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Financial Literacy Education with Aboriginal People: The Importance of Culture and Context

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  • Blue Levon

    (Griffith University, Mt Gravatt Campus, Brisbane, Australia)

Abstract

Learning about effective ways to manage money is a 21st century skill and the focus of financial literacy education (FLE) initiatives globally. Individuals deemed to have lower levels of financial literacy are often the targets of financial literacy workshops/programs. In this research paper the key outcomes are identified from a qualitative study that explored the FLE practices with an Aboriginal community in Canada (that the author is a member of). This includes conceptualising what influences financial decision-making and the role of culture and context in financial literacy education with a Community instead of for a Community. Discussed is the importance of adopting a praxis approach to FLE and integrating site based education development with Community members instead of imposing education on individuals. Last, outlined in this paper is how the above findings may offer insights for financial educators and/or planners participating in financial literacy education and engaging with Aboriginal clients.

Suggested Citation

  • Blue Levon, 2016. "Financial Literacy Education with Aboriginal People: The Importance of Culture and Context," Financial Planning Research Journal, Sciendo, vol. 2(2), pages 91-105.
    • Handle: RePEc:vrs:finprj:v:2:y:2016:i:2:p:91-105:n:1002
    DOI: 10.2478/fprj-2016-0006
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    References listed on IDEAS

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    1. Annamaria Lusardi, 2015. "Financial Literacy Skills for the 21st Century: Evidence from PISA," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(3), pages 639-659, November.
    2. Annamaria Lusardi & Olivia S. Mitchell, 2014. "The Economic Importance of Financial Literacy: Theory and Evidence," Journal of Economic Literature, American Economic Association, vol. 52(1), pages 5-44, March.
    3. Dowler, Elizabeth, 1997. "Budgeting for food on a low income in the UK: the case of lone-parent families," Food Policy, Elsevier, vol. 22(5), pages 405-417, October.
    4. William Bosshardt & William B. Walstad, 2014. "National Standards for Financial Literacy: Rationale and Content," The Journal of Economic Education, Taylor & Francis Journals, vol. 45(1), pages 63-70, March.
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