Sustainable Consumption, Savings and Financial Literacy

Project Title
Sustainable Consumption, Savings and Financial Literacy

Start and End of Project
2011 - until present

Research Chief
Prof. Raquel Barbosa Ribeiro, ISCSP-ULisboa


Research Team

Researcher Name Institutional Afiliation
Carlos Pires CAPP/ISCSP
Caterina Foà CAPP/ISCSP
Diana Quintino CAPP/ISCSP
Filipa Frazão CAPP/ISCSP
Joana Lourenço CAPP/ISCSP
Guilherme Romano ISCSP
Raquel Barbosa Ribeiro CAPP/ISCSP


Institutions:
Instituto Superior de Ciências Sociais e Políticas (ISCSP)

Project Website:
http://marketingiscsp.wordpress.com/poupanca-e-literacia-financeira/


Summary


In a context of social change, sustainable consumption and its development since childhood deserve an increasing attention from scholars. Public and private organizations strongly participate in the socialization processes and develop increasing communication efforts aimed at children; the consequences of such actions should be discussed.
Although environmental issues have been central to the understanding of sustainable consumption, the debate about dysfunctional levels of spending, debt and financial failure, with complex and far-reaching consequences for societies and states, highlights to the importance of financially sustainable consumption: "the effort of trying to keep costs controlled , secure savings and avoid financial failure" ( Ribeiro et al., 2013). It is believed that financially sustainable consumption is supported by financial literacy and financial competence (or capability). The growth of initiatives for promoting consumer education and financial literacy and social innovations that aim to promote the financial stability of individuals, especially their savings, is noticed. However, much of the population remains poorly informed on financial choices and is still unable to make or evaluate complex financial products; to date, there is very little rigorous evidence on the impact of financial education.
This project aims to:

  1. Understand how representations of financially sustainable consumption and savings are formed by consumers.
  2. Studying media influence on financially sustainable consumption and savings .
  3. Identify and characterize the public and private programs of education for consumption in Portugal.
  4. Compare national and international programs of education for consumption.
  5. Identify the legal framework for consumer education in Portugal and abroad.
  6. Evaluate programs of consumer education.

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