About this paper

Appears in:
Pages: 2295-2302
Publication year: 2013
ISBN: 978-84-616-3847-5
ISSN: 2340-1095

Conference name: 6th International Conference of Education, Research and Innovation
Dates: 18-20 November, 2013
Location: Seville, Spain

FINANCIAL LITERACY IN BRAZIL: USE OF MONEY, CONSUMPTION AND SAVINGS BEHAVIOR AMONG STUDENTS OF A PUBLIC AND A PRIVATE SCHOOL

B.S. Oliveira Rocha1, C.E. Freitas Costa2, C. Sayuri Cortes Ouchi Dusi1, F. Pereira Soares1

1Universidade Federal de Juiz de Fora (UFJF) (BRAZIL)
2FAMINAS (BRAZIL)
In recent years, the need to include contents related to Financial Education in Basic Education in Brazil has been discussed. Given the new conditions of Brazilian economy, not only after a period of good economic growth, but also with a major expansion of credit and purchasing power of the population, many argue the urgency of changes in the curriculum of schools, with the immediate incorporation of such matters. Furthermore, in Brazil, it can be said that the education system almost ignores the subject "Money." After coping with inflation for many decades, Brazilian people have not developed a financial planning culture and that may be due to a lack of solid Financial Education. Given this situation, Brazilian government instituted in the year 2010 the National Strategy for Financial Education (ENEF in Portuguese), a public policy that intends to help the development of financial education activities in schools that join the program, based on the exploitation of didactic situations presented in specific material developed for this purpose for teachers and students. The present work aims to study the level of financial literacy in schools that will adopt the program, to measure students' from the 5th to 9th grade prior knowledge on issues related to the use of the money and to verify habits linked to consumption, savings and debt. For this, two schools were selected, one public and one private.

The questionnaire sought to find:
(1) the level of financial literacy, dimension for which was built a performance index, having been treated as a dependent variable in the research,
(2) a measure of the student’s autonomy in financial matters
(3) the measure of intention to save, index produced from the understanding of beliefs, attitudes and perceived control associated with the act of regularly saving some money.

The results point to a low access to knowledge related to the use of money and high dependence on the family with regard to access to financial information. It was also mentioned that schools, so far, superficially address issues related to the use of money. In addition, differences were found in the consumption and savings habits among students from public and private schools.
@InProceedings{OLIVEIRAROCHA2013FIN,
author = {Oliveira Rocha, B.S. and Freitas Costa, C.E. and Sayuri Cortes Ouchi Dusi, C. and Pereira Soares, F.},
title = {FINANCIAL LITERACY IN BRAZIL: USE OF MONEY, CONSUMPTION AND SAVINGS BEHAVIOR AMONG STUDENTS OF A PUBLIC AND A PRIVATE SCHOOL},
series = {6th International Conference of Education, Research and Innovation},
booktitle = {ICERI2013 Proceedings},
isbn = {978-84-616-3847-5},
issn = {2340-1095},
publisher = {IATED},
location = {Seville, Spain},
month = {18-20 November, 2013},
year = {2013},
pages = {2295-2302}}
TY - CONF
AU - B.S. Oliveira Rocha AU - C.E. Freitas Costa AU - C. Sayuri Cortes Ouchi Dusi AU - F. Pereira Soares
TI - FINANCIAL LITERACY IN BRAZIL: USE OF MONEY, CONSUMPTION AND SAVINGS BEHAVIOR AMONG STUDENTS OF A PUBLIC AND A PRIVATE SCHOOL
SN - 978-84-616-3847-5/2340-1095
PY - 2013
Y1 - 18-20 November, 2013
CI - Seville, Spain
JO - 6th International Conference of Education, Research and Innovation
JA - ICERI2013 Proceedings
SP - 2295
EP - 2302
ER -
B.S. Oliveira Rocha, C.E. Freitas Costa, C. Sayuri Cortes Ouchi Dusi, F. Pereira Soares (2013) FINANCIAL LITERACY IN BRAZIL: USE OF MONEY, CONSUMPTION AND SAVINGS BEHAVIOR AMONG STUDENTS OF A PUBLIC AND A PRIVATE SCHOOL, ICERI2013 Proceedings, pp. 2295-2302.
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