Os efeitos dos traços de personalidade e da educação financeira na tomada de decisão financeira

Abstract

To gain a deeper understanding of the motivations behind individual investment decisions, considering the perspective of the Big Five Personality Model (extraversion, agreeableness, conscientiousness, neuroticism, openness to experience), the objective of this study is to investigate how personality traits and financial education levels of investors are associated with their financial decision-making regarding investments. To this end, a questionnaire was applied to measure the sociodemographic profile, financial attitude, financial behavior, financial knowledge, personality traits, and investment decisions of public servants from the Municipality of Uberlândia. Key findings revealed that both personality traits and components of financial education (attitude, behavior, and knowledge) are associated with investment decisions. Openness to experience showed a positive relationship with investments in equities and real estate, while neuroticism was associated with portfolio diversification, suggesting a more cautious approach. Extraversion, on the other hand, had a negative effect on the allocation to higher-risk assets. Regarding financial education, more proactive attitudes were linked to diversification and seeking riskier assets, while structured financial behaviors indicated a preference for real estate. Financial knowledge, although with less significant effects, contributed to more diversified strategies. The results emphasize that financial decisions depend not only on technical knowledge but also on behavioral and psychological factors, highlighting the importance of self-awareness and financial education for more conscious choices aligned with individual goals.