The survey, conducted late last year on a sample of 900 citizens aged between 18 and 60, showed that Croats scored an average of 14 points out of a maximum of 22 in three areas of financial management.
That's equivalent to a D mark, Edo Rajh of the EIZ said.
The survey shows that Croatian men a more financially literate than women, as were older respondents compared to the young. Education qualification was a key variable too.
One of the conclusions drawn from the survey results is that household income positively affects financial literacy, which means that better-standing households show better financial awareness.
The results showed that 49 per cent of citizens had a responsible financial attitude, while 15% believe that money exists to be spent and 41% enjoyed spending more than saving.
When concluding financial arrangements, around 37% of those surveyed first analysed various options, while 29% didn't.
The survey also disclosed some sad facts about household finances in Croatia, indicating that 50% are barely making ends meet, while one in four households would not be in a position to hold out for more than a month without their main source of income. One in every four households needs to borrow to pay the bills, 23% borrow to pay for everyday needs and 22% borrow to obtain food.