Rolul educației financiare în formarea comportamentului de investitor

Abstract

The article emphasizes the importance of financial education in developing responsible and informed investor behavior. In Romania, although interest in investing in financial markets has increased, there is still a small number of investors compared to bank depositors. The majority of the population prefers to save in government securities. In this context, the level of financial education is essential: it allows the investor to understand the risks, choose the right instruments and decide the proportion of investments. Lack of knowledge leads to reluctance, fear of loss and the mistaken idea that large amounts are needed to invest. Stock market investments can, however, be accessible to anyone, even with small amounts, if they are made over the long term and in a diversified portfolio. A simple alternative for diversification is to replicate a stock index. The comparative analysis between the returns on bank deposits and stock market investments (period 2019–2025) showed significant differences: bank deposits generated a cumulative return of 16%, while monthly investments in the BET index structure brought a cumulative return of 95%. Although capital market investments involve risks and fluctuations, their profitability is clearly superior to classic savings. Financial education is thus the key to transforming the public into a conscious investor, capable of making rational and profitable decisions in the long term. CZU: 336.764:366.14(498); JEL: G11, G19