Determinants of financial knowledge among adolescents
The study measures the level of financial knowledge among the adolescents in Zimbabwe, with a particular focus on secondary school pupils. Financial knowledge is critical in providing lifelong skills and knowledge for handling personal finances beyond school. A sizeable amount of previous studies u...
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| Language: | English |
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2016
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| Online Access: | http://search.proquest.com.access.msu.ac.zw:2048/pqcentral/docview/1727629421/fulltextPDF/1049BFF4552A4D5DPQ/1?accountid=145056 |
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| author | Nkomazana, Njabulo Sibanda, Mabutho Duve, Richard |
| author_facet | Nkomazana, Njabulo Sibanda, Mabutho Duve, Richard |
| author_sort | Nkomazana, Njabulo |
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| description | The study measures the level of financial knowledge among the adolescents in Zimbabwe, with a particular focus on secondary school pupils. Financial knowledge is critical in providing lifelong skills and knowledge for
handling personal finances beyond school. A sizeable amount of previous studies underscores the importance of financial knowledge in making sound financial decisions leading to financial growth and wealth accumulation. A descriptive crosssectional research design was employed, with data being collected from Gweru district’s ten secondary schools. The schools were spread across the three strata (secondary schools in low-density areas, secondary schools in high-density areas and secondary schools in rural areas). A self-administered questionnaire with 44 questions, adapted from the Jump$tart financial literacy survey, was employed to collect data and 763 students participated in the study. Results revealed that the average financial knowledge score was very low at 33.3%. The location of the school and student’s learning mode were the important determinants of financial knowledge among respondents. Financial knowledge did not vary by gender. It was concluded that secondary school pupils are less knowledgeable about financial
decision making and this will reduce their financial prosperity. Clearly, broader environmental factors such as school location and learning mode exerted the most important influence in the accumulation of financial knowledge. The study recommends that the Ministry of Education, Sport and Culture should consider introducing a compulsory subject at the Ordinary level of study so as to equip the students with the important skill in personal finance management. |
| format | Article |
| id | ir-11408-1246 |
| institution | My University |
| language | English |
| publishDate | 2016 |
| record_format | dspace |
| spelling | ir-11408-12462022-06-27T13:49:06Z Determinants of financial knowledge among adolescents Nkomazana, Njabulo Sibanda, Mabutho Duve, Richard Financial literacy, youth, secondary school pupils, Zimbabwe The study measures the level of financial knowledge among the adolescents in Zimbabwe, with a particular focus on secondary school pupils. Financial knowledge is critical in providing lifelong skills and knowledge for handling personal finances beyond school. A sizeable amount of previous studies underscores the importance of financial knowledge in making sound financial decisions leading to financial growth and wealth accumulation. A descriptive crosssectional research design was employed, with data being collected from Gweru district’s ten secondary schools. The schools were spread across the three strata (secondary schools in low-density areas, secondary schools in high-density areas and secondary schools in rural areas). A self-administered questionnaire with 44 questions, adapted from the Jump$tart financial literacy survey, was employed to collect data and 763 students participated in the study. Results revealed that the average financial knowledge score was very low at 33.3%. The location of the school and student’s learning mode were the important determinants of financial knowledge among respondents. Financial knowledge did not vary by gender. It was concluded that secondary school pupils are less knowledgeable about financial decision making and this will reduce their financial prosperity. Clearly, broader environmental factors such as school location and learning mode exerted the most important influence in the accumulation of financial knowledge. The study recommends that the Ministry of Education, Sport and Culture should consider introducing a compulsory subject at the Ordinary level of study so as to equip the students with the important skill in personal finance management. 2016-05-06T16:08:02Z 2016-05-06T16:08:02Z 2015 Article 1224-869X http://search.proquest.com.access.msu.ac.zw:2048/pqcentral/docview/1727629421/fulltextPDF/1049BFF4552A4D5DPQ/1?accountid=145056 en Studia Universitatis Babes-Bolyai OECONOMICA;Vol. 60, No.2; p. 55-65 none |
| spellingShingle | Financial literacy, youth, secondary school pupils, Zimbabwe Nkomazana, Njabulo Sibanda, Mabutho Duve, Richard Determinants of financial knowledge among adolescents |
| title | Determinants of financial knowledge among adolescents |
| title_full | Determinants of financial knowledge among adolescents |
| title_fullStr | Determinants of financial knowledge among adolescents |
| title_full_unstemmed | Determinants of financial knowledge among adolescents |
| title_short | Determinants of financial knowledge among adolescents |
| title_sort | determinants of financial knowledge among adolescents |
| topic | Financial literacy, youth, secondary school pupils, Zimbabwe |
| url | http://search.proquest.com.access.msu.ac.zw:2048/pqcentral/docview/1727629421/fulltextPDF/1049BFF4552A4D5DPQ/1?accountid=145056 |
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