Financial Literacy in School:
A Descriptive Correlation Study of the Absence of Financial Literacy Taught in Schools
A Dissertation Presented in Partial Fulfillment
of the Requirements for the Degree
Doctor of Education
ABSTRACT
DEDICATION
[To be indented and completed upon full dissertation completion]
ACKNOWLEDGMENTS
[To be indented and completed upon full dissertation completion]
TABLE OF CONTENTS
Contents Page
List of Tables x
List of Figures x
Preface (optional) x
Chapter 1: Introduction x
Background of the Problem x
Problem Statement x
Purpose of the Study x
Population and Sample x
Significance of the Study x
Nature of the Study x
Research Questions/Hypotheses x
Theoretical or Conceptual Framework x
Definition of Terms x
Assumptions, Limitations, and Delimitations x
Chapter 2: Literature Review x
Title Searches and Documentation x
Historical Content x
Current Content x
Theoretical or Conceptual Framework Literature x
Methodological Literature x
Research Design Literature x
Conclusions x
Chapter Homework help – Summary x
Chapter 3: Research Methodology x
Research Method and Design Appropriateness x
Research Questions/Hypotheses x
Population and Sample x
Informed Consent and Confidentiality x
Instrumentation x
Field Test or Pilot Test x
Credibility and Transferability or Validity and Reliability x
Data Collection x
Data Analysis x
Chapter Homework help – Summary x
Chapter 4: Analysis and Results x
Research Questions/Hypotheses x
Data Collection x
Demographics x
Pilot Study x
Data Analysis x
Results x
Chapter Homework help – Summary x
Chapter 5: Conclusions and Recommendations x
Research Questions/Hypotheses x
Ace my homework – Write my paper – Online assignment help tutors – Discussion of Findings x
Limitations x
Recommendations for Leaders and Practitioners x
Recommendations for Future Research x
Chapter Homework help – Summary x
References x
Appendix A: Title x
Appendix B: Title x
Appendix C: Title x
LIST OF TABLES
Table 1: Title x
Table 2: Title x
[Only include a list of tables if there are two or more tables. Use title case, defined as capitalizing keywords, for table titles.]
LIST OF FIGURES
Figure 1: Title x
Figure 2: Title x
[Only include a List of Figures if there are two or more figures. Use title case, defined as capitalizing keywords, for figure titles.]
UNIVERSITY OF PHOENIX
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Introduction
Education about financial literacy is an important subject that could help students handle money at school and in the professional world. Students who acquire this knowledge are different from those without because they would make sound financial decisions to avoid common financial inaccuracies. As Amagir et al. (2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online) discovered in their research, individuals who lack financial literacy make errors when paying their financial obligations. As a result, the emphasis of this study will be on the financial education gaps that exist in schools, the repercussions of these gaps, and possible remedies. This article provides concise and detailed information on research that focuses on the gap between financial education and its incorporation into schools.
As a result of their efforts, both informed young people and the global society gain from financial literacy instruction and adoption. According to Amagir et al. (2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online), financial education is characterized as the capacity to make appropriate financial judgments in the face of adversity. Teaching children about financial education tools may assist them in developing more skills and judgment while dealing with money in school. A bright future is established when youngsters are educated about personal money and financial literacy (Amagir et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). With a financial education in place, the first thing students shall do before gambling with their money is to recall the essential concepts of financial management they will have learned from school. The main ticket towards living a debt-free life is being knowledgeable about financial management, which can only be achieved through lessons taught in classes. Youths have always manifested confidence in the way they use money, and in fact, most of them believe they are knowledgeable concerning the use of money. However, in real life, the youth struggle with planning their finances, which predisposes them to a life full of debts while they are still young (Amagir et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). This excessive confidence and state of awareness held by individuals are barriers that need to be cleared out through financial education.
There are different programs that a typical school should implement to help train and educate students on matters related to finance. However, most schools focus on programs that emphasize practical didactics and theory-based (Blue & Grootenboer, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). Most of these didactics are based on benefit plans, which do not fully cover the main concepts of financial literacy. The school’s students and members (principals, administrators, teachers, housekeepers, secretaries, police officers, guidance counselors, cafeteria workers) hold some level of misconception about financial literacy.
Background of the Problem
Large numbers of children and teenagers have ongoing money management challenges as a result of a lack of financial knowledge and comprehension. Therefore, individuals establish awful money habits and become unable to efficiently manage their funds in the future. When it comes to young people, inadequate budgets are usually often the result of bad financial habits, which are driven by a lack of financial literacy. According to Amagir et al., it is projected that 20 percent of high school seniors who participate in savings programs or open savings accounts will graduate with financial discipline and literacy skills (2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). Their concern is that as their children get older, they will be unable to comprehend the fundamentals of saving, spending, and earning money, as well as the fundamentals of checking and balancing their checkbooks and bank accounts (Faulkner, 2017). Education in financial literacy is becoming more important for children as they learn to be self-sufficient, take responsibility, be independent, and be accountable for their actions.
