What Do Children with Above-Average Abilities Understand About Financial Literacy?

Santos, Eulália; Tavares, Fernando Oliveira; Maurício, Cátia

http://hdl.handle.net/10400.8/13556

Use this identifier to reference this record.

Name:	Description:	Size:	Format:
jrfm-18-00254.pdf		1.35 MB	Adobe PDF	Download

Send Feedback

Authors

Santos, Eulália

Tavares, Fernando Oliveira

Maurício, Cátia

Abstract(s)

Metaphors help to simplify complex concepts, making them more accessible and understandable for children. Children can build a more concrete understanding of these concepts by associating abstract financial ideas with familiar situations or objects. The present study aims to explore what children with above-average abilities understand by financial literacy, using words and images as tools of expression. During a workshop, 22 children with above-average abilities participated in two tasks, one individual and one group task. The results showed that “save” (90.9%), “money” (63.9%), “invest” (59.1%), and “bank” (54.5%) are the words most strongly associated with the concept of financial literacy among the children. Regarding images, money (M = 1.77), a clock or calendar (M = 2.50), a pig (M = 2.75), and a house (M = 2.84) were identified as the most representative symbols of financial literacy for this group of children. In the group task, children perceive financial literacy mainly as managing and using money to satisfy needs and desires. The results can inform educators about the need to adapt educational materials to match children’s level of understanding better, promoting more effective and accessible financial education.

Keywords

Financial education Financial literacy Decision-making Saving Money

URI

http://hdl.handle.net/10400.8/13556

Citation

Santos, E., Tavares, F. O., & Maurício, C. (2025). What Do Children with Above-Average Abilities Understand About Financial Literacy? Journal of Risk and Financial Management, 18(5), 254. https:// doi.org/10.3390/jrfm18050254