Research On The Influence Of Financial Literacy On Family Financial Management Of Zhangjiakou Residents

With the continuous improvement of the income of our residents,since the central bank liberalized the spreads of deposits and loans,family wealth has gradually accumulated,but the actual rate of return of family wealth deposited in the bank is not as fast as the depreciation of currency.Therefore,our families increasingly need to seek scientific Financial decision-making realizes the preservation and appreciation of family wealth.And with the continuous improvement of medical standards,the average life expectancy has been extended,then each family needs to reasonably arrange consumption,savings and investment in the life cycle,and make long-term planning,which will provide financial literacy for each family and even the individual The level puts forward higher requirements.According to the changes in the number of household assets in international statistics,in the near future,the proportion of household financial assets in total assets will increase.Under this background,scholars from various countries have expressed their financial literacy The burden of the level.This article takes the residents of Zhangjiakou City as the research object,and explores the impact of financial literacy on family finance,which has important theoretical and practical significance for improving the level of financial literacy in the region and improving the family financial situation.Financial literacy can not only measure the financial asset allocation of residents in a region,but also affect many aspects of family finances.However,what aspects of financial literacy have an impact on family finances and to what extent are they in need of quantitative research.Statistical analysis of the data obtained by field surveys of the household financial status of residents in Zhangjiakou City,through the construction of financial literacy indicators to measure the financial literacy level of residents in Zhangjiakou City.This study focuses on the “financial literacy impact on the family finance of Zhangjiakou City residents”,using Probit model and Tobit model to conduct empirical research,and analyzes the financial literacy to Zhangjiakou city residents' family finance participation,family finance choice,family finance time span Impact.The results of the study show that financial literacy has a positive impact on Zhangjiakou's participation in family financial planning,family financial choices,and the time span of family financial management.For every increase in financial literacy,the probability of a family planning a family financial plan will increase accordingly.The higher the literacy,the more choices of various financial management methods;each time the financial literacy increases by one unit,the family financial management time span will also change.Financial literacy is indeed an important factor influencing the financial management of households,so improving the level of financial literacy is crucial to improving the current status of household financial management.Finally,starting from the research results and reality,we put forward feasibility suggestions to improve financial literacy and optimize residents' financial management methods.