Students who have received financial education have a basic awareness of the financial markets, investment opportunities, and financial planning after completing the program. Student debt, which is becoming a more serious issue for young people as the years pass, will be avoided as a result of this. Financial management methods are clearly identifiable, especially when dealing with specialists who are well-informed and well-prepared, while some financial management strategies are more difficult to detect. Because they will anticipate dangers and argue-justify issues relevant to their academic endeavors, financially savvy students are more likely to engage in a dispute with educated and informed persons (Amagir et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). Since individual financial well-being has a huge impact on the economy, it is more vital than ever to polarize financial knowledge inside educational institutions.
The research demonstrates that an alarmingly significant proportion of individuals are prone to spiraling debt and financial traps. This fact is because the existing educational system devotes little to no time studying such concepts (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). This idea is because a sizable proportion of teens and adolescents cannot make appropriate financial judgments. This fact is because educational institutions have a learning gap. Due to their incapacity to grasp how certain financially complex situations work, people make judgments that unintentionally jeopardize their financial prospects (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online).
It is necessary to comprehend the burden that it alleviates and how it helps to the growth of a nation or family To implement financial education successfully,. Due to the fact that prudent financial management results in increased benefits for a family and the avoidance of debt and associated instruments (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). This might be seen as an investment in human capital, with the objective of ensuring that the necessary choices are made to ensure that financial commitments are properly understood. As the modern world has become increasingly difficult in terms of how it conducts business and enterprise, it is critical to have a basic grasp of financial education (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online).
One of the most critical components of education is the policies that school boards enact, as well as the availability of education to all children. This is because while deciding whether to include financial literacy teaching in school curricula, one of the factors to examine is the long-term benefit that such education will give (Faulkner, 2017). The lack of this education has resulted in a lack of awareness about the extent to which financial choices should be considered while planning for the future, as well as the long-term ramifications of such choices. Understanding our own knowledge and behavior is one of the most fundamental ways in which we can predict which actions to avoid and which to engage in in order to make acceptable judgements (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). To gain such benefits, it is critical to acquire the necessary information and to take focused action.
Positive attitudes and self-confidence are also useful when confronted with financial troubles. This is because they play a critical role in ensuring that decisions are made in a rational manner and are not based on inaccurate or misleading information. Obviously, this can only be accomplished via vigilance and ensuring that decisions made reflect both short- and long-term advantages (Faulkner, 2017). As a consequence, present and future financial choices made with financial education in mind may contribute to a decrease in the number of financial errors made throughout maturity and adolescence, which would benefit everyone.
Problem Statement
According to the thesis statement, the topic of the research paper is the issue of financial illiteracy among young people. The research paper will be written in the third person. Compared to past generations, a greater proportion of teens and young people now lack the financial discipline that should have been taught in financial education courses in the first place. Financial education for teens and young people, according to Amager et al. (2020), is notably inadequate in the United States. It is necessary to build financial literacy programs in schools because children and teenagers who do not have financial literacy do not have economic wealth, and the country as a whole does not profit from their lack of understanding (Lusardi, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). Because the vast majority of young people do not appreciate the need of financial education, schools should take further steps to guarantee that students have access to critical financial education programs.
Purpose of the Study
The purpose of this study is to use a mixed-methods approach to data gathering to finish research on the subject of financial literacy among adolescents and teenagers. The examination will take place inside a school system in the Florida county of Palm Beach. The objectives of the study are:
1. To identify the gaps in the financial literacy education in the schools within Palm Beach County, Florida.
2. To determine the long-term consequences of insufficient financial education for youths and teens within Palm Beach County, Florida.
Population and Sample
Data acquired from interviews will be utilized in writing a thesis for the study subject. Principals from 20 schools around the district will be interviewed, while only ten of the curriculum developers across Florida will be interviewed. According to Amagir et al. (2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online), the school district of Palm Beach County, Florida, has about 180 schools, and a principal leads each school, so that means only 11.1% of the principals will be involved. A random sampling method will select the twenty principals from among the district’s schools. Furthermore, the curriculum developers who will participate in the research will be randomly selected from a pool of candidates.
