Methods Used in Developing Financial Awareness among Primary School Children as Perceived by Parents

Abstract

The study aimed to identify the methods used to developing financial awareness and the obstacles among children in the primary classes as perceived by parents. Besides, it showed the differences among the sample according to the parent's gender, their educational qualifications, the student's gender, and the school type (public, private). Therefore, the study used the descriptive survey method, and the two researchers developed a questionnaire that was applied to a sample of (357) parents of primary pupils in public and private schools at Abha city. The results showed that experiential learning and storytelling were the methods that sample used with their children. However, the obstacles they face were the negative impact of social media on motivating their children's financial awareness. Also, there is no statistically significant differences between the methods used and the obstacles they face attributed to the parent's and pupil’s gender. However, there is a statistically significant differences between the methods used attributed to educational qualification, in favor of the parents who have a diploma and to the public-school type for pupils. Accordingly, the study recommended developing training programs for parents concerned with encouraging financial awareness for primary school children. Keywords: financial awareness, early childhood, parents, family, financial socialization.