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Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/8511

Title: Financial literacy among Senior High School Students evidence from Ghana
Authors: Opoku, Armstrong
Issue Date: 6-Apr-2016
Abstract: The study assesses the level of financial literacy of Senior High School students in the Kumasi Metropolis. The study surveyed 320 students to investigate their level of financial literacy through the administration of questionnaires. Findings from the study reveal that students need to improve their personal finance knowledge. The results show that the students answered about 48.7% of the questions correctly. The results also reveal that many of the students are seen to be familiar with issues relating to simple interest, compounding and loan guarantee. In contrast, the students are less knowledgeable and inexperienced with issues concerning personal financial planning, budgeting and overdraft. The incompetency exhibited by the senior high school students therefore limits their ability to make sound financial decisions and hence more likely to have financial related issues in the real world. The low level of financial literacy could also make small financial issues become overwhelming which could turn into financial stress and consequently affects the other aspects of live such as personal relationships or performance at work. The low level of financial literacy and its consequences then shows the need for stakeholders in educational system to put policies in place to ensure that the level of financial literacy among senior high students in Ghana is improved since financial literacy has essential implication for future behavior. It is recommended that personal finance literacy course is well elaborated in the academic curriculum of senior high schools. Also, the national financial literacy week should be extended to school as workshops to encourage student‟s participation in financial literacy.
Description: A thesis submitted to department of accounting and Finance, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirement for the degree of Masters in Business Administration (Finance), 2015
URI: http://hdl.handle.net/123456789/8511
Appears in Collections:College of Arts and Social Sciences

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