Significance of the Study
The study on financial literacy is very important to individuals, the state, and the U.S. national government. The economy of the U.S. depends much on proper financial planning. Suppose the youth are equipped with the relevant knowledge about managing funds. In that case, it is a plus for the economy of the United States and Florida because proper financial education leads to informed financial planning, which prompts economic development (Amagir et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). The study of financial literacy gaps in schools will also assist policymakers in curriculum development in planning to introduce comprehensive financial literacy programs in these institutions of higher learning (Bakar and Bakar, 2020). The financial education programs are intended to benefit teens and young adults by providing them with extensive knowledge about money management, which will enable them to become financially responsible citizens and parents (Amagir et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online).
To pave the way for future research in financial literacy, a financial illiteracy study is being conducted. Students understand the fundamentals of financial markets, investment options, and financial budgeting when financial literacy is taught to them. Consequently, students will avoid being burdened by debt, which is becoming an increasingly common occurrence among young adults. It is not difficult to recognize certain financial management tactics, particularly when engaging with experts who are well-informed and well-prepared. Consequently, students who have financial literacy will engage in debates with well-educated and informed persons since they will anticipate dangers and argue-justify issues relevant to their studies (Amagir et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). Because the financial well-being of people has an impact on the economy, there is a greater need to polarize financial literacy inside educational institutions.
Nature of the Study
To collect, compare, and analyze the various types of information gathered via interviews, the qualitative research approach will be employed (Hennink et al., 2020). Because information will be gathered via interviews and observations, the qualitative technique is the most suited. The information will be investigated using a narrative data analysis design, which will be implemented (Hennink et al., 2020). As stated by the researchers, the narratives will comprise an examination of the words or experiences shared during the interviews in order to identify any gaps in financial education within the Palm Beach County School System in the state of Florida.
A big benefit of using qualitative research to assess financial literacy in education is the ability to produce the volume of material necessary to answer the study questions on the topic of financial literacy (Hennink et al., 2020). For the second time, using qualitative data will prove that the knowledge offered is exclusive to the qualitative sector of financial education. Finally, since qualitative research is a subjective sort of investigation, it will provide a solution to the issue of why financial illiteracy is so prevalent among adolescents and teenagers in the United States (Hennink et al., 2020).
It answers the study’s questions on financial literacy by using a qualitative research approach. Due to the fact that qualitative technique will give background and an overview of financial literacy in schools, it is the most appropriate methodology to utilize for this research project. The design will be influenced by the findings of ethnographic research. This is due to the fact that it enables for the gathering of first-hand knowledge. Direct observation and questionnaire interviews will be utilized to gather information for this project (Jamshed, 2014: 2024 – Essay Writing Service | Write My Essay For Me Without Delay). The participants will respond to interview questions on the level of financial literacy in their schools, as well as the consequences, in their opinion, of a lack of financial awareness on the part of the participants.
In order to address concerns concerning financial literacy, qualitative research methods should be used since they will provide in-depth insights into financial literacy and its effects on teens and young adults. Aside from that, since information will be gathered via interviews and direct observations, the qualitative research approach will be more cost effective. It is difficult to overcome the issue of bias in data analysis, even if the grounded technique will be utilized to do so. This is the most significant disadvantage. Consequently, owing to prejudice, the results and conclusions on financial literacy in schools and how it impacts kids and teens may not be true in their conclusions.
Research Questions
There are three research questions.
1. What are financial illiteracy gaps found in financial education among Palm Beach County, Florida?
2. What are the evident effects of financial illiteracy on the youth and teens within the state?
3. What actions should address the financial illiteracy disparities in financial education seen in Florida and nationwide schools?
Theoretical Framework
According to Champlain (2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers), University of California, Berkeley students are still battling to pay off enormous sums of student debt. The great majority of individuals live paycheck to paycheck, which implies that most people are financially illiterate in some form. In today’s environment, business owners are particularly disappointed with the lack of preparation and financial awareness of fresh graduates and potential recruits. For most kids, financial literacy is simply another subject in their class. Champlain (2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers) confirms that students are preparing to pass the exam only to live over their monthly pay, are unable to purchase a house, are unable to enroll in a monthly insurance plan, and are unable to even prepare for retirement as a consequence of the lump sum debt (Champlain, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). 44 percent of Americans are predicted to be unable to afford a $400 emergency bill without acquiring debt. Sixty-six percent of Americans have less than $10,000 saved for retirement (Axelrod et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). Some of these abilities should be taught to children by their parents; unfortunately, many parents are saddled with significant debt.
