Overconfidence in financial literacy (FL) is defined and assessed in various ways, and results regarding the effects of FL overconfidence on financial well-being are inconsistent. Therefore, this study aims to develop our understanding of the processes by which overconfidence in FL influences the financial well-being of consumers; that is to separately examine the effects of the different forms of FL overconfidence on financial well-being. In order to map the associations between FL, the forms of FL overconfidence, and financial well-being, the data of 506 randomly selected Hungarian test-takers were collected by a self-report questionnaire. According to the results, FL and its overestimation (OE) are positively linked to households' financial outcomes. Hence, perceived FL is a better predictor of financial well-being than actual FL skills. Moreover, the results add to the existing body of literature by showing that the effects of the different forms of overconfidence are divergent: overprecision and OE may be damaging. Thus, the paper provides evidence that FL overconfidence is a multifaceted construct, and its different forms affect financial well-being differently.

中文翻译：

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金融素养过度自信的形式及其在财务福祉中的作用

金融素养 (FL) 过度自信的定义和评估方式多种多样，关于 FL 过度自信对财务福祉的影响的结果并不一致。因此，本研究旨在加深我们对 FL 过度自信影响消费者财务状况的过程的理解；即分别检查不同形式的 FL 过度自信对财务状况的影响。为了绘制 FL、FL 过度自信的形式和财务状况之间的关联，通过自我报告问卷收集了 506 名随机选择的匈牙利考生的数据。根据结果​​，FL 及其高估 (OE) 与家庭的财务结果呈正相关。因此，感知的 FL 比实际的 FL 技能更能预测财务状况。此外，结果表明不同形式的过度自信的影响是不同的：过度精确和 OE 可能具有破坏性，从而增加了现有文献。因此，本文提供的证据表明，FL 过度自信是一个多方面的结构，其不同形式对财务状况的影响也不同。