Financial Literacy Integration in the K to 12 Social Studies Curricula in the Philippines: Basis for a Contextualized COVID-19 Teaching Model (original) (raw)

The Importance of Financial Literacy Knowledge For Elementary School Students In 21st Century

Efektor, 2019

Life in the 21st century requires a variety of skills that an individual must master in order to become a successful person in life. Skills in managing finances are needed. Therefore, the need for financial literacy knowledge is taught early, especially in schools so that it will accumulate into adulthood. This article aimed to explain the importance of financial literacy knowledge for elementary school students in the 21st century. Data collection used observation, literature study, and documentation. Data sources from informants and documents. Data analysis used qualitative data analysis of interactive models. The findings showed that students at elementary schools prefer to buy objects that are desired rather than needed. This shows the importance of financial literacy knowledge for elementary school students. This is supported by the results of a literature study that financial literacy knowledge will be useful in managing students' finances for now and in the future. Theref...

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.

VIEWS OF FILIPINO PUBLIC SCHOOL TEACHERS ON FINANCIAL LITERACY

Journal of Science Innovation for Sustainable Development https://ph01.tci-thaijo.org/index.php/JSISD/index , 2023

The study analyzed the Philippine public school teachers' views on financial literacy. The study utilized qualitative and quantitative data to answer the established research purpose. The present study used a mixed method, particularly the parallel analysis mixed method. In this method, the researcher combined both qualitative and quantitative research techniques. Based on the results, teachers don't keep records and only know how much they received and spent during a month. They also need to improve their financial understanding, education, and literacy to invest and save appropriately since they are interested in forming their financial targets and personal and current financial plan. Most of them have debts from different lending companies. Most of them need an existing financial plan, and they need to possess proper financial understanding. They only know the shallow reasons for saving. They consider themselves financially literate if they receive their paycheck and pay their monthly responsibilities. In the eyes of public school teachers in the Philippines, financial literacy has money. It is highly recommended to study this matter further and focus more on finding the best strategies, implementations, and practices to improve the financial literacy of public school teachers.

Application of Financial Literacy to Elementary School Students to Be More Prosperous in the Future

Indonesian Journal of Multidiciplinary Research, 2021

Indonesia has almost 2 years in implementing distance learning to prevent an increase in the transmission of the Corona Virus. With the creation of the Thematic community service program, it is hoped that it can increase student interest in learning and help educators and parents of students to facilitate the implementation of online learning activities. This research was conducted in an elementary school in West Java. At the initial stage, the research was conducted to survey the number of students in grade 6 of the Elementary School. The number of students recorded was 60 students in grade 6. Then we distributed the 60 students with 47.60% (21 male students) and 52.40% (39 female students). Learning and teaching activities at Karanganyar State Elementary School 2 are carried out online. The learning media used are Zoom Meet, WhatsApp group, and Google Form for students. This method is a solution in implementing distance learning with interactive learning media. The results of the ...

Fillecya (Financial Literacy) Board: Analysis of Media Development Needs from the Teacher’s Perspective in Understanding Financial Literacy Early

Proceedings of the 4th Padang International Conference on Education, Economics, Business and Accounting (PICEEBA-2 2019), 2020

Fillecya (Financial Literacy) Board adopts the idea of financial literacy education for the community, where the need for people to have better knowledge, confidence, and skills in financial management, where experts believe that financial literacy knowledge is significantly related to individual financial behavior of consumers. The important point in this research is how to teach financial literacy early on to children as the pillars of national development. One reliable alternative strategy in teaching children is through games, where children learn while playing and education will enter naturally. This research emphasizes the Fillecya Board as a medium for early financial literacy education. Scientifically, the Fillecya Board will have a positive contribution to scientific development in the field of financial literacy which is in line with the times. On the other hand, Fillecya also acts as a place for learning while playing for children and a means to train decision making. From the social aspect, fillecya will be able to increase solidarity between children and train healthy competition. By using the Research and Development research approach by using the Four-D model, namely define, design, develop and disseminate. For the first year, the results of this study show that all teachers which is this research respondent felt the need to develop financial literacy learning media. This is considered necessary because so far the direct instruction method has not been able to make students understand about the material and need more time to achieve this learning goal.The results of this study indicate that more interactive media are needed in this study, one of which is fillecya.

Effects of Financial Literacy Integration on The Saving Attitude of Pupils

Financial education is said to play a big role in developing an effective financial management. Problems of alarming rates of bankruptcy and high levels of consumer indebtedness reflect the need for financial education. This descriptive study used the survey method in determining the effects of financial literacy integration on the saving attitude of pupils in grades IV, V and VI in Dumaguete City, Philippines. Two sets of questionnaire were used for each group and data collected were treated using Statistical Package for the Social Sciences (SPSS) version 17.0. Findings reveal that the extent of elementary school teachers' integration of financial literacy concepts is Good and bears the indicator Less Detailed. Responses are also found to be closely related. Further, it is revealed that pupils learn to save from their school allowances and help sustain their education needs as reflected by their deposits in cooperatives and other locations.

Financial Literacy Learning Strategies in Elementary Schools

KnE Social Sciences

The scope of social studies in elementary schools includes the study of social sciences and also the life of the community. Several previous studies revealed the low-financial literacy of elementary school students. The purpose of this paper is to identify financial literacy learning strategies implemented by elementary school teachers around the world. The research method used is a literature study. The characteristics of sources used in this study are national and international articles from the last 10 years with the keywords financial literacy, elementary school, and learning. The results showed that three strategies could be applied in financial literacy to elementary schools, namely the strategy of preparing relevant teaching materials, making financial literacy questions, and innovative learning media. Keywords: financial literacy, learning strategies, elementary schools

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.

Methods for Developing Financial Literacy

On-line Journal Modelling the New Europe

In the recent years, the world has experienced a great number of difficulties beyond the usual events, and it has become almost part of our lives to be constantly alert to the problems and difficulties caused by Covid-19. In higher and public education, both in Hungary and in other countries of Europe, we have witnessed dramatic changes since 2020, which has fundamentally changed our knowledge and opinions on educational methodology. Prior to the pandemic, it was common practice in primary and secondary public education to teach according to methodological recommendations for face-to-face teaching. In higher education, in addition to face-to-face (offline) teaching, the use of online resources for a semester or a course was already being considered, particularly in the field of continuing education and vocational training. Higher education institutions have continuously been experimenting with solutions to extend face-to-face teaching, but these methods and forms of teaching have not become commonplace. However, from 2020, both instructors and students had to adapt all of a sudden if they wanted to avoid any backlog or disruption in this area. Even before the pandemic, we were concerned about the methodological innovations we would have to make in this specific area of education. We were also previously interested in looking at the needs of today's students who want to study finance. In our research, we therefore focus on the difficulties that online education caused for those who completed the questionnaire during the pandemic or after the outbreak of the pandemic, and on the framework within which they could envisage renewing their financial education in the long term. The research carried out by Jakovác and his co-authors has shown that the financial literacy of the Hungarian population is improving, but that its practical use and effectiveness is below the international average.

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.