Financial illiteracy is anticipated to become the norm for a big part of the population if youngsters are not taught financial skills at home. Several scholars, notably Axelrod et al. (2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online), argue that schools should simply supplement what parents teach their children. According to a financial literacy assessment, 27 states earned a “C” or below on the scale. Although most schools are mandated to teach mathematics, they are not compelled to teach children finance-related content such as the idea of compound interest or how to prepare a tax return (Champlain, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). Teaching personal finance in a condensed style and expecting major outcomes is doable and successful, in addition to being a duty of educational institutions. Students who are learning to save their pocket money should behave in a manner that helps them put what they have learned in school into practice. This is owing to its huge influence on developing financial literacy in schools (Kirkham, 2016: 2024 – Do my homework – Help write my assignment online).
Definition of Terms
According to Lusardi (2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers), college students are those who are presently enrolled in a postsecondary educational institution of higher learning. They are mostly interested in academic programs. They will face several financial constraints throughout their stay in the field while studying. Due to financial constraints, college students are more prone to experience depression and stress than the general population.
Financial literacy is the capacity to grasp and effectively use several financial competencies, such as personal financial management, budgeting, and investing. A solid financial foundation is the cornerstone of every financial relationship, and it is a constant learning adventure (Lusardi, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers).
Kirkham (2016: 2024 – Do my homework – Help write my assignment online) defines discipline as “a way of behavior that demonstrates a desire to follow the rules or accept orders.” While most people link discipline with social habits, according to some sources, it may also pertain to how you manage your money. Financial discipline is the ability to regulate your spending and saving following the financial objectives you’ve set for yourself in financial management. It is decided by your ability to stay on track with your spending and saving. –
According to Lusardi (2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers), Curriculum developers are elementary, middle, and high school instructors who construct instructional ways to help pupils improve their learning ability. They are in charge of devising instructional strategies for pupils in grades K-12. These instructional coordinators create school program guidelines to ensure that schools are aware of the norms and rules that they are obligated to follow. Educators may also advise teachers on enhancing their classroom management skills, assisting teachers in developing classroom teaching materials, and checking class texts to ensure that the content fits academic requirements.
According to Kirkham (2016: 2024 – Do my homework – Help write my assignment online), financial budgeting is the process of calculating how much money you will make over a certain period and planning how much you will spend, save, and borrow during that time: If you want to pay off your mortgage sooner rather than later, financial planning is essential.
Assumptions
The idea that financial information is excessive for people with low levels of financial literacy is based on the premise that less well-informed people face greater footraces when it comes to information collection and distribution and, as a result, save more money on data and search costs when they turn to an advisor. The belief is founded on a misunderstanding of adult education, psychology, and behavior change research, as well as the socio-cultural factors that lead learners to struggle (Lusardi, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers).
Another assumption seems to be that someone suffering from financial troubles must lack financial ability; otherwise, the issues would not have happened. The solution is to educate people about individual responsibility for successes and failings, which is an important component of American philosophical philosophy and practice. Another theory is that education in financial subjects will boost people’s literacies and, consequently, their financial well-being as a result of this permit. As a consequence of this assumption, non-fiction is omitted from the adult education mindset and behavior variance study (Lusardi, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers).
Limitations
Establishing the dialogue on the premise that an enquiring approach to discovering gaps in the education system is influenced by what is discovered and what is not discovered is a realistic assumption. Before the examination starts, it highlights the research’s limits by concentrating on teaching rather than the reasons that create such changes in educational systems. Several ways may be used to ensure an accurate understanding of the subject. The first step is to recognize that the ultimate authority for these gaps lies with the system to establish a clear separation between the education system and the policies.
This study uses qualitative research approaches to identify present gaps in financial education, which entails gathering first-hand information rather than depending only on existing literature. Because there are only a limited number of interviews that may be adequately inferred and assessed in terms of financial literacy understanding, the number of interviews accessible is limited. As a consequence of the need to develop narratives from a set number of interviews to gather information on the gaps, there will be a skewed point of view (Skagerlund et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). Consequently, the information will be confined to this specific group of persons who do not fulfill any established requirements or have experience in a weak financial education system.
Furthermore, the limited scope of the theoretical framework to focus on college students as a genuine aspect of lack of financial education limits the extent to which there is a gap. This is because students are provided with academic opportunities, which they end up repaying when they are employed (Skagerlund et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). The huge number of default and struggling payments is due to the increasing unemployment rate and, therefore, a lack of means to ensure the utilization of such education (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). It biases the study to show only the failing students who did not have any education in addition to those who may have had opportunities to learn and benefit from extra-curricular financial education programs.
Delimitations
The purpose of research restrictions is to clearly define where the scope of a study ends in terms of financial education and the gap in Florida schools. The study’s limitations will include measuring the Degree of trust in information and if it can be effectively used to create strong financial literacy for young learners. There is virtually little academic material relating to financial thinking and dialogue accessible to pupils.
