A review of financial-literacy education programs for children and adolescents

2017 ◽  
Vol 17 (1) ◽  
pp. 56-80 ◽  
Author(s):  
Aisa Amagir ◽  
Wim Groot ◽  
Henriëtte Maassen van den Brink ◽  
Arie Wilschut
Keyword(s):  
Children And Adolescents ◽  
Financial Literacy ◽  
Financial Education ◽  
Literacy Education ◽  
Financial Behavior ◽  
Education Programs ◽  
Effective School ◽  
Positive Effects ◽  
School Based ◽  
Key Characteristics

In this systematic literature review, we evaluate the effectiveness of financial-literacy education programs and interventions for children and adolescents. Furthermore, the key characteristics of the design of a successful financial-education curriculum are described. The evidence shows that school-based financial-education programs can improve children’s and adolescents’ financial knowledge and attitudes. Studies that assess the intention to practice good behavior and studies based on self-reported behavior also report positive effects. However, studies that assess the effects of financial education on children’s and adolescent’s actual financial behavior are scarce, and show hardly any effect. A promising method to teach financial literacy to children and adolescents in primary and secondary school is “experiential learning.” In college, the focus should be on specific “life events” of students. The findings may be useful for designing an effective school-based financial education program.

scholarly journals Financial Literacy, Materialism and Financial Behavior

2018 ◽  
Vol 5 (4) ◽  
pp. 370
Author(s):  
Anastasia Anggarkusuma Arofah ◽  
Yunastiti Purwaningsih ◽  
Mintasih Indriayu
Keyword(s):  
College Students ◽  
Financial Literacy ◽  
Significant Contribution ◽  
Financial Education ◽  
Economic Education ◽  
Financial Behavior ◽  
Original Sample ◽  
Education Programs ◽  
Goods And Services ◽  
Financial Behaviour

AbstractOtoritas Jasa Keuangan (OJK) focus on improving financial behavior is through financial education program. This study discusses the importance of financial literacy and materialism attitudes in affecting individual’s financial behaviour. Using survey on 129 undergraduates of Economic Education, financial literacy and materialism being factor in affecting behaviour finance. The result of research shows that financial literacy has positive and significant contribution on financial behaviour. It can be seen from the original sample value is 0.244 and t-value 2.319 > 1.96. In addition materialism has a positive and significant contribution on financial behaviour with the original sample value is -0.583 and t-value 6.666 > 1.96. Undergraduates with high financial literacy has good financial behaviour, and undergraduates with low materialism tends can hold an activity related to the purchase of consumer goods and services. Moreover, the significance of financial literacy and self-efficacy has important implications for the development of policies that aim to improve financial behaviour among college students in financial education programs. Keywords: Financial Literacy, Materialism, Financial Behaviour, Financial Education

scholarly journals Some Insights Into Financial Literacy Among Undergraduate Students: A Case of Bosnia and Herzegovina

2021 ◽  
Vol 12 (3) ◽  
pp. 103
Author(s):  
Jasmina Okicic ◽  
Meldina Kokorovic Jukan ◽  
Mensur Heric
Keyword(s):  
Undergraduate Students ◽  
Financial Literacy ◽  
Sampling Technique ◽  
Financial Education ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Financial Attitudes ◽  
Significant Difference ◽  
Financial Behaviour ◽  
The Relationship

The purpose of this research is to provide some insights into financial literacy among undergraduate students focusing primarily on the relationship between financial knowledge, financial attitudes and financial behavior and on possible gender and financial education gap in financial literacy. Using the purposive sampling technique, data collection was carried out from April to June 2020, yielding a sample of 1,046 valid responses. To gain a better understanding of the relationship between financial behaviour, financial attitudes and financial knowledge, we, primarily, use exploratory factor analysis and multiple regression model. The research findings have revealed several important issues. First, findings have suggested that financial knowledge, financial attitudes and gender may be considered as an antecedent of the financial behaviour of undergraduate students. Second, findings have also suggested a statistically - significant difference between the financial literacy of undergraduate students concerning their exposure to formal financial education.

