Importance Of Financial Education Research Articles

Financial education: the challenges of training educators of young learners

This paper aims to investigate the current scenario of how Financial Education is taught by teachers at an institution that trains young learners, in order to propose a continuing education program in Financial Education. It is considered essential that teachers have knowledge acquired from both training and practical experience. The methodology employed was applied research, with a qualitative approach, using data collection and analysis, as well as thematic analysis. The study presents a scenario in which the importance of Financial Education in the lives of young learners is recognized, but identifies that the lack of teacher training is an obstacle. This challenge can be overcome through continuing education and communities of practice to train them in Financial Education.

Modelling a financial literacy strategy as a life project concept

Financial literacy as a key element of ensuring sustainability and stability of economic systems is becoming important in the process of economic development. Financial literacy contributes to improving the well-being of citizens and the efficiency of financial resource management at the macro level. Thus, the purpose of the present study was to develop models for evaluating the effectiveness of various financial literacy strategies and their impact on the formation of life projects. A complex of scientific methods, including the analysis of statistical data and modelling of financial behaviour, was used to create a strategic model of financial literacy as a concept of a life project. A methodological approach, encompassing the decomposition of the stages of a person’s life and the identification of the peculiarities, connected with the use of money at each of these stages, was implemented in the research. Approaches to financial literacy focused on various forms of interaction with financial resources were suggested, and effective strategies for improving financial literacy were identified. The concept of financial literacy was examined and specified through the lens of knowledge, skills, and confidence for making responsible financial decisions. The advantages and disadvantages of developing financial literacy in Ukraine were identified, and examples of successful strategies of leading countries were provided. The importance of financial education at different stages of a person’s life was substantiated; the key periods of a person’s life and development, when money can act as earnings, expenses, accumulation, preservation, and transfer, were specified. The assessment of the influence of financial literacy on economic behaviour was carried out, and a life project model that takes into account financial decisions and actions was developed. Monetary models of preservation and accumulation of parental income, pocket money, and earnings from employment were considered in detail. The results of this study can be applied in practice when creating a state strategy aimed at increasing the level of financial literacy of the population and ensuring economic security

Determinants of Financial Literacy

Determinants of Financial Literacy

Ponzi schemes in Brazil: what leads people to still invest in this fraud?

Purpose Most scientific research has focused on understanding Ponzi schemes from the point of view of the schemes and their operators, based on qualitative analysis. This paper aims to analyze Ponzi schemes from the perspective of their investors, emphasizing behavioral aspects, which have been little explored in the scientific literature, especially in quantitative research. In this way, the authors sought to understand the effects of heuristics and cognitive biases in understanding investor behavior. Design/methodology/approach A logistic regression was carried out with Brazilian investors, some of them participants in Ponzi schemes, who answered a structured questionnaire by means of a survey. Findings The authors found that social pressures, overconfidence and deliberate ignorance lead to credulity, generating little risk analysis and the desire to make a lot of money quickly. Practical implications Helping investors improve their levels of information through financial education and self-knowledge about their behavior. Contribute to the competent authorities in the search for improvements in the information displayed to investors. Social implications Understanding the mechanisms used when making a financial decision from the point of view of investors in general, but especially those exposed to Ponzi schemes, has the mission of enlightening them about the importance of financial education and the weight of psychological factors so that they can reduce the effects of heuristics and analysis biases when faced with a financial decision. Originality/value The basis of this work will be the inclusion of psychological variables and financial education, adapting existing models in an attempt to demonstrate the effects they may or may not have on mental accounting in the specific case of investors

The Learning Effectiveness of the Innovative Model of Integrating Financial Education into a College Career Planning Course

This study examines the effectiveness of an innovative model of integrating financial education into a career planning course at the college level. A total of 104 freshman students (48 in the day division and 56 in the evening division) were sampled. Based on the analysis of the “College Students Financial Planning Survey Questionnaire” revealed that: 90% of the daytime students and 97% of the evening students agreed on the importance of financial education and financial planning in career planning; daytime and evening students share common perspectives on the importance of financial planning in career planning: to realize their dreams, they need to have an adequate financial foundation to support their daily living expenses, and then to plan their financial management well for future retirement security. There are several items of college students’ financial planning status varies between the different education programs. According to the analysis of various score results from the “Career Planning Course Learning Satisfaction Questionnaire”, there was no significant difference across academic systems in the analysis of satisfaction with the integration of financial education into a career planning course; the three most important overall satisfaction analyses all indicate a high level of satisfaction, including: the overall teaching content, the overall content design of financial education, and the benefit of integrating financial education into the career planning courses for personal career planning. Finally, this study offers some specific suggestions for integrating college financial education into a career planning course.

