The Wealth Academy has a commitment to improving education programs that impact on the financial learning of youth.
Financial education programs should not be based on the thinking of 1, 2 or 3 decades ago and should not be institutionally biased.
Quality education should be based on current research targeted at the appropriate age-groups.
The following research project is a collaboration between The Wealth Academy, Queensland University of Technology (School of Business: Accountancy) and University of Southern Queensland (School of Law and Justice). Several universities around Australia were also supportive of the research project, allowing their first year tertiary students to be surveyed.
Research focus: Assessing perception and financial literacy of first year university students
The purpose of this project is to examine the financial literacy of university students by assessing their perception of the financial life skills programs they might have received in school and a range of contextual factors that may influence their financial capability
Enhanced understanding of the levels of financial literacy and perception of financial education would assist in the development of well-targeted education programs and provide recommendations to a range of stakeholders to better engage with cohorts of young adults
|Preliminary finding 1||
Students were asked to indicate their level of agreement with the statement:
High school has taught me financial life skills that will prepare me for adult life.
Reference: Findings prepared by QUT School of Business (Accountancy) Dr Laura de Zwaan
Although these findings are preliminary, they indicate a strong dissatisfaction with the level of financial life skills learning they received while at high school. Most respondents (65.7%) felt they exited high school unprepared for the world they were about to enter. Another 21% of respondents were neutral, which is a significant proportion in itself! Only 13.3% of students agreed or strongly agreed that school financial life skills program prepared them for their adult life.
|View our preliminary presentation of findings.||
The attached file shows some of the preliminary findings from our initial research project.
The Wealth Academy and QUT Presentation: 2015_The_Wealth_Academy_QUT_High_School_Financial_education_research.pdf (Assessing perception and financial literacy of first year university students)
Schools wishing to participate in the research program should contact The Wealth Academy.