly improved last year, according to an annual survey commissioned by the Czech Banking Association. According to the index, Czechs picked up 56 points out of a possible 100, compared to 55 in the previous year.

The survey also suggests that there are significant differences in financial literacy based on the respondents’ education. While those with a university degree scored an average of 62 points, those with a primary school education or an apprenticeship certificate only scored 48 points.

According to the survey, three-quarters of Czechs say the current high inflation threatens their family budget. At the same time, about two-fifths of people do not plan to take any measures to protect their finances from inflation.