Extending the concept of financial literacy: A step toward a sustainable society

This study analyzes financial literacy in Bosnia and Herzegovina by considering three areas: interest, inflation, diversification, with as a multi-dimensional construct consisting of knowledge skills. Using cross-sectional questionnaire-based survey, 638 valid responses were collected from working-age individuals (18-65 years old). Financial skills analyzed through prism several demographic factors, including age, education, household income, gender. Welch's F tests, ANOVA Brown-Forsythe, LSD post hoc t-tests performed to test the hypotheses. The findings provide evidence moderate literacy. Similarly previous studies, partially depend on respondent's contributes current literature taking much-needed non-functional approach examining literacy, focusing not only but also often neglected providing insight into unique context Herzegovina.