A gap that is also found in the average age, higher for the Italian population, and for less use of the internet and e-commerce. Also in this survey, which involved 3,058 individuals, of whom 1311 were already interviewed in 2018, a sensitivity to environmental and social sustainability began to prevail: 40% of the sample showed a potential interest, even if 66% did not know the past performance of these investment categories. Only 5% of investors declare that they have this type of product in their portfolio. However, 40% of respondents are not able to express an opinion on the so-called ESG factors (environment, social and governance).
Financial culture is scarce in adults, it grows among 15-year-olds
In addition to investigating risk appetite, the relationship delves into psychological attitudes that guide risk perception and assumption, such as the tendency to postpone decisions, the ability to solve economic and financial problems, optimism to exposure to errors of reasoning on probabilities.
The survey once again reveals the aversion to risk and losses, highlighted by two thirds of the sample. A good 40% think they have high skills in managing their finances and the lack of confidence in financial operators remains. The financial culture remains limited: 21 percent of the sample lacks knowledge of basic concepts such as inflation, risk-return ratio, diversification: only 12% demonstrate a mastery of 4 out of seven advanced concepts and only 2% correctly define them all.
Always the same mistakes among adults
"An aspect that emerges with evidence – continues Linciano – is the fact that knowledge of basic financial concepts has remained at the same level. With financial education campaigns schools are reached, but adults are not involved. The skills of fifteen-year-olds have improved, but not those of adults. I give you an example: last year we asked basic questions to groups of people that we have heard this year. Only 25% of those who had not been able to answer and had committed themselves to researching it did so. Nevertheless, the answers were wrong anyway ".
More shared investment choices between wife and husband
Finally, the survey reveals that in the family there is now greater sharing of investment choices. "If in the past it was predominantly the man with the greatest income in the family to make decisions independently – explains Soccorso – today the choices are often shared: an explanation is that in the equilibrium of the couple often women dampen some imprudent attitudes of the companions ».