Exploratory study on financial competencies in a sample of Venezuelan professionals
DOI:
https://doi.org/10.55560/arete.2026.23.12.1Keywords:
Financial skills, financial education, Venezuelan professionals, financial planning, economic decision-makingAbstract
The objective was to assess the level of financial literacy among Venezuelan professionals. Despite their university education, they face complex economic decisions in a highly volatile environment. Quantitative field research was conducted, using the "Financial Competencies" instrument with 136 professionals (aged 20-79). The questionnaire assessed basic knowledge and understanding of savings, insurance, and debt products, their ownership and use, and planning and risk management behaviors. The analysis used descriptive statistics, nonparametric tests (chi-square) to explore the relationship between variables and logistic regression analysis. The results reveal, among the study group, significant gaps in understanding inflation and compound interest, limited diversification in specialized financial products, poor budget planning, and poor contingency preparedness. Although a majority recognizes the impact of inflation, critical misconceptions persist. There is a high dependence on cash for savings, and professionals with expenses that exceed income resort to savings or informal credit. Notably, 84.4% expressed interest in financial education, underscoring the perceived need. These findings suggest that higher education does not guarantee financial literacy per se, making it imperative to develop specific programs to strengthen these skills in the Venezuelan context. These findings, applicable to the sample studied, suggest that higher education does not guarantee financial literacy per se, which highlights the relevance of developing specific programs to strengthen these skills.
Downloads
References
Agarwal, S., Driscoll, J. C., Gabaix, X., y Laibson, D. (2009). The Age of Reason: Financial Decisions Over the Life-Cycle with Implications for Regulation. Brookings Papers on Economic Activity, Fall, 51-117. https://dx.doi.org/10.2139/ssrn.973790
Álvarez-Sepúlveda, H. A. (2024). Educación Financiera para la Ciudadanía: Desafíos y Perspectivas en el Contexto Chileno. Revista Tecnológica-Educativa Docentes 2.0, 17(1), 18-24. https://doi.org/10.37843/rted.v17i1.441
Bravo, G., Garay, U. y Guevara, E. (2022). Educación financiera: una asignatura pendiente en Venezuela. Debates IESA. https://shre.ink/oU3i
Bucher-Koenen, T., Lusardi, A., Alessie, R., y van Rooij, M. (2017). How Financially Literate Are Women? An Overview and New Insights. Journal of Consumer Affairs, 51(2), 255-283. http://dx.doi.org/10.2139/ssrn.2585187
Cadenas, D. (2021) Estimación del circulante en dólares en Venezuela mediante un modelo de series temporales. Almanaque, 38, 35-50. https://doi.org/10.58479/almanaque.2021.33
Cedeño Ávila, G. M., Naranjo Vaca, M. J., Gavilanes Sagñay, M. A., y Toscano Guerrero, F. E (2025) Financial literacy levels and their influence on the entrepreneurial aspirations of residents of the Flores parish, Riobamba - Ecuador 2024. Salud, Ciencia y Tecnología - Serie de Conferencias, Vol.4. https://doi.org/10.56294/sctconf20251586
Echarte-Fernández, M.A., Martínez-Hernández, M., y Zambrano, O. (2018). Un análisis de la crisis económica de Venezuela desde los postulados de la Escuela Austríaca de Economía. Revista Lasallista de Investigación, 15(2), 68-82. https://doi.org/10.22507/rli.v15n2a5
Finke, M. S., Howe, J. S., y Huston, S. J. (2017). Old Age and the Decline in Financial Literacy. Management Science, 63(1), 213-230. https://doi.org/10.1287/mnsc.2015.2293
Giordano, C. C., Kistemann Junior, M. A. Oliverira, P. C. y Haetinger, C. (2023). Educação financeira e resolução de problemas na proposta curricular brasileira. Areté. Revista Digital del Doctorado en Educación. 9(18), 11 – 36. https://doi.org/10.55560/arete.2023.18.9.