To investigate financial literacy in education, qualitative research is being employed since it can provide adequate information to answer the financial literacy study questions. The use of qualitative data will make it simpler to ensure that the information provided is relevant to education (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). The limitations of this study are that it only allows for the assessment of various educational materials and does not consider the rules in place to ensure that the standards and content taught in schools are up to grade.
Homework help – Summary
Currently, only a few schools include financial literacy materials as part of their curriculum. This may be due to the way policy is formed and implemented in universality and harmonization in learning. The research will also look at whether or not there is trustworthy and genuine information on financial literacy in schools and whether or not enough procedures have been put in place to promote it. The qualitative research technique was used in this study, and a narrative approach was used to appropriately derive the results of the investigation, which was successful.
The research is particularly interested in finding out what options are available to guarantee that the financial education gap in Florida schools is closed. Furthermore, it is intended to identify the consequences of a lack of financial literacy among youngsters in Florida’s educational institutions. After identifying the financial gaps in financial literacy education in Palm Beach County, which was previously determined. With clearly obvious discrepancies in educational attainment in the schools, academic policies must be put in place to guarantee that adequate education is provided throughout the county’s educational institutions.
Literature Review
The bulk of financial choices made by graduates may be attributed to a lack of financial literacy. This includes comparing the typical adult’s ability to cover financial crises. Theoretically, this debate aims to assess the level of financial literacy among youngsters and the Degree to which it is taught in schools. Various scholars have said that lack of financial knowledge leads to young people making unwise judgments. Amagir et al. (2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online) evaluate the school curriculum’s financial literacy for adolescents and children. They emphasized the disparity in financial education and how inadequate financial literacy is taught to youngsters (Amagir et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online).
Financial education may be introduced in schools in numerous ways. First, ensuring that the educational system adequately explains how financial choices and information are made. Authors have suggested numerous approaches to introduce education into the curriculum appropriately. One of the most prevalent methods is to ensure pupils have such chances (Amagir et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). This helps youngsters establish and grasp the basic building blocks of financial education. After confirming the presence of a basic curriculum element, the education system’s effectiveness is assessed. Educating children and adolescents about money has enhanced their financial attitudes and knowledge. They do so because they create and shape perceptions of money and its use in the contemporary world (Amagir et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online).
According to Hastings et al. (2013), low financial education is linked to unfavorable credit financial behaviors. High debts, foreclosures, and unpleasant mortgage options are examples. This trend has been proven to affect adults and even youngsters and adolescents who lack financial knowledge. Several experts have stated that an increasing percentage of families are in danger of debt owing to bad financial decisions (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online).
Titles Search and Documentation
Research techniques are an important approach for gathering and debating information to make an educated choice. This is because the information being gathered may include a variety of settings and scenarios that need different types of analysis and judgments (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). In research, three basic approaches are used: the qualitative research technique, the quantitative research technique, and the combined method. All of these kinds of research have applications and are used in many sorts of research, and the emphasis of this discussion will be on the examination of the various types of research techniques. We may get a new perspective on the data and present diverse insights via analysis (Hennick et al., 2020).
Qualitative Analysis
Data segmentation is common in data analysis. Without the breakdown, the data would be misinterpreted and misunderstood (Hennick et al., 2020). Understanding data segmentation is becoming more important. We need to know when. This method is popular since it does not need a lot of data collecting. They are category, relationship, and description (Hennick et al., 2020). The qualitative analysis starts with data description and comprehension. The goals and procedure define a separate argument and school of thought. This is how most researchers acquire data. There are many techniques to check the analysis. Information categorization and links are crucial. Collected and sorted material must be correctly presented. The study in issue is socially relevant. It should include key findings from the study. It should be clear what the issue is (Hennick et al., 2020). That is, the data should be described and classified logically.
Quantitative Analysis
Most of the time, this study analysis is done to disseminate and discuss information. This style of study analysis frequently leads to a good debate. Data processing frequently requires mathematical and statistical accuracy (Hennick et al., 2020). The quantity of data and information necessary to establish a clear relationship is enormous. This method of analysis assumes that the data is quantitative. Consequently, facts from this form of study analysis frequently suggest how to approach the issue of discussion (Hennick et al., 2020).
This approach offers two key advantages. One benefit is that it increases the study sample size. The data capture a clearer and more educated argument or research response. This sort of study also addresses objectivity and information accuracy. As a result, it is a more attractive study approach. In terms of community or social research, a plethora of data on numerous areas of society is crucial. In this way, the study may fully understand the topic and guarantee that findings are precise and clear (Hennick et al., 2020).
