Essay & Annotated Outline "Factors That Shape the Financial Literacy in Youth"

Abstract

An explanatory field study by de Clercq named, "Do our children know anything about money?", is vivid in illustrating financial literacy among youths in relation to how they spend money. The discussion in the Clercq's article raises the topic of why the youths do not consider saving enough cash to cater for additional financial needs and for retirement. The study evaluates the discussion on the bases of gender, age, and the pocketmoney given to student by parents/guardians. The article is beneficial to the discussion because it outlines the impacts of financial literacy on learners.
Klein, L., & Mandell, Lewis came up with an article titled, "The Impact of Financial Literacy Education on Subsequent Financial Behavior."

The article used a sample of seventy-nine students in high school studying courses under financial management, who cleared about one to four years earlier. The results of the findings proved poor financial management for students who did not attend financial management classes. Alternatively, every student who attended the financial classes was financially literate. Ironically, such students did not show high grades as highest savers neither did they show proper utilization of finances. The questions rose in Klein and Lewis article is whether the financial management courses reduce financial illiteracy.