A Study Of Financial Literacy Measurement And Influencing Factors Among Xiangxi Residents

In recent years,with the development of the inclusive financial market,the development and marketing of financial products and services have rapidly increased.Financial decisions involved in the daily lives of residents are also increasing.Early financial literacy became the basis for residents' financial decisions faced with such many financial problems.Insufficient financial literacy residents are not only difficult to identify financial risks in daily financial decisions and affect personal well-being.They are even a serious problem for the country and society.Since the outbreak of the global financial crisis in 2008,financial literacy has attracted the attention of governments and scholars of various countries.Scholars from various countries has conducted many studies to find out the causes of the economic crisis.It is generally believed that the important reasons for the outbreak of the financial crisis is the disappearance of consumers' financial protection rights and insufficiency of consumer financial literacy.Only if residents have good capabilities in managing personal property,can they have a positive impact on the entire economy.This article focuses on the financial literacy measurement,assessment and influencing factors of residents in Xiangxi.Based on the domestic and foreign research and the regional characteristics of Xiangxi,we designed a questionnaire for financial literacy of residents in Xiangxi.Based on the financial literacy questionnaire survey data of residents in Xiangxi,this study empirically analyzes the financial literacy level and influencing factors of residents in Xiangxi.We found the following results: 1.The financial literacy level of residents in Xiangxi is at a medium level,and there is great room for improvement.2.Age,education,income,profession,profession field,household register,and region are important factors that affect the financial literacy of residents in Xiangxi.3.Residents in Xiangxi lack the knowledge of financial skills and investment.In order to improve the financial literacy of residents in Xiangxi,it is necessary to emphasize the promotion of financial skills and financial education in the investment field,focus on the vulnerable groups when improving financial services,and carry out targeted financial education.