Is it Important for Elementary School Students to Learn the Basics of Finance?
Abstract
Financial education is very important at all levels of education, even at the level of basic education. The purpose of this study was to determine the importance of elementary school students mastering the basic knowledge of finance. This study was conducted from May to October 2019 at SDN 1 Gandusari, Blitar Regency, East Java Province, Indonesia, and used a qualitative case study research method. This study used primary data in the form of interviews, focus group discussions (FGD) and documentation. The findings revealed the financial profile of SDN 1 Gandusari students as well as the financial behavior of students in daily life. Based on the results, it is important for policymakers, academics and practitioners in the field of basic education to include their own curriculum for financial education for elementary school students.
Keywords: elementary school student, learn, basics of finance
References
[1] Kaiser, T., & Menkhoff, L. (2017). Does financial education impact financial literacy and financial behavior, and if so, when?. The World Bank Economic Review, 31(3), 611-630.
[2] Fernandes, D., Lynch Jr, J. G., & Netemeyer, R. G. (2014). Financial literacy, financial education, and downstream financial behaviors. Management Science, 60(8), 1861-1883.
[3] Hastings, J. S., Madrian, B. C., & Skimmyhorn, W. L. (2013). Financial literacy, financial education, and economic outcomes. Annu. Rev. Econ., 5(1), 347-373.
[4] Peña-López, I. (2012). Pisa 2012 assessment and analytical framework. Mathematics, reading, science, problem solving and financial literacy.
[5] Zhu, A. Y. F. (2020). Impact of school financial education on parental saving socialization in Hong Kong adolescents. Journal of Behavioral and Experimental Economics, 87, 101557.
[6] Bover, O., Hospido, L., & Villanueva, E. (2018). The impact of high school financial education on financial knowledge and choices: Evidence from a randomized trial in Spain.
[7] Stolper, O. A., & Walter, A. (2017). Financial literacy, financial advice, and financial behavior. Journal of business economics, 87(5), 581-643.
[8] Son, J., & Park, J. (2019). Effects of financial education on sound personal finance in Korea: Conceptualization of mediation effects of financial literacy across income classes. International journal of consumer studies, 43(1), 77-86.
[9] Jonubi, A., & Abad, S. (2013). The impact of financial literacy on individual saving: An exploratory study in the Malaysian context. Transformations in Business & economics, 12(1), 41-55.
[10] Cameron, M. P., Calderwood, R., Cox, A., Lim, S., & Yamaoka, M. (2014). Factors associated with financial literacy among high school students in New Zealand. International Review of Economics Education, 16, 12-21.
[11] Cole, S. A., Sampson, T. A., & Zia, B. H. (2009). Financial literacy, financial decisions, and the demand for financial services: evidence from India and Indonesia (pp. 09-117). Cambridge, MA: Harvard Business School.
[12] Nidar, S. R., & Bestari, S. (2012). Personal financial literacy among university students (case study at Padjadjaran University students, Bandung, Indonesia). World Journal of Social Sciences, 2(4), 162-171.
[13] Kendida, B., Altsani, W., & Meliany, Y. (2017). Financial literacy and financial behavior as mesuare of financial satisfaction. In 1st Economics and Business International Conference.
[14] Keuangan, O. J. (2019). Siaran Pers Survei OJK 2019: Indeks Literasi Dan Inklusi. Jakarta: Otoritas Jasa Keuangan