Alfabetizzazione finanziaria. Il contributo dell'esperienza

The aim of the paper is to test the existence of a strong relationship between the acquisition of financial literacy and financial experience, gained with the daily use of different products and services. Data are drawn by the 2008 Bank of Italy Survey on Household Income and Wealth.The research, through its results, aims to provide policymakers with indications to improve consumer protection in the financial services industry. Our findings show that financial literacy depends not only on the education level, or on the participation in training initiatives, but a relevant role is also played by financial experience.This result suggests the adoption of incentives on the use of financial and payment instruments, in addition to educational programs, in order to foster responsible consumer behavior.