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Defining the Predictors of Financial Literacy for High-School Students

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  • Vasiliki A. Tzora

    (Department of Business Administration, University of Piraeus, 18534 Piraeus, Greece)

Abstract

This work documents the significant predictors of financial literacy of high-school students across Greece. The results derived, from the examined aspects of financial knowledge, financial behaviour, and financial attitude, the determinants of financial literacy that high-school students demonstrated. A novel approach whereby a canonical analysis is applied to financial literacy data. The findings reveal that better-performing students, students with parents with a university degree, students’ perception of parents’ income, and students who keep records of their income and expenses are significant predictors of financial literacy. The results of this analysis should be considered when building financial education initiatives to embrace the young generation.

Suggested Citation

  • Vasiliki A. Tzora, 2025. "Defining the Predictors of Financial Literacy for High-School Students," JRFM, MDPI, vol. 18(2), pages 1-18, January.
    • Handle: RePEc:gam:jjrfmx:v:18:y:2025:i:2:p:45-:d:1572310
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    References listed on IDEAS

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    1. Annamaria Lusardi & Olivia S. Mitchell, 2014. "The Economic Importance of Financial Literacy: Theory and Evidence," Journal of Economic Literature, American Economic Association, vol. 52(1), pages 5-44, March.
    2. Sondra G. Beverly & Marianne A. Hilgert & Jeanne M. Hogarth, 2003. "Household financial management: the connection between knowledge and behavior," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Jul, pages 309-322.
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