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Factors associated with financial literacy among high school students in New Zealand

Author

Listed:
  • Cameron, Michael P.
  • Calderwood, Richard
  • Cox, Ashleigh
  • Lim, Steven
  • Yamaoka, Michio

Abstract

Understanding financial literacy among young people is essential for developing effective financial education programmes. We present results from a sample of New Zealand high school students. Holding all else constant, we find that financial literacy is lowest among financially poorer students, those with less English ability, and those with less mathematical ability. However, relative poverty and lower English ability were not related to financial literacy at the highest cognitive level, i.e. the ability to apply financial knowledge. Thus, financial literacy education beginning at the high school level may be the key to improving financial decision-making in the population.

Suggested Citation

  • Cameron, Michael P. & Calderwood, Richard & Cox, Ashleigh & Lim, Steven & Yamaoka, Michio, 2014. "Factors associated with financial literacy among high school students in New Zealand," International Review of Economics Education, Elsevier, vol. 16(PA), pages 12-21.
    • Handle: RePEc:eee:ireced:v:16:y:2014:i:pa:p:12-21
    DOI: 10.1016/j.iree.2014.07.006
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    Citations

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    Cited by:

    1. Oberrauch, Luis & Kaiser, Tim, 2020. "Economic competence in early secondary school: Evidence from a large-scale assessment in Germany," International Review of Economics Education, Elsevier, vol. 35(C).
    2. Kwee Kim Peong, 2019. "Determinants of Personal Financial Literacy among Young Adults in Malaysian Accounting Firms," GATR Journals gjbssr524, Global Academy of Training and Research (GATR) Enterprise.
    3. Lopus, Jane S. & Amidjono, Dwi Sulistyorini & Grimes, Paul W., 2019. "Improving financial literacy of the poor and vulnerable in Indonesia: An empirical analysis," International Review of Economics Education, Elsevier, vol. 32(C), pages 1-1.
    4. Thomas A. Hanson, 2022. "Family Communication, Privacy Orientation, & Financial Literacy: A Survey of U.S. College Students," JRFM, MDPI, vol. 15(11), pages 1-13, November.
    5. Hugo Reis & Lara Wemans, 2022. "Financial literacy of 15 years-old in Portugal: Evidence from PISA 2018," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    6. Adam Ndou, 2023. "Parental Financial Socialisation and Financial Knowledge: A Structural Equation Modelling Analysis," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 16(1), pages 27-39, October.
    7. Adam Ndou, 2023. "The Impact of Parental Financial Socialisation on Financial Decision-Making of Young Black African Adults in Rural and Low-Income Area in South Africa," International Journal of Economics and Financial Issues, Econjournals, vol. 13(4), pages 84-91, July.
    8. repec:mth:ijafr8:v:8:y:2018:i:4:p:533-554 is not listed on IDEAS
    9. Kiliyanni, Abdul Latheef & Sivaraman, Sunitha, 2016. "The perception-reality gap in financial literacy: Evidence from the most literate state in India," International Review of Economics Education, Elsevier, vol. 23(C), pages 47-64.
    10. Adam Ndou & Sam Ngwenya, 2022. "The Influence of Parental Financial Socialization on Young Black African Adults’ Financial Behavior," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 10(4), pages 120-134.
    11. Sheza Riaz & Hadi Hassan Khan & Bilal Sarwar & Wahab Ahmed & Noor Muhammad & Sajjida Reza & Sheikh Muhammad Nabeel Ul Haq, 2022. "Influence of Financial Social Agents and Attitude Toward Money on Financial Literacy: The Mediating Role of Financial Self-Efficacy and Moderating Role of Mindfulness," SAGE Open, , vol. 12(3), pages 21582440221, August.
    12. Amagir, Aisa & Groot, Wim & van den Brink, Henriëtte Maassen & Wilschut, Arie, 2020. "Financial literacy of high school students in the Netherlands: knowledge, attitudes, self-efficacy, and behavior," International Review of Economics Education, Elsevier, vol. 34(C).

    More about this item

    Keywords

    Financial literacy; Financial education; Risk tolerance; High school; 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

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