Young adult debt rate and financial education in Chile


  • Edison Cornejo Saavedra Universidad del Bio Bio
  • Benito Umaña Hermosilla Universidad del Bio Bio
  • Nataly Guiñez Cabrera Universidad del Bio Bio
  • Daniela Muñoz Silva Universidad del Bio Bio
  • Caterin Mardones Lagos Universidad del Bio Bio


Financial knowledge, debt, survey


The ability to manage personal finances has become increasingly important when assessing savings and bank loans alternatives. However, different studies have shown that young people have not received a good financial education. This study determined both, the level of indebtedness and financial education of young adult population in Chillan City, Nuble Region. A randomized probability sampling was conducted as well as a 46-question survey was given to subjects whose age ranged 18 to 39 years. 54.5% of the respondents declared having debts with banks or department stores. The average indebtedness rate was 12 times their monthly income. On the other hand, 51.5% tested on low financial knowledge, and 69.7% showed a medium level financial education.


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How to Cite

Cornejo Saavedra, E., Umaña Hermosilla, B., Guiñez Cabrera, N., Muñoz Silva, D., & Mardones Lagos, C. (2018). Young adult debt rate and financial education in Chile. RAN - Revista Academia & Negocios, 3(2), 33-44. Retrieved from



Research Article

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