Financial Education Program for Early Childhood Education

Abstract

Educators, school reformers, and others even consider financial education as one of the 21st century skills that should be taught and instilled among students. Learning theories such as cognitive learning theory by Jean Piaget, discovery learning of Jerome Bruner, and social learning theory of Albert Bandura can all be utilized to promote financial education in early childhood. Teaching financial education in schools starts the process of preparing children to become competent consumers and managers of household wealth. Moreover, the school system provides an effective way to reach children and teach them about personal finance. Children need more specific skills, attitudes, and fundamental knowledge about financial literacy now more than ever, because of changes in employment patterns, retrenchments, and the high unemployment rate in several countries. Still others point to the need for developing a feasible, efficient, and effective financial education program that could arrest the pressing need to raise the financial education of children.