Broadening generic skills development: improving financial literacy of university students

Palm, Chrisann and de Zwaan, Laura and Chardon, Toni (2015) Broadening generic skills development: improving financial literacy of university students. In: RMIT Accounting Educators’ Conference 2015: Responding to Challenges: The Future of Accounting Education, 23 Nov 2015, Melbourne, Australia.

Abstract

Research has demonstrated the importance of financial literacy as one of the key life skills for sound financial decision-making. Despite the vast availability of educational resources,young adults were consistently found to have low levels of financial capability. Of particular concern is that many of these young people do not have adequate money skills to manage their freedom during university time, which may contribute to suboptimal financial behaviours. This study surveyed university students by assessing their financial literacy and perception of the financial education they received in school. Illiteracy across different domains of financial topics was evident. Results also indicate that majority of respondents viewed that high school has not taught them financial knowledge that will prepare them for adult life. Accordingly, it is proposed that graduate skills development in higher education should be broadened to incorporate financial literacy to help university students to navigate the financial maze.


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Item Type: Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)
Refereed: No
Item Status: Live Archive
Additional Information: Files associated with this item cannot be displayed due to copyright restrictions.
Faculty / Department / School: Current - Faculty of Business, Education, Law and Arts - School of Law and Justice
Date Deposited: 30 Jun 2016 03:24
Last Modified: 18 Jan 2018 05:08
Uncontrolled Keywords: financial literacy; money skills; graduate skills development
Fields of Research : 15 Commerce, Management, Tourism and Services > 1501 Accounting, Auditing and Accountability > 150199 Accounting, Auditing and Accountability not elsewhere classified
13 Education > 1302 Curriculum and Pedagogy > 130203 Economics, Business and Management Curriculum and Pedagogy
Socio-Economic Objective: E Expanding Knowledge > 97 Expanding Knowledge > 970115 Expanding Knowledge in Commerce, Management, Tourism and Services
URI: http://eprints.usq.edu.au/id/eprint/28683

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