Políticas públicas de educação financeira: do processo histórico às ações práticas em Instituições de Ensino Superior

Abstract In current times, the importance of financial education has gained prominence in discussions held within multilateral organizations and governments around the world, with the purpose of building a society that is aware of the impact of their actions as individual financial agents in global society, through education. In this environment, the general objective of this article is to discuss the conception of financial education as public in Brazil, tracing a mapping of the main practical actions in higher education, after the implementation of the National Strategy for Financial Education (ENEF). As for the methodology, a bibliographical survey is carried out of the scientific works published and made available on the Capes Portal and SciELO-Brasil platforms, in the period between 2011 and 2021, which address financial education as a public policy in the context of higher education. As a result, it is perceived that higher education students have largely been excluded from public policies related to this topic and Universities have acted timidly as disseminators of financial literacy and production of scientific knowledge, through academic publications that can contribute to the enhancement and expansion of ENEF's reach.

ABSENCE OF ECONOMIC INFORMATION AS A MOTIVATING FACTOR OF DISINTEREST IN THE BRAZILIAN POPULATION

The main bibliographic contribution of this work is the eminent article, by Johnston (2005), in which the importance of financial education in contemporary societies is addressed, evidencing its absence in the national context in comparison with other countries. The study will be developed through searches and literature review in physical and digital collections. The purpose of the Expanded Summary is to introduce readers to the main subject described in the title, illustrating its relevance to current societies, and the impact on the financial market. Justifies the writing of this text, the lack of public policies aimed at the introduction of children and young people in the economic sector. As a complementary theoretical model, articles by André Saito (2007), published in digital media, were used. At the end of this work, it is concluded that the Brazilian people have a relevant investment potential, however, there is still a long way to go to reach its peak of development.

Financial literacy, education and risk aversion: a survey of French students

PurposeFinancial literacy is generally seen as an important factor explaining a broader set of investment behaviors. In the context of a weak financial knowledge in France, this article focuses on the particular situation of Generation Z (individuals born after 1995) and more particularly management students likely to be involved in financial decisions in the near future.Design/methodology/approachThe analysis is based on a survey conducted in the Fall of 2019, through a questionnaire distributed to 300 students enrolled in a French business school.FindingsThe results indicate that financial knowledge is poor for students who do not follow a specialized course in finance. This research also demonstrates the importance of risk behavior, showing that risk adverse students are also those with the lowest level of financial literacy.Originality/valueThis article contributes to the academic literature by focusing on students in France. It is the first study to examine Gen Z financial literacy and its implications. It raises awareness on the importance of financial education in the education curriculum.

PENYULUHAN LITERASI KEUANGAN SEJAK DINI DI TK GEMA NURANI PEJUANG BEKASI

Education is an important investment for a child's future. Not only moral and academic education is needed, but also education on financial management. Lack of parental awareness about the importance of financial education from an early age, causes a child's lack of money management knowledge. The purpose of this Community Service (PKM) is to increase children's awareness from an early age so that they can get used to saving so they are able to manage finances, distinguish between wants and needs. Financial literacy counseling is carried out using an online method using Zoom Metting to parents of students (PAUD Group) TKIT Gema Nurani. Counseling was carried out in two meetings. The first is with Gema Conscience TKIT teachers and the second is with the parents of TKIT Gema Conscience students. Approach and Cooperation with Related Parties. This financial literacy education was successful. Furthermore, the application of financial literacy from an early age requires joint participation between teachers, parents and the PKM team so that they can increase knowledge of financial literacy from an early age and can provide benefits for kindergarten students.

