Capacitación e comportamento financeiro da xeración millennial en España

  1. Álvarez Espiño, Marcos 1
  2. Fernández-López, Sara 1
  3. Rey-Ares, Lucía 2
  4. Castro-González, Sandra 3
  1. 1 Universidade de Santiago de Compostela – Facultade de Ciencias Económicas e Empresariais
  2. 2 Universidade da Coruña – Facultade de Humanidades e Documentación de Ferrol
  3. 3 Universidade de Santiago de Compostela – Facultade de Administración e Dirección de Empresas de Lugo
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Journal:
Revista galega de economía: Publicación Interdisciplinar da Facultade de Ciencias Económicas e Empresariais

ISSN: 1132-2799

Year of publication: 2020

Volume: 29

Issue: 3

Pages: 107-127

Type: Article

DOI: 10.15304/RGE.29.3.7045 DIALNET GOOGLE SCHOLAR lock_openDialnet editor

More publications in: Revista galega de economía: Publicación Interdisciplinar da Facultade de Ciencias Económicas e Empresariais

Abstract

Individuals’ financial capability, resulting from the combination of the financial literacy they have and the opportunity to access financial products, is a challenge in today's societies and, particularly, for certain population groups such as the millennial generation. For this reason, it is important to study the financial capability of millennials and to validate whether there are differences regarding that of preceding generations. After the literature review, the empirical analysis is carried out using a sample based on the Survey of Financial Competences (SFC). The sample is composed of 6,852 non-retired individuals under 65 years of age, of which approximately 34% are millennials. Descriptive and econometric analyses are based on this sample. However, financial inclusion is more related to the financial behaviours of respondents. This relationship is clear, regardless of the generational cohort analysed, in the delay in payments, the maintenance of emergency funds and the financial planning horizon. It is also found that the correlation of some behaviours with financial literacy is more similar between millennials and non-millennials than when the former is compared with their peers. This research contributes to the existing financial literature through the analysis of the financial capability of the Spanish millennial generation and the analysis of how this capability influences its financial behaviour. In this sense, the research brings empirical evidence to a field of study in which there is hardly any reference that goes beyond descriptive analyses focused on AngloSaxon contexts.

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