Abstract:

Having financial literacy can improve the well-being and quality of life for a woman and her family in Latin America, however, they have a lower level of knowledge in financial literacy and access to the formal financial sector compared to men. Therefore, in this documentary research, what the has found regarding the factors that influence the level of knowledge in financial literacy and the gap between men and women has been reviewed at a theoretical and empirical level, reviewing the particular case of Colombia, Peru, Bolivia, Paraguay and Argentina. Factors other than gender and education such as income level, race, degree of development of the country, coming from a family educated in financial matters, living in rural or urban areas, among others, also affect knowledge in the management of bails on a person. Taking into account the above, this study has a qualitative approach with a descriptive scope, in which it was found that for the majority of the aforementioned countries (except Chile) the degree of financial literacy in men is higher than that of women due to inequality in educational level. It should be noted that this gap has been closing over time, given the modernization of economies and the openness to women not only to education but also to job opportunities that allow them to manage their economic resources, making informed decisions coming from financial literacy.

Keywords:

Financial literacy, women, gender equality, gender gaps, economic growth.