Financial management behavior among Brazilian physicians: evidence for financial education and policy development

This study aims to identify the demographic, professional and regional determinants of financial management behavior among Brazilian physicians and discuss the implications for medical education and policy.

A cross-sectional online survey (n = 422) was conducted using an adapted 15-item Financial Management Behavior Scale (FMBS). The internal consistency was satisfactory (Cronbach's α = 0.758; McDonald's ω = 0.783). Group differences across FMBS terciles were assessed with chi-square/Fisher and Kruskal-Wallis tests; associations were examined via logistic regressions contrasting middle and upper terciles with the lower terciles (reference).

Positive behaviors were more frequent among men, older physicians and those practicing in the Southeast. In multivariable models, women had lower odds of being in the high-performing tercile (OR˜0.53, 95% CI 0.31-0.91); physicians aged = 50 years had markedly higher odds (OR˜27.3, 2.36-315.8); practice in the Southeast was associated with ˜three three-fold higher odds versus Central West. The FMBS subscales increased monotonically across terciles, especially Savings/Investments and Insurance (p < 0.001).

This study is limited by its cross-sectional design, which prevents causal inference, and by the reliance on self-reported data, which may introduce response bias. The exclusion of incomplete surveys might also have reduced representativeness. Future research should employ longitudinal designs and intervention-based studies to assess the long-term impact of financial education programs on physicians' financial behavior.

The findings support targeted financial counseling for early careers and female physicians and the curricular integration of personal finance in medical training.

Aligning physician-focused initiatives with national financial education efforts may reduce the gender and regional gaps.

The first nationwide analysis of Brazilian physicians' financial management behaviors used a culturally adapted FMBS and linked regional disparities to actionable education and policy levers.