ATTITUDES TOWARDS MONEY, FINANCIAL LITERACY AND ECONOMIC SOCIALIZATION

Economic socialization as a socialization process starts at an early age in the family. The results of economic socialization are largely affected by adults, who pass on their experience, attitudes and opinions to their children. Therefore, the authors of the present study focus on the behaviour and attitudes of adults who already have children but also adults without children who are expected to pass on their opinions and attitudes to their children in the future. Specifically, the authors focused on the assessment of financial literacy (FL), attitudes towards money (MES), and attitudes to pocket money paid to children (AP). The survey included a total of 112 Czech men and women aged 18 to 64 years. Other significant demographic variables monitored in the study were number of children (more than 70% of the sample had one or more children), marital status, education, and employment. The data were obtained by means of questionnaire methods focusing on financial literacy (FL), attitudes towards money (MES), and pocket money given to children (PA). The majority of the sample (over 80%) considered money a good and useful tool in life and believed that they themselves were able to use money effectively. In issues associated with FL, men showed greater knowledge. In some FL issues, almost 50% of participants admitted absolute lack of knowledge. In other aspects, there were no statistically significant differences between men's and women's attitudes. Similarly, age seems to have no significant effects on the opinions about and attitudes towards money. Almost 70% of participants agreed with paying pocket money to children and 30% believed it was a good idea to increase pocket money every year.