Methods for Forming Financial Literacy in Preschoolers and Younger Schoolchildren

2021 ◽  
pp. 49-53
Author(s):  
Yu. Dmitriev ◽  
T. Zyuzina
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Financial Education ◽  
Well Being ◽  
Financial Instruments ◽  
Low Level ◽  
Primary Schoolchildren ◽  
Younger Generation

At the present time, the question of the financial literacy of the younger generation is becoming relevant, this is due to the emergence of more and more financial instruments, the complication of the range of financial services and other factors. The low level of financial literacy, the lack of financial education among Russian citizens negatively affects both personal well-being and the economy itself as a whole. This article discusses the basics of understanding financial literacy and methods of its development among preschoolers and primary schoolchildren. The main problems of financial education in modern schools are analyzed.

scholarly journals IMPROVING FINANCIAL LITERACY OF THE CHILDREN AND TEENAGERS IN THE RUSSIAN FEDERATION

2019 ◽  
Vol 8 (6) ◽  
Author(s):  
Aidar M. Tufetulov ◽  
Chulpan M. Shavaleyeva ◽  
Nadia M. Sabitova ◽  
Timur I. Abdreev
Keyword(s):  
Financial Market ◽  
Russian Federation ◽  
Financial Literacy ◽  
National Level ◽  
Financial Education ◽  
Well Being ◽  
Children And Youth ◽  
Low Level ◽  
Training Materials ◽  
The Russian Federation

The issues of improving the financial literacy of the population are currently receiving a lot of attention both at the international and national levels. Of particular relevance are financial literacy issues for the Russian Federation. Due to the peculiarities of the country's historical development, for most citizens of Russia, issues of personal financial planning, the principles of the functioning of financial markets, the possibility of investing savings remain obscure, as a result of this, the population can not fully use modern financial products and services, does not know their rights in the financial market and unable to protect them in accordance with the law. It should be noted that the problem of a low level of financial literacy of citizens is a problem at the national level, since a low level of financial literacy negatively affects the personal well-being of citizens, their financial potential, and accordingly prevents the development of the financial market, inhibiting investment processes in the economy. Under these conditions, increased interest in issues of financial education and financial literacy of citizens of the Russian Federation is logical and, since 2011, the World Bank and the Ministry of Finance of the Russian Federation have actively implemented a project “Promoting Improving the Level of Financial Literacy of the Population and Development of Financial Education in the Russian Federation”. One of the most important areas of the project is to increase the financial literacy of children and youth. Since the start of the project, a range of training materials has been developed in this area, professional development of school teachers, teachers of orphanages, college teachers is provided, and weeks of financial literacy are held. The result of the events was a significant increase in the level of financial literacy of Russian schoolchildren. In this regard, the experience of the Russian Federation in improving financial literacy of children and youth is of great interest.

Achieving Financial Inclusion for Persons With Disabilities: Exploring Preparedness and Accessibility of Financial Services for Persons With Disabilities in Malawi

2021 ◽  
pp. 104420732110275
Author(s):  
Alex Nester Jiya ◽  
Maxwell Peprah Opoku ◽  
William Nketsia ◽  
Joslin Alexei Dogbe ◽  
Josephine Nkrumah Adusei
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Commercial Banks ◽  
Empirical Studies ◽  
Well Being ◽  
Living Conditions ◽  
Inclusive Development ◽  
Future Research ◽  
Structured Interviews ◽  
Persons With Disabilities

Deplorable living conditions among persons with disabilities and the need to improve their living conditions cannot be overemphasized. This has triggered international discussion on the need for deliberate social policies to bridge the poverty gap between persons with and without disabilities. In Malawi, expansion of financial services has been identified as an essential tool to accelerate economic and inclusive development. However, empirical studies are yet to explore the preparedness of financial institutions to extend their services to persons with disabilities. In this qualitative study, semi-structured interviews were conducted with managers from commercial banks in Malawi to understand their perspectives on extending financial services to persons with disabilities. Interviews were transcribed verbatim and a descriptive thematic analysis was performed. Although participants reiterated the need to provide persons with disabilities with financial services to improve their well-being, few initiatives have been undertaken to improve their participation. Particularly, participants stated that barriers, such as a lack of financial literacy and adaptive technologies, communication barriers, and high rates of unemployment, explained the reluctance of commercial banks to extend financial services to persons with disabilities. The limitations, recommendations for future research, and implications of the study for policymaking have been highlighted.

