The Impact and Efficiency of Financial Literacy Education in Early Life
da Rocha Natalino Monteiro, Vitor (2020)
2020
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202005128708
https://urn.fi/URN:NBN:fi:amk-202005128708
Tiivistelmä
This research paper has as main objective to find the effects of financial literacy programmes in schools and for the general population, how or if that can be measured and if they are effective or not.
Using mainly secondary data – with a mix of quantitative and qualitative methods – publicly available from the OECD and the PISA examinations from 2012, 2015, and 2018 and other governmental agencies surveys across the globe to see if financial literacy programmes are effective, and if so, how early they can be implemented, and what the curricula should contain.
The results from previous researches and analyses, have shown that financial literacy programmes do work in certain levels and regarding certain skills and also vary accordingly to socioeconomic factors. There is a very weak correlation between financial literacy and financial behaviour, but strong correlation with investment and retirement planning, while numeracy plays a bigger role in financial decisions.
It can be concluded that despite being important, financial literacy does not explain financial and consumer behaviour, and a psychological factor needs to be considered in order for programmes to measure and implement it more efficiently.
Using mainly secondary data – with a mix of quantitative and qualitative methods – publicly available from the OECD and the PISA examinations from 2012, 2015, and 2018 and other governmental agencies surveys across the globe to see if financial literacy programmes are effective, and if so, how early they can be implemented, and what the curricula should contain.
The results from previous researches and analyses, have shown that financial literacy programmes do work in certain levels and regarding certain skills and also vary accordingly to socioeconomic factors. There is a very weak correlation between financial literacy and financial behaviour, but strong correlation with investment and retirement planning, while numeracy plays a bigger role in financial decisions.
It can be concluded that despite being important, financial literacy does not explain financial and consumer behaviour, and a psychological factor needs to be considered in order for programmes to measure and implement it more efficiently.