Older Adults’ Financial Literacy Spatial Analysis in Tlaxcala

Abstract

This paper maps older adults (OAs) financial literacy in 59 out of 60 municipalities of the Tlaxcala state (Mexico) analyzing the patterns at municipality and voting district level. Through a random sample of 2954 OAs we measure and compare sub-groups financial literacy means versus the state mean. Only 2.33% of all OAs are financial literate, and those with higher dependency score below the state average. Formal education and not having inherited are associated with major knowledge and OAs financial illiteracy is associated with being abused. This results may serve as a baseline for public policy and show specific vulnerabilities for this age group. The main limitation of the research is that neither all municipalities, nor voting district, were surveyed. The originality stems from mapping microdata aggregation that may benefit decision makers and research scholars. In order to spread financial literacy specific actions attached to the national policy need to be taken.