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Financial Education of Children and Youth

Author

Listed:
  • Nikola Fabris

    (Central Bank of Montenegro and Faculty of Economics, Belgrade)

  • Radoica Luburić

    (Central Bank of Montenegro)

Abstract

More and more individuals are becoming overindebted and facing difficulties in managing personal finance. On the other hand, financial products are becoming more and more complex, with numerous concealed risks. The level of financial literacy of youth and children is unsatisfactory both in the region and globally. Such a situation could lead to personal problems (financial distress), aggravated financial stability, with reverse adverse implications on economic growth. Many international studies have also confirmed these hypotheses. The aim of this paper is to point to the importance of financial education of youth and children, as well as to give some guidance on how to develop a national programme for increasing financial literacy. The paper develops a five-step programme with the main topics covering the drafting of a national strategy for developing financial literacy of youth and children and its implementation.

Suggested Citation

  • Nikola Fabris & Radoica Luburić, 2016. "Financial Education of Children and Youth," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 5(2), pages 65-79.
    • Handle: RePEc:cbk:journl:v:5:y:2016:i:2:p:65-79
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    File URL: http://www.cbcg.me/repec/cbk/journl/vol5no2-3.pdf
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    Citations

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    Cited by:

    1. Jiachen Nan, 2021. "The General Financial Education in China: Evidence From Ratio of Undergraduate Financial Education Majors in Universities," Technium Social Sciences Journal, Technium Science, vol. 24(1), pages 302-316, October.
    2. Abdul Halim Masnan & April Ann M. Curugan, 2016. "Financial Education Program for Early Childhood Education," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 6(12), pages 113-120, December.

    More about this item

    Keywords

    Financial Education; Children; Youth; Programme; National Strategy.;
    All these keywords.

    JEL classification:

    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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