Mixed Methods
These procedures include the employment of several sorts of study analysis to obtain conclusive facts. In simple words, it often involves using both qualitative and quantitative kind of research approaches to produce a clear result on the topic. This normally operates through the exploitation of research resources and methodologies into regions where both types of research analysis give a strong fit (Jamshed, 2014: 2024 – Essay Writing Service | Write My Essay For Me Without Delay). This implies that each study method gives its own set of benefits and guarantees that they function in unison. It also entails collecting both open and closed-ended data that are generally in response to the study topic. The compelling and demanding technique of ensuring the qualitative methodologies are appropriately applied (Jamshed, 2014: 2024 – Essay Writing Service | Write My Essay For Me Without Delay).
There are numerous mixed-method studies, which indicates it is not a question of simply combining the two concepts. This technique has the advantage of recognizing discrepancies between quantitative data and qualitative findings. Such a manner enables the right harmonization of various features making it simpler to determine a subject of conversation. It is also based on the experiences and conclusions of the directly questioned participants, making the data a proper representation of the study issue (Jamshed, 2014: 2024 – Essay Writing Service | Write My Essay For Me Without Delay).
Historical Content
The research established the significance of financial literacy and the lessons from history that ought to be learned about its importance. Illiteracy of such kind has been considered an endemic issue, especially since most of the world’s young population is struggling to find financial independence in their capacity (Lusardi et al., 2015 – Research Paper Writing Help Service). In 2015 – Research Paper Writing Help Service, a research study was able to pinpoint that the majority of the country’s youth and adolescents are responsible for the loss of over $91 billion due to their lack of understanding of the financial system. Lack of understanding of the financial system is considered one of the most forthcoming challenges of the modern age. Failure to understand its importance usually leads to an array of consequences. Some of them include high-level spending on poor credit management of funds, among other reasons that have been credited as some of the forefront decisions made in light of lack of such education (Jamshed, 2014: 2024 – Essay Writing Service | Write My Essay For Me Without Delay).
This only means a high number of seniors are graduating with little to no information regarding the aspects of financial literacy. This is because of the limited information regarding financial literacy in their academic curriculum, leading to little preparation (Jamshed, 2014: 2024 – Essay Writing Service | Write My Essay For Me Without Delay). If the curriculum were in place, then there wouldn’t be an increased number of learners with no concept of financial literacy, which would lead to more successful students and young adults. Such education allows them to understand how to budget their finances properly, make proper investment choices, and even understand financial markets (Lusardi et al., 2015 – Research Paper Writing Help Service). This allows them to understand finance and manipulate them to ensure their way out of debt. It also increases their horizons to understand decisions, patterns, and techniques implemented in the markets and how they can be beneficial to the student.
There has been a record of many students in Florida who do not have any financial literacy classes. This is because of the number of educational materials available at their disposal during their studies (Lusardi et al., 2015 – Research Paper Writing Help Service). As a result, many students tend to finish school with little knowledge about how financial circumstances operate and work in life. The number of students in the state that are missing out on crucial financial lessons has increased significantly. From the complex way life requires various financial skills to survive, the lack of this knowledge spells doom for students from the county. When considering the current patterns of decisions, we tend to find out that there was a gap in education material in the country concerning financial education.
Naturally, the beginning point of the discussion would be to establish the importance of having such literacy courses taught in schools. Various studies have been known to indicate the difference between counties that offer this form of education and those that do not. The difference was perceivable in the credit scores where the number of students who performed well in terms of financial decisions as those who received some education in some form or the other. The impact and benefit are largely felt from homes that parents did not have the opportunity to learn and understand the inner working of financial education and its importance on life.
While considering this importance, it is crucial to note that there is the chance of parents being against such initiatives and was seen as a way of weakening the credibility of scholarships ad the provision of student loans. While this might benefit the student’s education, it only assists them further to be able to determine which options they have and which opportunities are at their disposal (Jamshed, 2014: 2024 – Essay Writing Service | Write My Essay For Me Without Delay). The major downside would be the disadvantage it brought about to the county as there would be little funding channeled towards the support of college education.
I tend to argue that this fear is based on the unforeseen benefits of financial education. A reduction in student loans would mean increased success in seeking and determining education. This benefits the young learners and adolescents even more, to make correct decisions for their credit score. On top of that, having increased financial education would mean the capability to understand and benefit from various scholarships in college without the burden of getting into debt (Kirkham, 2016: 2024 – Do my homework – Help write my assignment online).
While this might be the case, it was also crucial to establish boundaries in terms of learning and ensure that only those interested in the initiatives would be allowed to participate in the learning programs that further their financial literacy. This aspect of inclusion would mean that there is the benefit of choice, and those who feel not interested in such education material can opt out. In this circumstance, it is crucial to understand the difference in perspective and how financial education can be undertaken. This case has seen various households not benefit from discussions revolving around financial education.
