Since 2012, financial authorities in Korea have been conducting a “National Financial Literacy Survey” every other year to measure the financial literacy levels of adults. The survey is aimed at people aged 18 to 79. It looks into their basic financial knowledge, financial behavior, and attitudes towards consumption and savings.
According to the 2022 results, the financial literacy of individuals in their 30s to 50s appeared higher compared to other age groups. Also, those with higher income levels and education tended to have higher financial literacy. But the proportion of people with long-term financial goals was relatively low. The most important financial goals were found to be housing purchase, marriage funds, retirement planning, and education expenses, in that order.
Cutting-edge digital technologies are being integrated into finance these days. Meanwhile, cybercrime is becoming increasingly sophisticated, so the importance of overcoming financial illiteracy is even more critical.
literacy - knowledge of a particular subject, or a particular type of knowledge
in that order - the sequence in which things are mentioned is important and should be followed as specified
sophisticated - machine, device, or method is more advanced or complex than others
diversified - investing money in many different industries, activities, countries, etc.
우리나라 금융당국은 2012년부터 성인의 금융이해력 수준을 측정하기 위해 격년으로 '국민 금융이해력 조사'를 실시하고 있다. 18세 이상 79세 이하 국민을 대상으로 기초 금융 지식, 금융 행동, 소비와 저축에 대한 태도 등을 조사한다.
2022년 조사 결과에 따르면 30~50대의 금융이해력이 다른 연령대에 비해 높은 것으로 나타났다. 아울러 소득 수준과 학력이 높을수록 금융 이해력이 더 높은 편이었다. 그러나 장기적인 재무 목표를 가진 사람들의 비율은 상대적으로 낮게 나타났다. 가장 중요한 재무 목표는 주택 구입, 결혼 자금, 노후대비, 교육비 순이었다.
요즘은 최첨단 디지털 기술이 금융에 접목되고 있다. 한편 사이버 범죄는 점점 더 교묘해지고 있어 금융 문맹 극복의 중요성은 더욱 커지고 있다.
- People’s attitudes towards consumption and savings change as they get older. / I try not to judge younger people’s attitudes towards consumption and savings.
- Cutting-edge digital technologies are used in cars these days. / The company is known for developing cutting-edge digital technologies.
- Manufacturing techniques are becoming increasingly sophisticated. / Cameras in mobile devices have become increasingly sophisticated.
A: I recently participated in the nationwide financial literacy survey.
B: I think I’ve heard of that before.
A: It was comprised of questions about financial knowledge, like inflation, compound interests, and diversified investment.
B: Wasn’t it difficult?
A: It made me realize I need to pay more attention to various financial instruments.
B: Of course. It’s easy to fall behind the times if you don’t pay attention.
