The Relationship Between Financial Literacy and Consumer Purchasing Behaviour in Slovakia
The Relationship Between Financial Literacy and Consumer Purchasing Behaviour in Slovakia

Summary/Abstract: Research background: The growing complexity of financial products, the rapid expansion of digital marketplaces, and the rising influence of targeted marketing have significantly increased the importance of understanding financial literacy as a determinant of consumer behaviour. In many European countries, including Slovakia, financial literacy is closely linked to individuals’ ability to make informed and responsible purchasing decisions. Examining this relationship is crucial not only for consumer protection but also for the development of effective educational initiatives. Financial literacy influences how individuals manage income, evaluate risks, and respond to marketing and consumption trends. Although demographic factors and education can shape financial behaviour, evidence from Slovakia remains relatively limited. Purpose of the article: The aim of this paper is to analyse the relationship between financial literacy and consumer purchasing behaviour in Slovakia and to identify which demographic or behavioural variables significantly affect financial decision-making. Methods: A quantitative survey was conducted from December 2024 to March 2025 on 405 respondents recruited via social media and QR codes. It covered demographics, financial literacy, spending habits, and shopping preferences. Three hypotheses on the influence of gender, education, and advertising exposure were tested using the Chi-square test, with Cramer’s V assessing the strength of significant relationships. Findings & Value added: The results show that education level significantly influences financial literacy, while gender, loan experience, and advertising exposure do not. Higher financial literacy is associated with more efficient spending and deliberate purchasing decisions. The study provides new empirical evidence on the determinants and behavioural effects of financial literacy in Slovakia, highlighting the importance of improving financial education and practical digital competencies.

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