Are Our Children Financially Illiterate? The Case in Kedah

Abstract

The main objective of this paper is to identify the level of children financial literacy in Kedah and analyze the significant factors that influenced their level of financial literacy. This study surveyed 320 primary school students in Kedah, aged from 7 to 12 years old using mixed method. Results shows that children in Kedah is financially literate. Besides that, there are significant different in children financial literacy according to their parent education level, parental income, student class group and school location. Based on regression results, showed that saving behavior, spending behavior, peer role, school involvement, parent role, and technology are significantly influence children financial literacy.