Grifoni, A., Mejía, D., Morais, S., Ortega, S., y Roa, M. J. (2020). Estrategias nacionales de inclusión y educación financiera en América Latina y el Caribe: retos de implementación. OCDE y CAF. https://scioteca.caf.com/handle/123456789/1605
Lara Serna, L., Lara Menéndez, A., Hernández González, D. F., y Sosa Morales, E. (2024) Construyendo Futuros Emprendedores: La Importancia de la Alfabetización Financiera en la Educación Universitaria. Estudios y Perspectivas Revista Científica y Académica, 5(1), 28–52. https://doi.org/10.61384/r.c.a.v5i1.802
López-Lapo, J. L., Hernández Ocampo, S. E., Peláez Moreno, L. E., Sarmiento Castillo, G. del P., Peña Vélez, M. J., Cueva Jiménez, N. C., & Sánchez Loor, J. P. (2022). Educación financiera en América Latina. Ciencia Latina Revista Científica Multidisciplinar, 6(1), 3810-3826. https://doi.org/10.37811/cl_rcm.v6i1.1770
Lusardi, A., y Mitchell, O. S. (2011). Financial literacy around the world: an overview. Journal of Pension Economics & Finance, 10(4), 497-508. https://dx.doi.org/10.2139/ssrn.1810551
Lusardi, A., y Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 52(1), 5-44. https://dx.doi.org/10.2139/ssrn.2260193
Monasterio-Pérez, J., Briceño-Marcano, M., y Moreno-Meza, G. (2022). Inclusión de los contenidos de Educación Financiera en los programas académicos del sistema educativo venezolano. Investigación y Postgrado, 37(1), 37–65. https://doi.org/10.56219/investigacinypostgrado.v37i1.20
Montaña, Virginia, y Ferrada, Luz María. (2021). Alfabetización financiera: Un Desafío Pendiente en la Educación Técnica Superior. Revista de estudios y experiencias en educación, 20(44), 126-148. https://dx.doi.org/10.21703/07185162.v20.n43.2021.008
Mungaray, A., González, N., & Osorio, G. (2021). Educación financiera y su efecto en el ingreso en México. Problemas del desarrollo, 52(205), 55-78. https://doi.org/10.22201/iiec.20078951e.2021.205.69709
OECD (2016), OECD/INFE International Survey of Adult Financial Literacy Competencies, OECD Publishing, https://doi.org/10.1787/28b3a9c1-en
Ruíz Cortez, P., y Cerrud Álvarez, F. (2024). Relevancia e Impacto de las Finanzas Personales en los Estudiantes Universitarios en Panamá. Ciencia Latina Revista Científica Multidisciplinar, 7(6), 5806-5820. https://doi.org/10.37811/cl_rcm.v7i6.9119
Villada, F., López-Lezama, J.M., & Muñoz-Galeano, N. (2017). El Papel de la Educación Financiera en la Formación de Profesionales de la Ingeniería. Formación universitaria, 10(2), 13-22. http://dx.doi.org/10.4067/S0718-50062017000200003
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 María Elizabeth Teixeira – Pita
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This journal provides free, immediate access to its content under the principle of making research freely available to the public, which fosters a greater exchange of global knowledge.
Authors who publish in Areté, Revista Digital del Doctorado en Educación, agree to the following terms:
- Authors retain copyright and grant the journal the right to be the first publication of the work, as well as licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of authorship of the work and initial publication in this journal.
- Authors may separately establish additional agreements for the non-exclusive distribution of the version of the work published in the journal (for example, placing it in an institutional repository or publishing it in a book), with an acknowledgement of its initial publication in this journal and not to be used for commercial purposes.
- The contents and images included in the articles are the responsibility of the author(s). Areté, Revista Digital del Doctorado en Educación, is not responsible for the information included in them.
- Authors agree with the license of use used by the journal, with the self-archiving conditions and with the open access policy.
- Authors are allowed to disseminate electronically (e.g., in institutional repositories or on their own website) the published version of their work, as it favors its earlier circulation and dissemination and thus a possible increase in its citation and reach among the academic community.
- In case of reuse of published works, the existence and specifications of the license of use must be mentioned, as well as the authorship and original source of publication.
