Financial Literacy Skills Needed by Secondary Schools Students in Abia State

Abstract

The study investigated financial literacy skills needed by secondary school students in Abia State. Specifically, it determined skill needs of secondary school students for planning, organizing; implementing; and evaluating the use of their finances, as well as ways the students could imbibe the skills. Five null hypotheses (HOs) were tested at 0.05 level of significance. Descriptive survey research design was adopted. Population was made up of all the 114 Economics teachers in public secondary schools in the state. Questionnaire was used for data collection. Mean, standard deviation and t-test were used for data analysis. Results show 10 financial planning skills (X̅g = 3.03), including, set financial goals for themselves (X̅ = 3.06); 10 organizing skills (X̅g = 2.97), including, prioritize financial goals (X̅= 3.87); 11 implementing skills (X̅g = 3.00), including execute budgets as planned (X̅ = 3.01); as well as 12 evaluating skills (X̅g = 2.88), these include, examine financial progress and plans (X̅ = 3.00). Other results are 11 strategies that could enhance financial literacy skills of secondary school students. These include, among others, organizing regular workshops for students on financial literacy skills (X̅ = 2.86), exposing students to relevant financial books, online courses (X̅ = 2.75). Based on the results, five recommendations were made.