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Financial literacy of high school students in the Netherlands: knowledge, attitudes, self-efficacy, and behavior

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  • Amagir, Aisa
  • Groot, Wim
  • van den Brink, Henriëtte Maassen
  • Wilschut, Arie

Abstract

We examined levels of financial literacy (knowledge, attitudes, self-efficacy, and self-reported behavior) among 15-year-old high school students in the Netherlands (N = 2025), and investigated which factors are associated with the different financial literacy components. Our findings show lower levels of financial literacy among students in the lowest track in high school, students with low mathematical ability, immigrant students, students with low SES, students with mothers without a university degree, and students who do not discuss financial matters with family and peers. Notably, our findings show a large gap in financial knowledge levels between the lowest and highest high-school tracks in the Netherlands. These findings are useful for designing effective financial education and intervention programs, and for identifying groups that may benefit the most from financial education programs.

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  • Amagir, Aisa & Groot, Wim & van den Brink, Henriëtte Maassen & Wilschut, Arie, 2020. "Financial literacy of high school students in the Netherlands: knowledge, attitudes, self-efficacy, and behavior," International Review of Economics Education, Elsevier, vol. 34(C).
    • Handle: RePEc:eee:ireced:v:34:y:2020:i:c:s1477388020300128
    DOI: 10.1016/j.iree.2020.100185
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    1. Amagir, Aisa & van den Brink, Henriëtte Maassen & Groot, Wim & Wilschut, Arie, 2022. "SaveWise: The impact of a real-life financial education program for ninth grade students in the Netherlands," Journal of Behavioral and Experimental Finance, Elsevier, vol. 33(C).
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    4. Patrik Böhm & Gabriela Böhmová & Jana Gazdíková & Viktória Šimková, 2023. "Determinants of Financial Literacy: Analysis of the Impact of Family and Socioeconomic Variables on Undergraduate Students in the Slovak Republic," JRFM, MDPI, vol. 16(4), pages 1-20, April.
    5. Silvia Mariela Méndez-Prado & Vanessa Rodriguez & Kevin Peralta-Rizzo & Patricia Everaert & Martin Valcke, 2023. "An Assessment Tool to Identify the Financial Literacy Level of Financial Education Programs Participants’ Executed by Ecuadorian Financial Institutions," Sustainability, MDPI, vol. 15(2), pages 1-24, January.
    6. Shikha Bhatia & Sonali Singh, 2024. "Exploring financial well-being of working professionals in the Indian context," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 474-487, June.
    7. Manuel Salas-Velasco, 2022. "Causal Effects of Financial Education Intervention Aimed at University Students on Financial Knowledge and Financial Self-Efficacy," JRFM, MDPI, vol. 15(7), pages 1-16, June.
    8. Muhammad Ilyas & Moeljadi & Achmad Helmy Djawahir, 2021. "The effect of financial knowledge and financial well-being on investment intention mediated by financial attitude:A study on millennial generation and Gen Z in Malang City," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 10(8), pages 175-188, December.
    9. Quoc N. Tran & Trang M. T. Phung & Nhut H. Nguyen & Tho H. Nguyen, 2024. "Financial Knowledge Matters Entrepreneurial Decisions: A Survey in the COVID-19 Pandemic," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 2274-2297, March.
    10. Dainora Gedvilaitė & Tadas Gudaitis & Giedrė Lapinskienė & Justinas Brazaitis & Jurgis Žižys & Askoldas Podviezko, 2022. "Sustainability Literacy and Financial Literacy of Young People in the Baltic States," Sustainability, MDPI, vol. 14(21), pages 1-15, October.
    11. Marco Aschenwald & Armando Holzknecht & Michael Kirchler & Michael Razen, 2023. "Determinants of Financial Literacy and Behavioral Bias among Adolescents," Working Papers 2023-01, Faculty of Economics and Statistics, Universität Innsbruck.

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    More about this item

    Keywords

    Financial literacy; Financial knowledge; Attitudes towards money; Financial behavior; High-School students; the Netherlands;
    All these keywords.

    JEL classification:

    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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