scholarly journals Problems and prospects of personality formation and development in the context of social well-being

2021 ◽  
Vol 7 (3B) ◽  
pp. 470-480
Author(s):  
Yaroslav Volodymyrovych Tsekhmister ◽  
Tetiana Konovalova ◽  
Irina Mykhaylivna Ovdiyenko ◽  
Oleksandra Brukhovetska ◽  
Tetiana Volodymyrivna Chausova
Keyword(s):  
Social Networks ◽  
Empirical Study ◽  
Social Protection ◽  
Well Being ◽  
Educational Institutions ◽  
Service Workers ◽  
Low Level ◽  
Self Acceptance ◽  
Younger Generation

The goal of the article is to empirically establish the problems and determine the prospects of formation and development of personality in the context of social well-being. The empirical study surveyed 120 students and students, 118 adults, and 112 seniors. The age of the respondents ranged from 14 to 70 years old. Psychodiagnosis was carried out through cooperation with educational institutions, social protection institutions and with the help of social networks. Respondents were from: Khmelnitsky, Rivne, Zhytomyr, Kyiv, Cherkasy, Vinnitsa, Ternopil, Poltava, Kherson, Odessa regions. Respondents were pupils, students, teachers, medics, trade and service workers, ICT specialists, and pensioners. The main problems of personality formation and development in the context of social well-being are: disregard of altruistic, cognitive, existential life meanings by the younger generation; prevalence of hedonistic beginning over high-spiritual; increased attention to obtaining status and power; consideration of self-realization and status outside the cognitive sphere; low adaptability in society, poorly expressed acceptance of others and self-acceptance, low level of emotional comfort.

Financial Inclusion through Financial Literacy

2022 ◽  
Vol 13 (1) ◽  
pp. 0-0
Keyword(s):  
Financial Literacy ◽  
Uttar Pradesh ◽  
Secondary Data ◽  
Financial Education ◽  
Well Being ◽  
Financial Inclusion ◽  
Financial Decisions ◽  
College Curriculum ◽  
Financial Exclusion ◽  
The Government

Financial literacy is a means to tackle the problem of financial exclusion. It is a combination of awareness, skills, knowledge, attitude and behaviors necessary to make sound financial decisions and achieve financial well being. Objective of this study is to analyze current policy, practices and evidences on financial literacy. The study has been carried out on the basis of review of literature and secondary data collected from a range of sources. It is found that the government of India, RBI and other regulatory bodies are running financial literacy campaigns through diverse mediums. Financial literacy centers (FLCs) are contributing for enhancement of financial literacy. However, they need to be strengthened by enhancing resources. Inclusion of financial education in school and college curriculum has also been recommended. Scope of the study is limited to Ghaziabad district of Uttar Pradesh in India. The study might be valuable for policymakers in enhancing financial inclusion.

scholarly journals Financial Literacy in Japan: New Evidence Using Financial Knowledge, Behavior, and Attitude

2020 ◽  
Vol 12 (9) ◽  
pp. 3683 ◽  
Author(s):  
Yoshihiko Kadoya ◽  
Mostafa Saidur Rahim Khan
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Well Being ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Economic Factors ◽  
Financial Decisions ◽  
Aged People ◽  
And Behavior ◽  
Socio Economic Factors

Success in the current complex and sophisticated financial marketplaces depends on the ability of people to make sustainable financial decisions to improve their future well-being, for which financial literacy is a pathway. This study examines the relationship between the demographic and socio-economic factors and financial literacy in Japan by segregating financial literacy into financial knowledge, attitude, and behavior, and providing a deeper understanding of the relationships. The methodology included using data from the Financial Literacy Survey 2016 by the Central Council for Financial Services Information of Japan. We used a linear regression model to explain how demographic and socio-economic factors relate to financial knowledge, attitude, and behavior. Results show that education, the balance of financial assets, and the use of financial information are positively related, while the experience of financial trouble is negatively related to financial knowledge, attitude, and behavior. We show that males are more financially knowledgeable than females, but females are more positive than males with regard to financial behavior and financial attitude. Age is positively related to financial knowledge but negatively related to financial attitude, thus suggesting that middle-aged people in Japan are more financially knowledgeable, but younger and older people are more positive with regard to financial behavior and attitude. The findings have implications for policymakers.

