IDEAS home Printed from https://ideas.repec.org/p/wai/econwp/13-05.html
   My bibliography  Save this paper

Factors Associated with Financial Literacy among High School Students

Author

Listed:
  • Michael P. Cameron

    (University of Waikato)

  • Richard Calderwood

    (University of Waikato)

  • Ashleigh Cox

    (University of Waikato)

  • Steven Lim

    (University of Waikato)

  • Michio Yamaoka

    (Waseda University)

Abstract

Understanding the financial literacy of young people is an essential prerequisite for developing effective education programmes designed to improve young people’s understanding of personal finance. In this paper, we present results from a survey of high school students which included a financial literacy component, a financial risk tolerance assessment, and basic demographic details. Overall, we find that financial literacy is lowest among financially poorer students, those with less English ability, and those with less academic ability. However, relative poverty and lower English ability were not related to the ability to apply financial knowledge. Thus, while financial education targeted to immigrant groups and the poor may improve overall financial literacy, a broader approach remains necessary. A general form of financial literacy education, beginning at the high school level, may be the key to improving financial literacy in the population in the long term.

Suggested Citation

  • Michael P. Cameron & Richard Calderwood & Ashleigh Cox & Steven Lim & Michio Yamaoka, 2013. "Factors Associated with Financial Literacy among High School Students," Working Papers in Economics 13/05, University of Waikato.
    • Handle: RePEc:wai:econwp:13/05
    as

    Download full text from publisher

    File URL: https://repec.its.waikato.ac.nz/wai/econwp/1305.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. María José Roa García, 2013. "Financial Education And Behavioral Finance: New Insights Into The Role Of Information In Financial Decisions," Journal of Economic Surveys, Wiley Blackwell, vol. 27(2), pages 297-315, April.
    2. Alpha Research, 2010. "Financial Literacy Survey," World Bank Publications - Reports 12876, The World Bank Group.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alex Yue Feng Zhu, 2020. "Impact of Financial Education on Adolescent Financial Capability: Evidence from a Pilot Randomized Experiment," Child Indicators Research, Springer;The International Society of Child Indicators (ISCI), vol. 13(4), pages 1371-1386, August.
    2. Bachir El Murr & Genane Youness & Hala Gharib & Mayssaa Daher, 2021. "Financial literacy and individual success: Lebanese framework modeling," Post-Print hal-03295623, HAL.
    3. Tracey West & Michelle Cull, 2020. "Future Expectations and Financial Satisfaction," Economic Papers, The Economic Society of Australia, vol. 39(4), pages 318-335, December.
    4. Bharat Singh Thapa & Surendra Raj Nepal, 2015. "Financial Literacy in Nepal: A Survey Analysis from College Students," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 27(1), pages 49-74, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Azwadi Ali & Mohd Rahman & Alif Bakar, 2015. "Financial Satisfaction and the Influence of Financial Literacy in Malaysia," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 120(1), pages 137-156, January.
    2. Elisabete Santos & Margarida Abreu, 2013. "Financial Literacy, Financial Behaviour and Individuals’ Over-indebtedness," Working Papers Department of Economics 2013/11, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    3. Manuela Sofia St?nculescu, 2010. "Analysis of the Financial Literacy Survey in Romania and Recommendations," World Bank Publications - Reports 12874, The World Bank Group.
    4. Jasmina Okicic & Meldina Kokorovic Jukan & Mensur Heric, 2021. "Some Insights Into Financial Literacy Among Undergraduate Students: A Case of Bosnia and Herzegovina," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 12(3), pages 103-115, May.
    5. Xing Gao & Daniel Ladley, 2022. "Noise trading and market stability," The European Journal of Finance, Taylor & Francis Journals, vol. 28(13-15), pages 1283-1301, October.
    6. Sunitha Kumaran, 2019. "Assessing Financial Literacy of Employed and Business People in AMBO, Ethiopia: Evidence for Policy Makers," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 9(1), pages 1-3.
    7. Sirli Mändmaa, 2021. "Financial Education from the Perspective of University Students: Comparative Study," Eurasian Journal of Social Sciences, Eurasian Publications, vol. 9(3), pages 150-175.

    More about this item

    Keywords

    financial literacy; financial education; risk tolerance; New Zealand;
    All these keywords.

    JEL classification:

    • A21 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Pre-college
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wai:econwp:13/05. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Geua Boe-Gibson (email available below). General contact details of provider: https://edirc.repec.org/data/dewaknz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.