According to a report by the Center Inverco, on financial literacy and habits of Spanish saver, pension schemes have become one of the more savings products known by the Spanish Savers, along with deposits.
Thus, this report suggests that the higher savings capacity, the higher the product knowledge, “when you save, you can invest in financial products.
This study was conducted on a sample of 1,900 interviews, from which it appears that about half of the investors said to have a low awareness of investment funds and the stock market.
More specifically, almost 70% of savers claims to have an adequate knowledge of the deposits, investment funds, pension plans, stock exchange and insurance, compared to 53% of respondents who have a financial literacy environment and a 15% has a high knowledge.
Also, investors with high-saving are those who have more financial knowledge (23.6%).
As for age and sex of respondents, approximately six out of ten savers aged 18 to 54 years has a financial literacy medium and high, being over 65 years that usually have lower financial literacy. In high financial knowledge, men women twice, even if they have a higher average knowledge.
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