Financial Literacy of Graduate High School Students (original) (raw)
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EDULEARN proceedings
In the real world, where the pursuing of success and the money is the most valuable goal not only by corporations but almost all individuals, the understanding of financial context is very important. This topic is the cornerstone of financial literacy as a one of the individual skills. The article is aimed at the comparison of the situation among the general population in the financial literacy according to official statistical data. The focus in this part of the analysis is to identify if there is any connection between the financial literacy of the general population of the chosen counties and the economic level of those countries. As the next part of the analysis there are presented data of our own questionnaire survey among the students of faculty of education and the comparison of the results with the national level of financial literacy. Both parts of the article thus mutually correspond and moreover their results are used to formulate the conclusion for the increasing the skills of pupils. The pupils are the most suitable focus group for application of any enhancing educational projects in the topic of financial literacy because this topic should be one of the basic knowledge for real life. Education process of financial literacy should start as soon as possible as the preparatory process and not only as the process of elimination of consequences.
Analysis of financial literacy tendencies with young people
Entrepreneurship and Sustainability Issues, 2019
The following skills, such as planning of personal finances, formation and diversification of savings, augmentations of personal capital, and open-mindedness to new initiatives in the entrepreneurship activities, enhance the financial sustainability of the population, and are decisive for their life quality. Every person in certain circumstances can be financially and economically active, if s/he has got such competence as financial literacy which is much more important in the course of life than the level of income or professional qualifications, because, hereafter the governing factor will be not the possession of financial instruments by the person, but skills of effective management for the achievement of one's own objectives.Knowledge of financial matters at a young age makes administration of finances much easier when becoming adult, getting education, or joining the labor market. At the same time the necessity of improving the financial literacy among young people and educating schoolchildren is more and more discussed. Taking into consideration the fact that young individuals are a significant factor for the development of national economy, substantial improvement of young people's financial literacy is essential. Young people with a high level of financial literacy would be those who could give greater contribution to state economy, so it is important to research the level of financial literacy among young people. The objective of the present research is to analyze the financial literacy of young people in Daugavpils. Methods used in the research: monographic methodtheoretical description of financial literacy, graphical methodgraphical representation of obtained * This work is in principle linked to the
HIGH SCHOOL STUDENT FINANCIAL LITERACY ACCORDING TO SCHOOL TYPE
Financial literacy is a concept that contains knowledge and skills to be acquired by people, enables the accurate use, accumulation, increase, and management of incomes, and directly affects both national and international economies. Knowledge of individuals regarding financial concepts and their applications are of vital importance regarding financial decisions that would be made in every moment of life. This study examined the financial literacy levels of high school students, who contain the young population of society. A one-way ANOVA was conducted to determine differences between school types. The result shows that Science High Schools had the highest financial literacy level.
In the current economic conditions it is impossible to consider anything as permanent and predictable. A certain level of financial education across all age groups is necessary. It is no longer possible the case that what one learns in one time can use a long time without changes. Especially in the economic area, it is necessary to enable individuals still have further education, acquisition by obtaining of new knowledge and experience and deepen the already acquired. Likewise, how it is changed everything around, the financial environment is changing too. In the markets, there are many new possibilities of investment, saving or borrowing capital. Therefore, it is essential that each individual had a certain level of financial literacy. The aim of this article is to present the results of the research focused on the level of financial literacy among the high school students in the Czech Republic. A questionnaire survey was attended by participants from the high school students from Olomouc, Zlin and Moravian-Silesian Region in the total number of 297 respondents. The main area was examined the relationship between educational attainment and obtained level of financial literacy. During the research, there were the statistical methods to verify the results used, specifically the χ2 test for significance evaluation and the Pearson contingency coefficient for establishing the intensity of relations. Based on the obtained results we can say that there is agreement between the self-assessment of respondents´ financial literacy and the educational attainment. The results also show the reluctance of students to use the services of the financial advisors, mainly due to the fact the respondent do not know any representatives of this profession.
