EVALUATION OF FINANCIAL PARTICIPATION AND FINANCIAL KNOWLEDGE LEVEL OF INDIVIDUALS: AN APPLICATION IN THE ERZURUM PROVINCE

Financial participation, financial training, and protection of financial consumer are on the top agenda in the individuals’ relationship with financial system. Especially the financial participation and financial training constitute an important aspect of financial inclusion. Within the activity of financial inclusion, it is important to reveal the relationship between financial knowledge of individuals and financial participation levels by determining them. The main aim of this study is to determine both the level of financial knowledge and financial participation as well as the relationship between them. With this respect, a survey questionnaire that was developed by Organization for Economic Co-operation and Development (OECD) and that has been used in all over the world was used on 374 individual working in different jobs in Erzurum province. Difference and relationship analyses were applied on the data obtained. As a result of the study, it was concluded that the financial knowledge and financial participation level of individuals are low. Moreover, a statistically significant relationship was determined between the financial knowledge level and financial participation level of individuals. According to the research model, there was no significant relationship between financial information level changes and financial participation. In addition to the findings obtained in the study, recommendations were made so that financial inclusion activities can be increased