Abstract
In 2018, the Money Compass Foundation has published an online financial personality test for 12-14 year olds in Hungary. Completion is voluntary, and after completing the test, respondents receive an immediate assessment of their financial personality traits based on a predefined framework. The purpose of the testing is to learn about and develop young people's self-knowledge and financial awareness. The evaluation highlights the beneficial behaviours of the respondent and draws attention to the areas where the achieved results can be further improved. The test was completed by 15,933 respondents until February 2022. The authors examine the statistical validity of the practical use of the pre-defined financial personality structure built from the questions of the questionnaire with confirmatory factor analysis in Chapter II of the study. Compared to the pre-defined factors, after processing the answers, independence, as well as bad habits and impulsive buying became an independent factor, which draws attention to the fact that independence can be used to develop financial personality, and to the special importance of attitudes with adverse outcomes.
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