From a historical perspective, we understand the importance of the literacy classes and why policy indicated and supported the lack of such educational material in schools. The huge number of schools and school districts from the data collection pool indicates an oversight from curriculum developers and instructors over the importance of financial education in schools within the county.
To further determine the country’s economic success, historical data was used to determine the extent to which adults and the financial economy were fairings. This information was generated utilizing data from various income statements from prominent businesses. On top of that, financial records of various governmental bodies and their analysis of cause and effect in terms of economic periods determined the extent of financial preparation (Kirkham, 2016: 2024 – Do my homework – Help write my assignment online). To this extent, we can credibly deduce that there is a huge impact on adult decisions and their understanding of financial literacy. There have been high numbers of individuals who make their decisions based on the information received and the actions of others.
The majority of the information collected during this data collection period led to the eventual global economic collapse of the financial system. This was due to poor decision-making and knowledge in investing and making sound decisions. The major loss saw the dwindling financial hopes of individuals who had made huge decisions, and those who lived with debt were hit the hardest with a lack of recourse due to their huge debts (Kirkham, 2016: 2024 – Do my homework – Help write my assignment online). Even when the economy recovers, it only leads to more debts which could only translate to more poor financial decisions.
Current Content
The next question to discuss is whether modernization is development. The period after world war two showed a growing interest in the poor nations of the world among scholars and policymakers in industrialized countries, especially in the United States. The American historian known as Walt W. Rostov inspired theorists of the nineteen fifties and sixties who argued that the process of development could be seen as a series of successive stages of economic growth through which all countries must pass.
The modernization theory is given to this particular school of thinking (Nakano & Muniz, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). Our research reveals that modernization theorists argued that a society’s delayed progress was both caused by and reflected in its conventional economic, political, social, and cultural systems rather than its contemporary ones. Endogenous interactions, they said, were the source of the urge for modernization in their society. However, in developing countries, their transformation would come primarily through exogenous stimuli. This means that modernization would occur by the diffusion of capital, institutions, and values from the First World. It was presumed that Westernization, industrialization, and economic growth would generate the preconditions for the evolution of greater social equality and consequently the rise of stable, democratic institutions and a welfare state.
Throughout this process, the state would serve as the primary agent of the social agent. Modern law was believed to be the “functional prerequisite of an industrial economy.” That is, the law would provide the necessary elements for the functioning of a modern system, including contract and private property rights and universal and uniformly applied rules that allow for predictability and planning. In addition, modern law would be essential to political development as it would help create a pluralist, liberal-democratic state and serve as the primary restraint on arbitrary state action.
Simply put, as Americans began to question their ideals at home, they also began to question their value as models for other countries. Financial considerations may have also played a role in that government agencies and private foundations began to lose interest in the role of law in the development process, and so academics were deprived of necessary financial support (Nakano & Muniz, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). However, the most fundamental reason for the decline of the law and development movement was that it was widely perceived to be a failure. However, according to Trubek and Galanter in “scholars and Self-Estrangement,” the notion that American liberal legalism could be successfully transplanted to liberal developing nations was completely misguided. They argued that the preconditions to the successful implementation of the liberal legal model sharply contrasted with reality in developing nations.
According to the findings, an alarmingly large number of people are vulnerable to escalating debt and financial traps. This is because the current educational system provides little to no attention to studying such subjects (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). This is because a substantial minority of teenagers and adolescents are incapable of making sound financial decisions. This is due to a learning gap in educational institutions. People make decisions that inadvertently damage their financial prospects due to their inability to comprehend how some financially complicated circumstances function (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online).
To properly implement financial education, it is vital to understand the stress that it relieves and how it contributes to the progress of a country or family. Because careful financial management leads to improved advantages for a family and the avoidance of debt and related instruments (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online), this might be seen as an investment in human capital to make the appropriate decisions to guarantee financial obligations are fully understood. As the contemporary world has become more challenging in how it conducts business and industry, having a fundamental understanding of financial education has become vital (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online).
The rules that school boards establish and the availability of education to all students are crucial components of education. One of the elements to consider when considering whether to incorporate financial literacy instruction in the school curriculum is the long-term advantage that such education will provide (Faulkner, 2017). Due to a lack of this knowledge, there is a lack of understanding regarding the Degree to which financial decisions should be considered when preparing for the future and the long-term repercussions of such choices. Understanding our knowledge and conduct is one of the most basic ways to forecast which activities to avoid and which to participate in to make sound decisions (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). It is vital to gather the appropriate knowledge and take focused action to reap such rewards.
