Abstract
In my paper, I deal with the issue of possible connection of financial literacy with a symbolic concept of value in case of pawn loan in the pawnshop. It turns out that the symbolic concept of value is more or less related with the reasons that the borrower accents while deciding whether they accept the loan fee.
These specific reasons they then compare with the financial costs of the loan. A key role represents such concepts as self-esteem, prestige, position in social hierarchy, confirming social status, etc.
At first sight, the symbolic concept of value differs from general economic considerations, so it may seem rather irrational to disinterested observer. The ignorance of context may then evoke the notion that the financial literacy of those who borrow in the pawnshop under relatively unfavorable conditions is barely sufficient.
However, such a view of the issue is not complex because it completely ignores current life situation of the borrowers. The question then arises as to whether the commonly used mainstream concept of financial literacy is universally applicable to all levels of society.
It turns out that many members of socially disadvantaged groups, act, in certain life situations, according to rather different principles of financial literacy adapted to their current living conditions.