Statistics from CBA 2004 show that one is more susceptible to be financial illiterate if one is

To explore the relationship between financial literacy and various demographic or socioeconomic factors, we can look into several aspects based on the findings from the CBA 2004 report. Typically, studies like these analyze how characteristics such as age, education level, income, and geographical location affect financial literacy.

1. Age: Younger individuals often lack financial experience and knowledge, making them more susceptible to financial illiteracy. Conversely, older adults might be more financially literate since they have had more time to gain experience.

2. Education Level: Individuals with lower levels of formal education are generally more likely to be financially illiterate. Education provides important skills and knowledge necessary for understanding financial concepts.

3. Income Level: Those with lower income may have limited access to financial resources and education, which can hinder their understanding of financial management.

4. Geographical Location: People residing in rural areas might have fewer access to financial institutions and education programs compared to those in urban settings.

5. Cultural Factors: Cultural attitudes towards money and financial decision-making can also impact financial literacy levels.

In summary, individuals who are younger, less educated, from lower income backgrounds, living in rural areas, and influenced by certain cultural perspectives are more susceptible to financial illiteracy, as suggested by the statistics from CBA 2004.