Financial literacy among Finnish adolescents in PISA 2018: the role of financial learning and dispositional factors

The aim or the present study was to examine the relative importance of financial education in school and families and dispositional factors (competitiveness, work mastery, meta-cognition) in predicting financial literacy among Finnish adolescents. The data on the 4328 Finnish 15-year-olds was drawn from the PISA 2018 assessment. Financial literacy was measured by tests, and financial education and dispositional factors were assessed by adolescent questionnaires. First, the results showed that financial education in school was positively associated with adolescents’ financial literacy skills, whereas parental involvement in financial matters did not relate or related negatively to financial literacy scores. Second, dispositional factors, such as competitiveness, work mastery, and meta-cognition (effective strategies to understand/remember information, to summarize information, and to evaluate source credibility) were the strongest positive predictors of the financial literacy scores. Overall, the present study emphasizes that certain social factors (schools and families) and especially dispositional characteristics (personality/motivation and critical thinking/learning strategies) may shape the development of the financial skills of adolescents.

The General Financial Education in China: Evidence From Ratio of Undergraduate Financial Education Majors in Universities

Since the development of electronic money, the complex financial situation has raised the importance of financial education. This study focuses on universities' undergraduate financial field education coverage, which helps estimate citizens' overall financial knowledge situation for most undergraduate universities, focusing on learning the general field knowledge that is similar to primary financial thought. The study shows a low concentration of financial education majors among universities; even though the available number of majors in all universities is low, the coverage rate of financial education majors towards universities is higher than initially thought. The results point out specific majors that are worth investing in accumulating financial education in China.

The Importance of Financial Education as a Plastic Surgery Trainee and Beyond.

The Importance of Financial Education as a Plastic Surgery Trainee and Beyond.

Projeto de Educação Financeira:

Este texto se trata de um relato voltado para as experiências de docentes do Colégio de Aplicação da Universidade Federal de Viçosa (CAp-COLUNI/UFV) com o Projeto de Educação Financeira (PEF), implementado no ano de 2015. De maneira breve, faz-se um apanhado da trajetória do PEF (2015 a 2020) em paralelo a um debate que situa a importância da Educação Financeira no contexto de uma educação para a cidadania. A partir das experiências acumuladas durante esses anos de projeto, orientadas pelas temáticas trabalhadas por série “Consumismo e controle da receita” (1ª), “Taxas que Afetam as Finanças” (2ª) e “O Pensamento Financeiro de Longo Prazo” (3ª), são compartilhadas percepções de professoras e professores de Matemática acerca dos impactos das atividades tanto para as próprias práticas quanto no que se refere aos estudantes diante de tal proposta inovadora.

THE REPRESENTATIONS OF FINANCIAL EDUCATION AMONG ELEMENTARY TEACHERS IN ROMANIA: BETWEEN COGNITION AND CITIZENSHIP

This paper presents a study conducted with 83 Romanian elementary school teachers about their representations of Financial Education (FE) and the importance of teaching it in school. The teachers responded to an online survey about their perceptions and their needs to teach Financial Literacy (FL). The preliminary results show that most of the teachers recognize the importance of learning FL. Their rationale for the importance of financial education in schools range from rational arguments, to citizenships arguments with sociocultural arguments in between.

Financial literacy among malaysian households in managing income

This paper examines the level of financial literacy among Malaysian households in terms of financial knowledge in managing their income and debt, financial planning and the elements of financial management. In terms of data collection, questionnaires were distributed to households in Peninsular Malaysia (Kedah, Pulau Pinang, Perak, Selangor, Johor, Kelantan and Terengganu). Findings reveal that around 25% of Malaysians have done financial planning for their daily expenses. About 44%of the decision on spending is done by the breadwinner (man in the family) and 24% is made by both husband and wife. In terms of financial management, it is found that males are wiser in terms of managing the money. The older group has a better understanding ofmanaging their money as compared to the younger generation. The location and level of education also influence the behavior of individuals in managing their money. Thus, relevant authorities, such as Bank Negara Malaysia, need to be more aggressive in educating the public about the importance of financial education and planning.

FİNANSAL EĞİTİME BAKIŞ

This study determines the importance of financial education in contemporary societies. A review of various organizations for increasing financial education whose individual and societal importance has been internationally accepted is also offered. Towards this end initiatives undertaken by international organizations and national authorities are examined. Aspects of these initiatives that can be offered as best practices for developing nations are identified. For the Turkish case financial education examples that can be organized under public authority leadership, with NGO participation are collated. Various experiences about measuring and increasing financial literacy are examined. Among these are the implementations in Australia, Japan, England and the United States. It is put forth, in light of international experience, that increasing access to financial education and efficiency of financial services are possible through, informing, education and consulting.

