Study On The Influence Of Financial Literacy Of Urban Residents On Family Financial Decisions

The improvement of residents' income level has brought total household financial assets and the change of the structure,how to make a good family financial decision making to improve the configuration of household financial assets behind reflect the residents' financial knowledge level,education level,risk tolerance,namely the residents' financial literacy on the influence factors of the family financial decision making problem.The research on this problem can be expected to realize the appreciation of family wealth to improve the family's ability to cope with future financial risks and family financial crisis.First of all,the related literature at home and abroad has been sorted out.Secondly,by using the questionnaire survey data,the financial literacy of urban residents was measured from the subjective and objective paths,and the main influencing factors of financial literacy were analyzed by regression analysis.Third,in self-efficacy(self),on the basis of theory and behavior finance theory,from the subjective and objective two paths in theory respectively analyzed the urban residents' financial literacy factors influence mechanism of household financial decisions.Fourthly,through the empirical analysis,the author makes an empirical analysis of the influencing factors and tests the robustness of the empirical results.The results showed that the level of residents in our country financial literacy is generally low,lack of confidence in the financial decision-making,to scientific and reasonable use of financial tools to implement favorable family financial decision-making ability is insufficient;Education degree,income level,financial knowledge and skills are the main factors influencing financial decisions of households.Therefore,this paper suggests that the government should strengthen the public supply of financial knowledge,and financial institutions should effectively disseminate the dual identity of financial information while effectively playing their functions.At the same time,by means of education and training,the financial literacy of residents is improved,and the financial decision-making ability of workers is strengthened,so as to improve the income level of workers.