IS THERE A RELATIONSHIP BETWEEN FINANCIAL BEHAVIOUR AND FINANCIAL POSITION? EVIDENCE FROM BOSNIA AND HERZEGOVINA
The main goal of this paper is to empirically analyse the relationship between financial behavior and financial position of individuals. To gain a better understanding of that relationship we primarily use structural equation modeling. The research findings have revealed a statistically - significant impact of savings habits and responsible financial behaviour on financial position of an individual. Therefore, and for policy purposes, these results may produce useful pieces of information which might be helpful in the creation of tailored-made training programs which would promote good practises of financial behavior and savings habits.