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Measuring financial literacy of children aged 4 to 6 years: design and small-scale testing

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posted on 2022-08-03, 07:55 authored by Timothy Jay, Sara Rashid, Iro Xenidou-DervouIro Xenidou-Dervou, Korbinian MoellerKorbinian Moeller

This project aimed to develop and test a measure of four to six year old children’s financial literacy, defined here as a combination of children’s understanding of concepts connected with money management and finance and their ability to describe their own experiences of situations involving money. In this report, we outline the background to the project and review the research literature on young children’s knowledge, understanding and experience of money and finance. We then discuss our approach to the design of a measure of financial literacy and describe a small-scale evaluation study we conducted using the newly developed measure. Finally, we discuss recommendations for next steps with the measure.

Funding

Money and Pensions Service

History

School

  • Science

Department

  • Mathematics Education Centre

Publisher

Money and Pensions Service

Version

  • VoR (Version of Record)

Rights holder

© The Authors

Publisher statement

MaPS has commissioned Loughborough University to carry out ground-breaking qualitative research to explore how a set of materials to measure the financial literacy of four to six-year-old children can be most effectively designed.

Publication date

2022-07-26

Copyright date

2022

Language

  • en

Depositor

Prof Tim Jay. Deposit date: 26 July 2022

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