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Source: Journal Citation ReportsTM from ClarivateTM 2022

Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2022) 1.7
Journal Citation IndicatorTM (2022) 0.42
Received: 2021-08-18  |  Accepted: 2021-10-10  |  Published: 2021-12-30

Title

Building financial literacy during the COVID-19 pandemic


Abstract

The main objective of the present research is to identify importance of financial literacy is growing in such economically and socially difficult situations. The aim of the study was to find out how a COVID-19 pandemic affects people's decisions regarding personal financial management in Latvia. The research is based on the analysis of the theoretical literature and quantitative analysis based on structured questionnaire was used to obtain empirical data. Empirical data processing and analysis were carried out in SPSS statistical package. The article findings trends, in Latvian households before COVID-19 over the last decade, the risk of poverty has increased convincingly certain groups in society. Affected by pandemic people's shopping habits have changed. Pandemic time led to changes in consumer attitudes and behavior, society's lifestyles and on the financial position of households. Under the restrictions imposed on preventing epidemic spread, household consumption decreased and create unplanned savings. Savings ensure the financial stability of households during the economic downturn.


Keywords

COVID-19, savings, consumption, Latvians' personal finance


JEL classifications

D10 , D14


URI

http://jssidoi.org/jesi/article/915


DOI


Pages

289-302


Funding

This research is conducted within the National Research Program "reCOVery-LV", VPP-COVID-2020/1-0010

This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Ciemleja, Guna
Riga Technical University, Riga, Latvia http://www.rtu.lv
Articles by this author in: CrossRef |  Google Scholar

Kozlovskis, Konstantins
Riga Technical University, Riga, Latvia http://www.rtu.lv
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

9


Number

2


Issue date

December 2021


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 2649  |  PDF downloads: 804

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