IMPROVING ECONOMIC RESILIENCE BASED ON THE VALUE OF AMARE CULTURE

2019 ◽  
Vol 1 (1) ◽  
pp. 48-59
Author(s):  
Januari Ayu Fridayani
Keyword(s):  
Financial Literacy ◽  
Qualitative Method ◽  
Literacy Education ◽  
Added Value ◽  
Financial Behavior ◽  
Economic Resilience ◽  
Group Discussions ◽  
West Kalimantan ◽  
Knowing That ◽  
Family Finances

The purpose of this research is to contribute to the border area in order to improve the economy, as one of the pillars of national security. This research was conducted in Bengkayang which is one of the regency areas in West Kalimantan. It is directly adjacent to Sarawak, Malaysia. The method used in this study is a qualitative method by carrying out focus group discussions. The material used is about financial literacy and financial behavior as one of the efforts that can be done to improve the economic resilience of a region. The target of this study is housewives, because housewives are important figures in managing family finances. The added value highlighted in this study is the existence of aspects of spirituality that are adapted to the beliefs held by the group studied and synergized in the provision of material, namely the value of amare culture. The results of this study were found to be a phenomenon that although in border areas, the community had received financial literacy education, however it did not get a good response, a lack of implementation of financial literacy had an impact on negative financial behavior patterns, when knowing that financial literacy can be used as a means of manifesting the faith adopted by enthusiastic housewives and giving a positive response.  

Enhancing Links between Research and Practice to Improve Consumer Financial Education and Well-Being

2015 ◽  
Vol 26 (1) ◽  
pp. 94-101 ◽  
Author(s):  
Billy J. Hensley
Keyword(s):  
Financial Literacy ◽  
Meta Analysis ◽  
Financial Education ◽  
Well Being ◽  
Collective Impact ◽  
Research Protocol ◽  
Education Programs ◽  
Financial Behaviors ◽  
Research And Practice ◽  
Influence Behavior

A recent meta-analysis of the effect of financial literacy and financial education on downstream financial behaviors has shown a weak collective impact of the work of financial education. While the findings are not stellar, they do not support a dismantling of financial education programs and funding. This paper examines the findings of the meta-analysis and discusses the implications for the field. In this discussion, a more thoughtful consideration of the ways to provide financial education and the manner about how to influence behavior is highlighted. In addition, this article proposes a systematic examination of why timely educational approaches should coexist with longer-term financial education programming. The field also needs a more rigorous examination of factors that impact intervention effectiveness, including a call for improved research protocol and evaluation and a plea for greater visibility between researchers and practitioners.

Financial education and financial satisfaction

2017 ◽  
Vol 35 (5) ◽  
pp. 805-817 ◽  
Author(s):  
Jing Jian Xiao ◽  
Nilton Porto
Keyword(s):  
Financial Literacy ◽  
Financial Education ◽  
Well Being ◽  
Financial Behavior ◽  
Future Research ◽  
Financial Satisfaction ◽  
Financial Capability ◽  
Data Set ◽  
Content Type ◽  
Mediating Factors

Purpose The purpose of this paper is to investigate roles of financial literacy, financial behavior, and financial capability as mediating factors between financial education and financial satisfaction. Design/methodology/approach Data are from the 2012 National Financial Capability Study, a large national data set with detailed information on financial satisfaction, education, literacy, behavior, capability, and related variables. Mediation analyses are used to answer research questions. Findings Financial education may affect financial satisfaction, a subjective measure of financial well-being, through financial literacy, financial behavior, and financial capability variables. Results show that subjective financial literacy, desirable financial behavior and a financial capability index (a sum of Z-scores of objective financial literacy, subjective financial literacy, desirable financial behavior, and perceived financial capability) are strong mediators between financial education and financial satisfaction. Research limitations/implications The study has used cross sectional data that can only document associations between financial education and satisfaction and the mediators between them. Future research could use relevant longitudinal data to verify multiple benefits of financial education. Practical implications The findings have implications for financial service professionals to take advantages of multiple benefits of financial education in content acquisition, confidence in knowledge and ability, and action taking when they communicate with their clients. Social implications Policy makers on consumer financial education may use the information to advocate and promote effective education programs to improve consumer financial well-being. Originality/value This study is the first of this kind to examine the association between financial education and financial satisfaction and several financial capability variables as mediating factors.

scholarly journals Financial Literacy in Turkey

2019 ◽  
Vol 8 (3) ◽  
pp. 01-16
Author(s):  
Ali Coskun ◽  
Muhammed Abdullah Sahin ◽  
Alperen Zengin
Keyword(s):  
Financial Literacy ◽  
Financial Education ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
International Network

We measure the level of financial literacy in Turkey using the OECD/International Network on Financial Education (INFE) methodology and compare our results with the ones obtained in 14 other countries that has used the same methodology. In our sample, financial knowledge and financial behavior levels are lower than the average of the 14 countries, whereas financial attitude level is around the average. The overall financial literacy score, which is a combination of the three aforementioned aspects, is also lower than the average of the 14 countries. We find that financial behavior is positively related with financial knowledge, female respondents are lagging behind the male respondents in financial literacy, and this lag is bigger than those in the 14 countries. Very young respondents and old respondents are less financially literate, financial literacy score is positively related with income, education, and income stability.

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