Financial Literacy Status in the Villages of Kanyakumari District in Tamil Nadu State, India

Financial literacy is knowledge about finance. The importance of financial education has improved in recent years due to developments in financial markets as well as demographic, economic and policy changes in India. Financial literacy is an important adjunct for the promotion of financial inclusion and ultimately financial stability. The main objective of the study is to assess the financial literacy in the villages of Kanyakumari district. The study conducted in ten villages belonging to three blocks of Kanyakumari district. Financial literacy relates to educational status, income and frequency of operation (transaction) in positive sense. The overall satisfaction level of financial services of the customers lies in educating rural people clearly about the financial services available, how to use them and its benefits is inevitable. This would improve their usage and satisfaction level on these financial services.

중년층의 재무교육 및 퇴직태도가 노후준비인식에 미치는 영향 요인

본 연구는 앞으로 은퇴생활을 시작하게 될 중년층의 재무교육 여부 및 퇴직태도가 노후준비인식(경제적, 신체적, 정서 사회적)에 미치는 영향과 이들 변수들 간의 차이점 분석을 통한 문제점을 파악하여 중년층의 노후준비도의 개선방향을 모색하고자 하였다. 연구대상은 수도권에 거주하는 중년층 355명을 대상으로 하였으며 자료 분석은 SPSS 18.0 프로그램을 이용하여 빈도분석, 요인분석, 신뢰도분석 및 t-test, 일원 분산분석 등을 하였다. 연구내용은 퇴직을 앞둔 중년층의 휴식으로서의 전환이 경제적 노후준비와 신체적 노후준비, 정서 사회적 노후준비의 상관관계와 새로운 시작, 일의 계속, 강요된 분열의 영향요인에 관한 연구결과를 살펴보았다. 첫째, 연령이 높을수록, 기혼, 소득과 직업경력이 높을수록, 종교가 있는 경우, 건강상태가 좋을수록 경제적, 신체적 노후준비 인식이 높게 나타났다. 둘째, 중년층의 재무교육이 영역별 노후준비 인식에 미치는 영향을 알아냄으로써 사전 퇴직교육과 은퇴준비의 필요성을 알 수 있었다. 셋째, 퇴직태도는 신체적 노후준비 인식에 영향을 미쳐 자아존중과 가정의 안정 및 경제적인 면과 건강상태, 여가활동 등의 영향요인이 있음이 분석되었다. This study shows how financial education for middle-age affects their remaining life (economic, physical, emotional and social) and improves the way of preparing for their old age through 355 questionnaires using SPSS 18.0, factor analysis, t-test and ANOVA program. The results obtained are summarized as follows: Firstly, The importance of financial education has been differently perceived by the age, marital status, income and religion. Secondly, the necessity for early financial education and retirement preparation have been comprehended by analyzing the effects of the financial education on their old life. Thirdly, Attitude for retirement has affirmative effects on the self respect, economic stability and leisure activity.

Economic Well-being and Ageing: The Need for Financial Education for Social Workers

This paper explores the importance of financial education for social workers who are often working with individuals and families who are financially vulnerable and who frequently have little financial knowledge. This may be particularly relevant in light of the recent global recession and the negative impact this has had for many in terms of increased living costs and decreased income. Older people may be particularly vulnerable to the economic fluctuations caused by the recession, yet they may be disadvantaged further by poor understanding of the impact of finances on well-being from social care agencies, and a paucity of information and advice to enable them to develop improved financial literacy. This may be compounded further by increasingly strict eligibility criteria, which restrict access to services, leading to increasing numbers of older people who need to fund their own care. The objective of this paper is to highlight the need for students and practitioners to develop their own financial literacy skills so as to better enable them to support those that they work with. The discussion considers the usefulness of the ‘asset vulnerability framework’ devised by Moser in assessing the economic well-being of older people and its applicability within social work education and practice.

Learning a Pension Investment in Consideration of Liability through Business Game

While the importance of financial education is recognized in recent years, the technique for deepening an understanding to pension investment management is needed. In this research, we analyze learning method of the pension investment management in consideration of liability using the business game technique. As a result of analysis, interesting phenomena – the participant understood the learning method of the pension investment management in consideration of liability – were seen. This shows the effectiveness of the business game technique to learning the pension investment management.