Abstract
In my article, I focus on the issue of financial literacy of regular pawnshop customers. We can view a pawn loan from the economic perspective, which is strictly rational, and takes into account the costs and benefits with regard to the specific goals.
However, we can also look at it from a symbolic point of view, which is more related to specific reasons that the borrower emphasizes when he decides to accept the loan fee. It is important to take into account all the circumstances, the ignorance of which can easily lead to the idea that the level of financial literacy of those who borrow at the pawnshop is relatively low.
However, such a view of the issue overlooks the living conditions and situation of borrowers. This raises the question whether we can apply the commonly used general concept of financial literacy to all strata of society, or whether disadvantaged groups act, in certain situations, according to their own principle of financial literacy, which better reflects their specific living conditions.