Table 2 Basic and advanced financial...

Table 2

Basic and advanced financial literacy across demographics

	Basic financial literacy quartiles
	1 (low)	2	3	4 (high)	Mean	N
Education
Primary	0.391	0.264	0.198	0.147	2.101	3,591
Secondary	0.209	0.264	0.268	0.260	2.571	13,298
Certificate/diploma	0.131	0.213	0.299	0.357	2.881	2,480
Undergrad	0.079	0.161	0.292	0.468	3.150	380
Postgrad	0.069	0.130	0.262	0.539	3.271	347
Others	0.314	0.190	0.124	0.371	2.552	105
	$χ^{2}$ (15) = 1198.2***
Age
Less than 20	0.217	0.248	0.276	0.259	2.576	2,151
21–30	0.192	0.251	0.283	0.274	2.639	6,244
31–40	0.211	0.255	0.265	0.269	2.591	4,374
41–50	0.234	0.258	0.250	0.258	2.531	3,200
51–60	0.302	0.254	0.222	0.222	2.363	2,808
61–70	0.364	0.249	0.179	0.208	2.231	1,978
70 and above	0.467	0.208	0.166	0.159	2.017	1,298
	$χ^{2}$ (18) = 721.28***
Age
Male	0.218	0.241	0.272	0.268	2.589	8,905
Female	0.271	0.256	0.235	0.238	2.439	13,148
	$χ^{2}$ (3) = 113.31***

	Basic financial literacy quartiles
	1 (low)	2	3	4 (high)	Mean	N
Education
Primary	0.391	0.264	0.198	0.147	2.101	3,591
Secondary	0.209	0.264	0.268	0.260	2.571	13,298
Certificate/diploma	0.131	0.213	0.299	0.357	2.881	2,480
Undergrad	0.079	0.161	0.292	0.468	3.150	380
Postgrad	0.069	0.130	0.262	0.539	3.271	347
Others	0.314	0.190	0.124	0.371	2.552	105
	$χ^{2}$ (15) = 1198.2***
Age
Less than 20	0.217	0.248	0.276	0.259	2.576	2,151
21–30	0.192	0.251	0.283	0.274	2.639	6,244
31–40	0.211	0.255	0.265	0.269	2.591	4,374
41–50	0.234	0.258	0.250	0.258	2.531	3,200
51–60	0.302	0.254	0.222	0.222	2.363	2,808
61–70	0.364	0.249	0.179	0.208	2.231	1,978
70 and above	0.467	0.208	0.166	0.159	2.017	1,298
	$χ^{2}$ (18) = 721.28***
Age
Male	0.218	0.241	0.272	0.268	2.589	8,905
Female	0.271	0.256	0.235	0.238	2.439	13,148
	$χ^{2}$ (3) = 113.31***

Note(s): The table shows the distribution of the basic literacy index across different levels of education, age groups and gender. The basic literacy index is categorised into four quartiles, and the proportion of individuals in each literacy quartile as well as the mean quartile number is reported for each subgroup of education, age and gender. The weighted percentages as well as Pearson chi-square statistic test the null hypothesis that the distribution of individuals across the 4 literacy quartiles is independent of education, age and gender. *** denotes the statistical significance of the chi-square statistic at p < 0.001

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