Presentation of results of financial and digital literacy survey of households 2023

Published: 7/6/2023
Presentation of results of financial and digital literacy survey of households 2023

The Croatian National Bank (CNB) and the Croatian Financial Services Supervisory Agency (HANFA) presented today the results of the third financial literacy survey in the Republic of Croatia. The objective of the survey is to collect information on financial behaviour, attitudes and financial knowledge of Croatian citizens.

The average score on financial literacy of citizens is 12 of the maximum 20 points or 60%, slightly better than in the previous survey (59%). The overall score is a combination of financial knowledge, attitudes and behaviour necessary for making good financial decisions and eventually achieving individual financial well-being.

The comparison with the two previously conducted surveys (2016 and 2020) shows that the financial knowledge of citizens is constantly improving, from 60% (2016) and 65% (2020) to 70% in 2023.

A better result has been achieved in the component of financial attitudes or the attitude towards the money, while the average score of citizens’ financial behaviour fell from 56% to 53%. For the first time this year digital financial literacy was also measured. It includes questions on the knowledge of digital technologies, behaviour and attitudes related to the behaviour in the digital world. The average score of the digital literacy of Croatian citizens is 4.87 of the maximum 10 points, where the best result was achieved in the digital behaviour component.

“The CNB continually implements activities related to raising the level of financial and economic literacy. The most recent survey on overall financial literacy has shown improvement in knowledge, however, there is clearly room for further significant improvement. As a society, we will have to pay particular attention to raising the level of digital financial literacy of households as it is evident that this segment of financial services is becoming ever more present. The CNB also has experience in holding education for teachers and will continue to engage in such activities and support the strengthening of financial literacy through the educational system,” said the CNB Governor Boris Vujčić.

“The latest survey has shown that our educational activities yield modest but important results and advancements in the level of financial literacy. For us, as the non-banking financial sector regulator, it is particularly important that citizens learn to the largest possible extent how to protect themselves from investment risks, plan their pensions financially on time and protect themselves from financial fraud. We would like to motivate them to inform themselves adequately before contracting services, to compare services, get the best quality for their money and not to lose it in the cases of attempted fraud or a misjudged investment. HANFA will intensively continue with education because financial markets are developing rapidly and Croatian citizens will be appropriately protected through EU regulations and ongoing education,” said Ante Žigman, President of the Board of HANFA.

“The pandemic, the aggression against Ukraine and their consequences, as well as the earthquake, reminded us that at any moment we may face crises that could test our financial resilience. It is an opportunity to learn from our own mistakes, to enter a new cycle enriched by negative experience that can help us improve our financial behaviour, at least in some segments, and become aware that laid-back attitudes toward personal finance, such as 'I live for the moment', are are misleading and missing the point,” said Bojan Fras, CNB Vicegovernor.

A round table under the title “Survey results – how to improve financial literacy?” was also held during the conference. The participants included Martina Primorac Krmpotić, teacher at the Tourism and Hotel Management School in Zagreb, Ivana Žepić, Head of Sector for Financial Markets and Financial Literacy at the Ministry of Finance, Ivana Herceg, Head of Systemic Risks and Consumer Protection Division at HANFA and Bojan Fras, CNB Vicegovernor.

The population survey was conducted by IPSOS plus agency on a sample of 1,000 respondents (18 – 79 years of age). The survey was conducted based on the Organization for Economic Cooperation and Development (OECD) methodology. In 2022, the Republic of Croatia began official negotiations for the accession to the OECD as a fully-fledged member. Nevertheless, the CNB and the Ministry of Finance of the Republic of Croatia have already been cooperating with the OECD for a long time. The largest benefit of conducting the survey according to the standardised methodology adopted by the OECD is the opportunity to compare previous surveys conducted within the same country and the comparison with other countries.

The most recent survey in 2023 included financial and digital literacy. The components of financial literacy include financial knowledge, financial behaviour and financial attitudes, i.e. attitudes towards money.

Main survey results:


2023 survey

2020 survey

2016 survey

OVERALL – Financial literacy

12/20 or 60%

12.3/21 or 59%

11.8/21 or 56%

Financial knowledge

4.9/7 or 70%

4.5/7 or 65%

4.2/7 or 60%

Financial behaviour

4.7/9 or 53%

5.0/9 or 56%

4.6/9 or 51%

Financial attitudes

2.4/4 or 59%

2.8/5 or 56%

3.0/5 or 60%

OVERALL – Digital financial literacy

4.9/10 or 49%


Digital knowledge

1.2/3 or 39%


Digital behaviour

2.2/4 or 56%


Digital attitudes

1.5/3 or 49%