Does formal and business education expand the levels of financial education?

Abstract

Purpose

Financial education has become an essential component of the economic balance for families, and much is being discussed about the methods, which raise the levels of financial education of the population. Thus, the overall objective of this study was to evaluate the effect of formal and business education on the level of financial education.

Design/methodology/approach

This research is characterized as a quasi-experimental study, with undergraduate students. As a data collection technique, a structured questionnaire was used.

Findings

The results confirm the importance of formal and business education, as well as gender, for the financial education of individuals. More specifically, being male and having contact with a greater number of financial disciplines increase the level of financial education of the individual.

Originality/value

This article demonstrated that the trajectory of the knowledge traversed by individuals within the same level of schooling is of paramount importance. The results show that formal and business education can improve the levels of financial education and reinforce the relevance of strategic actions in this area.

Citation

Paraboni, A.L., Soares, F.M., Potrich, A.C.G. and Vieira, K.M. (2020), "Does formal and business education expand the levels of financial education?", International Journal of Social Economics, Vol. 47 No. 6, pp. 769-785. https://doi.org/10.1108/IJSE-09-2019-0596