Socio-Demographic Predictors of Financial Security Perception: Evidence from the OECD Financial Literacy Survey in Hungary

Németh, Erzsébet and Malatyinszki, Szilárd and Kálmán, Botond Géza (2025) Socio-Demographic Predictors of Financial Security Perception: Evidence from the OECD Financial Literacy Survey in Hungary. RISKS, 13 (12). No. 229. ISSN 2227-9091

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Abstract

Purpose of the article: The study aims to explore how demographic characteristics—including gender, age, education, employment type, household composition, and place of residence—affect perceived financial security among Hungarian adults. It seeks to identify which population segments feel most or least financially secure and to assess the relationship between socio-demographic factors and subjective financial well-being. Methods: The analysis is based on the OECD Financial Culture Survey conducted in Hungary on a representative sample of 1000 adults. Perceived financial security was measured using four questionnaire items related to financial satisfaction, concerns about expenses, and income sufficiency. Independent t-tests, one-way ANOVA, and Welch’s ANOVA were applied to test group differences. Findings & value added: Results indicate no significant gender differences in perceived financial security, while education and employment status show strong effects: higher educational attainment and self-employment or retirement are associated with greater financial security, whereas lack of formal education and disability predict lower security perceptions. Urban residents, particularly in large cities, report significantly higher perceived security than those in smaller towns. The study contributes to the literature by integrating OECD-level data with demographic analysis, highlighting the role of education and labor market position in shaping subjective financial well-being in Hungary.

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