"Research Findings:" This study examined the financial literacy of 5 and 6-year-old children in Shanghai, including their understanding of financial concepts and their preference for and ability to use digital payment methods. Using a mixed-methods research design, a sample of children ranging in age from 62 to 73 months completed…

Financial literacy refers to the knowledge required for individuals to make financial decisions. When individuals' subjective assessment of their financial literacy does not align with their actual level of financial knowledge (i.e., the discrepancy between subjective and objective financial literacy), it can result in a range of adverse…

There is a growing awareness of the importance of financial management skills. However, few studies have systematically examined this topic in China's current higher education (HE) system. In this study, we examine whether enrolling in a finance-related program, either as a degree program or as an elective, improves students' financial literacy…

Financial literacy is a competence that extends to many aspects of everyday life. The Great Recession has recently highlighted its relevance and the importance of financial literacy training in the school curricula. The authors use PISA 2015 data to investigate the link between financial education and young people's financial literacy across 15…

The purpose of this article is to explain the construction of, and potential uses of, a conceptual framework for financial literacy education that has been constructed upon key information drawn from literature reviews of financial literacy education as presented in countries with developed or developing policies and practice in the area. The…

There is a growing awareness of the importance of financial education and literacy in personal economic success, yet not many Generation Z are proficient in this area. The lack of understanding can lead to consequences such as not recognizing the need for greater retirement savings, making poor spending decisions, or when overpaying off…

Financial literacy scales are often used as a diagnostic tool to assess financial knowledge levels among various populations, although few of them have undergone empirical testing. This study utilized exploratory factor analysis (EFA) with a sample of Chinese rural migrant workers to identify the underlying structure of a financial literacy scale…

This paper studies how students' financial literacy affects their perceptions of returns to schooling and consequently their schooling decisions. We first propose a model of human capital accumulation where financially illiterate students exhibit a cognitive bias of "ironing heuristic." With this decision heuristic, students tend to…

With rapid economic development, financial literacy plays an increasingly important role in helping individuals navigate the complexities of modern financial systems and products. The importance of financial literacy is particularly pronounced in China, one of the largest economies in the world, especially for university students who are…

The "campus loans" crisis has highlighted the importance of financial literacy among Chinese college students. Based on an analysis of 2,266 valid questionnaires, this study utilized survey data and logistic regression to examine the correlations between demographic and behavioral factors and financial literacy among students. The…