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

Michael Cameron, Richard Calderwood, Ashleigh Cox, Steven Lim and Michio Yamaoka

International Review of Economics Education, 2014, vol. 16, issue PA, 12-21

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.

Keywords: Financial literacy; Financial education; Risk tolerance; High school; New Zealand (search for similar items in EconPapers)
JEL-codes: A21 D14 (search for similar items in EconPapers)
Date: 2014
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