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Developing Financial Literacy Instruments for Youth: An Indonesian Context

In: Proceedings of the 8th Global Conference on Business, Management, and Entrepreneurship (GCBME 2023)

Author

Listed:
  • Siti Parhah

    (Universitas Pendidikan Indonesia)

  • Leni Permana

    (Universitas Pendidikan Indonesia)

  • Dadang Dahlan

    (Universitas Pendidikan Indonesia)

Abstract

Many people still experience fraud in using various financial products and services, showing the importance of increasing financial literacy from a young age. In order to measure the level of financial literacy of young people in Indonesia and determine appropriate measures to improve it so that they can make better financial decisions, it is important to develop standardised financial literacy instruments that are in accordance with regulations and conditions in Indonesia. Using research and development methods, this research has produced a comprehensive financial literacy instrument consisting of 30 items. Content includes money and transactions, planning and managing finances, risk and reward, and financial landscape. The cognitive process includes identifying financial information, analysing information in a financial context, evaluating financial issues, and applying financial knowledge and understanding context consists of individuals, families, and society. Item format consists of simple multiple-choice with a single response selection, complex multiple-choice with multiple response selections, and open response.

Suggested Citation

  • Siti Parhah & Leni Permana & Dadang Dahlan, 2024. "Developing Financial Literacy Instruments for Youth: An Indonesian Context," Advances in Economics, Business and Management Research, in: Ratih Hurriyati & Lili Adi Wibowo & Sulastri Sulastri & Lisnawati Lisnawati (ed.), Proceedings of the 8th Global Conference on Business, Management, and Entrepreneurship (GCBME 2023), pages 306-311, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-443-3_41
    DOI: 10.2991/978-94-6463-443-3_41
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