Subjective financial knowledge, prudent behaviour and income

2019 ◽  
Vol 37 (4) ◽  
pp. 934-950 ◽  
Author(s):  
Leonore Riitsalu ◽  
Rein Murakas
Keyword(s):  
Financial Literacy ◽  
Financial Education ◽  
Well Being ◽  
Financial Knowledge ◽  
Future Research ◽  
Objective Knowledge ◽  
Content Type ◽  
Subjective Knowledge ◽  
Subjective Financial Knowledge ◽  
Behaviour Score

Purpose The purpose of this paper is to study how subjective and objective knowledge of finance, behaviour in managing personal finances and socio-economic status affect financial well-being. Design/methodology/approach The financial well-being score is constructed in quantitative financial literacy survey data from Estonia as the arithmetic mean of four statements on a five-point scale. Four hypotheses are tested in multiple regression analysis. Findings Subjective knowledge has a stronger relation with financial well-being than objective knowledge. Financial behaviour score and income level correlate with financial well-being. Research limitations/implications The paper contributes to literature on financial literacy, subjective financial knowledge and financial well-being. In future research, psychological factors and future orientated financial well-being should be included, and their relationship to subjective well-being could be analysed further. Practical implications The results highlight the importance of subjective knowledge and sound behaviour for improving financial well-being. Providers of financial services should address these more in the design of their services and communication. Social implications Policymakers developing national strategies for financial education need to address subjective financial knowledge for increasing financial well-being in society. Originality/value Knowledge, behaviour and subjective knowledge have not been used simultaneously in the analysis of financial well-being in Europe before.

The Argument for Teaching Financial Literacy at Higher-Education Institutions

2016 ◽  
Vol 43 (3) ◽  
pp. 349-365 ◽  
Author(s):  
SHERI GEDDES ◽  
TODD STEEN
Keyword(s):  
Higher Education ◽  
Postsecondary Education ◽  
Financial Literacy ◽  
Higher Education Institutions ◽  
Financial Education ◽  
Well Being ◽  
Academic Programs ◽  
Human Flourishing ◽  
Substantial Impact ◽  
Financial Decisions

ABSTRACT Evidence suggests that financial decisions have a substantial impact on human flourishing. This paper examines the arguments for higher-education institutions to take a role in the provision of financial education for their students, families and alumni, who often incur substantial debt and make other sacrifices to obtain a postsecondary education. It also analyzes the current state of financial education at 322 higher-education institutions. While many postsecondary institutions have embraced some aspects of financial education, other higher-education institutions appear reluctant to infuse this multidisciplinary topic into their academic programs. Colleges and universities should consider developing robust programs that boost financial literacy and improve lifelong economic well-being.

Teaching Financial Problem Solving: A Curriculum Model From a Pilot BSW Course

2018 ◽  
Vol 23 (1) ◽  
pp. 1-10 ◽  
Author(s):  
Thomas E. Smith ◽  
Kristin V. Richards ◽  
Lisa S. Panisch ◽  
Victoria M. Shelton
Keyword(s):  
Social Work ◽  
Problem Solving ◽  
Social Workers ◽  
Financial Literacy ◽  
Financial Education ◽  
Integrated Approach ◽  
Well Being ◽  
Environmental Stability ◽  
Financial Problem ◽  
Curriculum Model

Social work clients need financial literacy skills. Many clients are faced with the task of overcoming increasingly complex and challenging financial obstacles that can take a dire toll on their physical and environmental stability and mental well-being. Social workers who lack skills in financial literacy are at a disadvantage when helping their clients overcome economic hardships. Financial therapy is an emerging intervention that merges techniques of psychotherapy with financial education. This integrated approach can be used by social workers in generalist settings to promote financial problem solving. Few baccalaureate social work (BSW) programs provide students with education about financial problem solving from this angle. A curriculum model and overview of a pilot course introducing BSW students to a manualized form of this approach is presented. Overall, students found the course beneficial and expressed interest in using this intervention in practice. Student feedback is reviewed, along with directions for further study.

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.

Sign in / Sign up

Export Citation Format

Share Document