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Financial Education Program for Early Childhood Education

Author

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  • Abdul Halim Masnan
  • April Ann M. Curugan

Abstract

Educators, school reformers, and others even consider financial education as one of the 21st century skills that should be taught and instilled among students. Learning theories such as cognitive learning theory by Jean Piaget, discovery learning of Jerome Bruner, and social learning theory of Albert Bandura can all be utilized to promote financial education in early childhood. Teaching financial education in schools starts the process of preparing children to become competent consumers and managers of household wealth. Moreover, the school system provides an effective way to reach children and teach them about personal finance. Children need more specific skills, attitudes, and fundamental knowledge about financial literacy now more than ever, because of changes in employment patterns, retrenchments, and the high unemployment rate in several countries. Still others point to the need for developing a feasible, efficient, and effective financial education program that could arrest the pressing need to raise the financial education of children.

Suggested Citation

  • 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.
    • Handle: RePEc:hur:ijarbs:v:6:y:2016:i:12:p:113-120
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    References listed on IDEAS

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    1. 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.
    2. Justine S. Hastings & Brigitte C. Madrian & William L. Skimmyhorn, 2013. "Financial Literacy, Financial Education, and Economic Outcomes," Annual Review of Economics, Annual Reviews, vol. 5(1), pages 347-373, May.
    3. J. Michael Collins & Elizabeth Odders-White, 2015. "A Framework for Developing and Testing Financial Capability Education Programs Targeted to Elementary Schools," The Journal of Economic Education, Taylor & Francis Journals, vol. 46(1), pages 105-120, March.
    4. Margaret Sherraden & Lissa Johnson & Baorong Guo & William Elliott, 2011. "Financial Capability in Children: Effects of Participation in a School-Based Financial Education and Savings Program," Journal of Family and Economic Issues, Springer, vol. 32(3), pages 385-399, September.
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