Developing Financial Literacy Instruments for Youth: An Indonesian Context

Siti Parhah (), Leni Permana and Dadang Dahlan
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Siti Parhah: Universitas Pendidikan Indonesia
Leni Permana: Universitas Pendidikan Indonesia
Dadang Dahlan: Universitas Pendidikan Indonesia

A chapter in Proceedings of the 8th Global Conference on Business, Management, and Entrepreneurship (GCBME 2023), 2024, pp 306-311 from Springer

Abstract: 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.

Keywords: Financial Literacy; Instruments; Youth (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-443-3_41

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DOI: 10.2991/978-94-6463-443-3_41

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