Vlasta Bahovec|Dajana Barbi?|Irena Pali?
Testing the effects of financial literacy on debt behavior of financial consumers using multivariate analysis methods
University of Zagreb|University of Zagreb|University of Zagreb
aim paper threefold first detect categorize croatian financial consumers financial literacy analyze whether different levels financial literacy statistically significant terms sociodemographic characteristics second objective determining whether respondents debt behavior differs based financial literacy paper aims examine sources different debt behavior relation financial literacy cluster analysis used categorize financial literacy determine whether respondents financial literacy differs due gender level disposable income nonparametric chisquare test applied effects financial literacy debt behavior investigated using rankbased nonparametric test specifically kruskal wallis h test finally paper examine source differences debt behavior based different levels financial literacy post hoc analysis using dunnetts c test conducted results suggest respondents exhibit different debt behavior due different levels financial literacy addition level disposable household income per household member found statistically insignificant respect different levels financial literacy levels found statistically significantly different compared respondents gender