When dealing with financial difficulties, positive attitudes and self-confidence are also beneficial. This is due to their crucial function in ensuring that judgments are sensible and not based on faulty or misleading information. This can only be done by attention and ensuring that choices are made with both short- and long-term benefits in mind (Faulkner, 2017). As a result, existing and future financial education-informed initiatives may decrease the number of financial errors made throughout maturity and childhood, which would benefit everyone.
A thorough search of all materials and instructions related to financial literacy in schools was conducted, and the results were examined to determine the extent to which schools intervene and aid their pupils (Faulkner, 2017). Based on the evaluation of articles, papers, texts, and records, it was determined that if a knowledge database exists, it is suitable and suitably accessible for students and guided teaching with an expert (Faulkner, 2017).
Examining financial education budgets suggests that there is a possibility that too little money is spent on financial education (Faulkner, 2017). According to several writers, the absence of financial education in schools is due, among other things, to budget cutbacks and a lack of legislation that encourages greater funds to be allocated to it (Aboagye & Jung, 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online).
Theoretical or Conceptual Framework Literature
A growing number of college students are getting involved in the battle against massive amounts of financial debt. On the other hand, a significant number of people live paycheck to paycheck, indicating that a significant section of the population is financially illiterate and oblivious of the consequences of their financial actions. Entrepreneurs encounter significant obstacles in their businesses due to the disproportional readiness and financial knowledge people have when starting a new job or changing employment (Skagerlund et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). Students have commonly misinterpreted and undervalued this notion as a critical component of life despite its importance. This incident spurred our conversation about the purpose of this argument and its consequence. A considerable majority of adults, children, and adolescents fall short in financial education, which may be linked to a lack of financial education throughout their educational careers.
Financial literacy may seem a simple idea to acquire and comprehend in its theoretical form. As seen by many people in debt, this has proved to be drastically different in terms of practical implementation. When it comes to education, the vast majority of teaching is often done to ensure that students complete their courses, get little practical benefit outside of the classroom, and pass their tests. This leaves financial literacy as nothing more than a subject taught to ensure that students meet the certified qualification in instruction in various subjects without regard for how they can be utilized (Draper, 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). This is discernible in how students can make certain life decisions such as purchasing a home, monthly insurance plans and even saving for their retirement benefits. Such limitations to the understanding and practicality of finance leave an ideological gap that seeks to fulfill academic qualifications and not the understanding of debt and the financial systems.
According to various surveys, rough estimates have been provided about Americans’ quality of living. It has been approximated that roughly almost half the population could not settle emergency fees of $400 or more without accruing debt. Similarly, shocking figures indicate that a large number of working Americans do not have sufficient savings in their retirement accounts due to these huge amounts of debt (Bamforth et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). This knowledge cannot be accurately passed on to children due to debts that they have accrued, making for a generation of households that accept the norm of financial illiteracy. As the adults barely know any better, their children are more likely to fall into similar patterns that sound dangerous to their futures.
In the end, schools should ensure the proper facilitation of financial skills that have been learned from home. A lack of proper training and education would only lead to a lack of such information benefiting young adults and children (Bamforth et al., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online). It is the responsibility of schools to ensure their curriculums touch on the importance of financial literacy and ensure that their learners can practically grasp its concepts. Basic concepts are usually taught and demonstrated in mathematics classes but are not given the same financial application in life. This leads to a shallow understanding of the workings of a financial system and not the practical concepts of management of finances. These theories may be understood in theoretical aspects, but circumstances are not usually similarly tailored in real life.
Students and learners alike need to understand the importance of financial education and why it is a personal responsibility and institutional responsibility to ensure its proper understanding. Institutions are usually inclined towards teaching financial literacy from the point of view that is broad and significant and not solely giving focus to short forms and buzz words relating to finance. Children from various households are usually given pocket money from a young age, and it should be their first lesson in money management. This provides an insight into finance and allows the students to understand the concepts and theories from a practical point of view. They should be able to integrate their instruction received from school with real-life occurrences and go a long way to ensure it improves their financial literacy (Kirkham, 2016: 2024 – Do my homework – Help write my assignment online).
Based on this outlook of financial education, the study established the study’s theoretical framework. It is keen to indicate the rising number of financial issues experienced in households and how the number of adults in debt also keeps rising. This also considers the inflation rates and how they have led to financial difficulties for individuals and families. On top of that, such gaps also lead to students’ development and instruction, who then grow up to become poor financial decision-makers (Kirkham, 2016: 2024 – Do my homework – Help write my assignment online). As such, the study intends to ensure the count of Florida has adequate financial education systems in place and whether they are sufficient enough to validate the increasing aspect between the youth and the rise in debt.
Methodological Literature
Research Design Literature
Conclusions
Chapter Homework help – Summary
References
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