Assessing Financial Stability and Security among Hungarian Adults -- Insights from OECD 2023 Survey Data

Abstract

The OECD regularly assesses the financial literacy of the adult population in Hungary. This study draws on data from the most recent assessment conducted in 2022, with the official report released in 2023. Its primary focus is to explore the financial security of Hungarian adults. Using relevant questions from the original survey, the analysis was carried out with statistical tools such as t-tests, ANOVA, linear regression, and cluster analysis.

A key objective was to identify any relationship between financial security and the level of regional development across Hungary. The study also aimed to examine how financial security varies by type of settlement. The findings suggest that financial security among adults in Hungary is linked to the region they live in, but not to the type of settlement (e.g., urban or rural).

Financial security appears to be mainly influenced by the availability of personal financial reserves, while the level of investment diversification does not show a meaningful connection. Based on these insights, further research could be beneficial, both by extending the study to other countries and by conducting longitudinal analyses to track changes over time.