FINANCIAL LITERACY OF STUDENTS IN BUSINESS AND ECONOMICS HIGHER EDUCATION
The Annals of the University of Oradea, 2016
Alongside the numerous negative effects of the 2008 economic crisis, we can emphasize perhaps one positive aspect: one consequence of the crisis has been that attention has been paid to the low level of financial literacy among the population and the importance of financial education. Research into financial literacy has given priority to young people, because in order to be able to avoid a crisis similar to the lows of 2008, the next generation must at least have a high level of financial literacy. Therefore, this study focuses on an analysis of the financial literacy of young people. In our primary research we wanted to describe the financial literacy of Hungarian university students of economics and business, and to show any difference in this area compared to “average” young people not receiving this type of education. We also looked at how economic and financial knowledge acquired in high school influences the financial literacy of students. In our research questionnaire we focused on the three components of financial literacy developed by the OECD in 2010: financial knowledge, financial behaviours, and attitudes to and preferences regarding financial matters. Our results show that the financial knowledge of those involved in economic and business education is at about the same level as the financial knowledge of “average” young people; however, financial and economic education in high school has a positive effect on students’ financial literacy. In our analysis of financial behaviour, we came to the conclusion that the factors influencing economics and business students’ choice of a bank are almost identical to those of “average” young people. In addition, similarities were discovered in borrowing, as well as in the willingness to finance everyday consumer goods through loans. However, in terms of the selection of savings provision and financial products, economics and business students are characterized by more conscious behaviour compared to their “average” counterparts. Furthermore, it was found that the financial attitude of all the tested students as well as of “average” young people is above the average, but this is not manifest in their behaviour regarding savings, so any measures taken in the future to improve the financial literacy of the general public should focus in particular on this component.
Issues of financial literacy education
Procedia - Social and Behavioral Sciences 28 (2011) 365 – 369, 2011
The current issue of financial literacy is addressed at the international level and the trend suggests that increasing the level of population knowledge in this direction can be more than useful. Financial literacy is a set of knowledge and skills necessary for people to financially secure themselves and to behave actively in the market of financial products and services. Financially literate citizens are well versed in issues of money and prices, and are able to manage their personal budget responsibly. Finances are important part of everyday life and financial literacy is the best way to prevent over-indebtedness of citizens. Therefore it should be taught at schools. The government of the Czech Republic has approved the National Strategy for Financial Education. The survey focused on mapping the level of knowledge of financial markets of the students was conducted and the results are presented in the paper. In addition to the survey, extensive surveys of information available on the Internet and information in many databases were conducted. Data obtained from the questionnaires were analyzed using statistical software Statistica SPSS. The key problems encountered by consumers were identified and methodologically described. At the end of the paper new methods are proposed for effective teaching of financial literacy.
Awareness and impact of financial literacy among secondary School students
Research Journal of Educational Sciences, 2022
Sustainable Educational Practices involves developing life-skills including leadership, communication, collaboration, cooperation and management; all of which are extremely important for personal development of students. Financial literacy involves an individual's ability to interpret and understand basic financial concepts and apply that knowledge to make informed decisions related to finance in their day to day activities as also applicable as lifelong learners. There are many benefits to being financially literate which definitely brings more development, innovation through use of more technologies and more economic and social prosperity. The key role students would be playing at saving, managing pocket money, understanding the power of compounding, retirement planning, accumulating wealth, and avoiding debt. Financially literate students are able to understand better, macroeconomic problems and make informed decisions related to fiscal and monetary policies, scope and limitations of new start-ups and how to take calculated risks. Hence based on the research, we would like to bring the awareness and impact of financial literacy to secondary school students (age 12+) which was not included in any of the Education Policy nor NEP 2020.
Financial Literacy in Education Process: Literature Study
The Universal Academic Research Journal, 2022
One of the factors affecting the quality of life of individuals is financial decisions. Every activity that individuals do to meet their needs is within the scope of finance. For this reason, Financial literacy is a concept that closely concerns every individual living in society. Financial literacy includes individuals to have information about financial issues and to make the right investment and consumption decisions. Accordingly, having a financial literacy education at early age and to sustain it throughout life. Regarding this importance, the aim of the article is to compile the studies on the importance of financial literacy education and to provide theoretical resources to the literature. For this purpose, this review article consists of three parts. In the first part, the definition and content of the concept of financial literacy are mentioned. In the second part, the place and importance of financial literacy in education, its benefits to the general public and students, and the necessity of financial literacy education are mentioned. In the last part, it is mentioned about the projects that have been realized and are being realized in the field of financial literacy in Turkey.
The Importance of Financial Literacy Education
Adpebi International Journal of Multidisciplinary Sciences, 2022
Purpose-This research tries to explore the importance of financial literacy education as a provision of life for everyone. We consider this problem due to many people must face financial difficulties in their old age. Methodology/approach-We use qualitative analysis with in-depth and critical analysis. This research uses a qualitative approach, which is a study of literature. Some papers and books regarding financial literacy used as references for this study. This research focus examines the importance of financial literacy education for the younger generations explicitly, as a provision for them to live their lives in the future. Findings-Our result shows that the role of family and school can shape people in understanding financial knowledge nicely. We elaborate these variables as important factors that influencing life. Novelty/value-Our finding suggests that financial literacy education must be started since childhood due to its stage crucial in someone's life phase, and also children are easy to receive lessons. We also show that teachers are essential in educating children promptly to know financial matters. A large amount of fraud cases that makes people loss a lot of money, is due to the ignorance of financial literacy. By mastering knowledge of wealth people can live in prosperous life.
Financial Literacy on Trisakti Postgraduate Students University Yosephinartiani
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