A Review of Prerequisites for Financial Literacy Education for Children and Youth

• In Event: AERA Virtual Poster Session
  In Virtual Poster Session: SIG-Fiscal Issues, Policy and Education Finance Virtual Poster Session

Abstract

This review was conducted to examine prerequisites for financial literacy education for children and youth. Results identified prerequisites regarding key components of financial literacy definitions, teachers and parents. With regards to children and youth, the range of key components are wider covering elements in cognitive, affective and psychomotor domains. In contrast, key components for adults are more in-depth entailing complicated and specific financial concepts and principles. Teachers and parents are two vital financial socialization agents in financial education. Practical and policy implications to actively involve the financial socialization agents in financial education are discussed.

Authors

• Qianying Xuan, The Chinese University of Hong Kong
  Presenting Author

• Alan C. K. Cheung, The Chinese University of Hong Kong
  Non-Presenting Author