FINANCIAL EDUCATION: IMPACT ON PERSONAL FINANCIAL LIFE AND ITS CONTRIBUTION TO THE NATIONAL ECONOMY

Abstract

This research investigates the importance of financial education for personal lives and a country's economy. Through a quantitative study with students from the State University of Rio de Janeiro (UERJ), divided between those with and without financial education knowledge, the impact of this knowledge on financial management practices was analyzed. The results indicate a significant improvement in financial behavior among individuals with some level of financial education. After acquiring knowledge, there was a substantial increase in organized financial control and a reduction in the default rate. Furthermore, many participants began saving and investing, improving expense control, reducing debt, and enhancing retirement planning. In contrast, the group without financial knowledge showed high rates of financial disorganization and default, with a low ability to save and invest. These data highlight the urgency of financial education to empower the population to manage their finances efficiently. It is concluded that financial education is essential to promote effective financial management, reduce default, and encourage savings and investment. The implementation of financial education programs should be a priority to ensure the economic stability and financial well-being of the population, contributing to the sustainable development of society.