Financial literacy of high school students: Evidence from Germany

Carsten Erner, Michael Goedde-Menke and Michael Oberste

The Journal of Economic Education, 2016, vol. 47, issue 2, 95-105

Abstract: After graduating high school, underage individuals soon face ever more complex and important financial decisions. Pivotal to the development of improved financial literacy programs is a comprehensive examination of financial literacy levels and potentially related factors. The authors conducted a survey among German high school students and found similarly weak performances on standard financial literacy measures as have been documented for other samples. Female students and those with a low level of integration exhibit significantly lower financial literacy across measures. Additionally, basic financial literacy is related to mathematical skills, while sophisticated financial literacy is related to a student's general cognitive aptitude and foreign language skills. Subpopulations identified by these factors should be given attention in the development of more targeted financial literacy programs.

Date: 2016
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Citations: View citations in EconPapers (17)

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DOI: 10.1080/00220485.2016.1146102

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