1. Home
  2. Vol 9, No 1 (2025)
  3. Hatidja

The Effectiveness of Financial Literacy Education on Children's Economic Decision-Making: A Meta-Analysis Approach

Author


ST. Hatidja(1Mail), Suhardi Suhardi(2), Rizal Ula Ananra Fauzi(3), Nurul Hudaeni(4), Ria Oktora(5), Afrizal Afrizal(6), Tomi Apra Santosa(7), Unpris Yastanti(8),
Sekolah Tinggi Ilmu Ekonomi AMKOP Makassar, Indonesia(1)
Universitas pertiba, Indonesia(2)
Universitas PGRI Madiun, Indonesia(3)
Universitas Teknologi Muhammadiyah Jakarta, Indonesia(4)
Universitas Pertiba, Indonesia(5)
Universitas Pertiba, Indonesia(6)
Akademi Teknik Adikarya, Indonesia(7)
Universitas Bina Sarana Informatika, Indonesia(8)

Mail Corresponding Author

 PDF Full Text   [File Size: 590KB]

Published : 2025-01-02

Article can trace at:


Article Metrics

Abstract Views: 110 times PDF Downloaded: 34 times

Abstract


This study aims to determine the influence of financial literacy education on children's economic decision-making. This type of research is quantitative research with a meta-analysis approach. The inclusion criteria in this study are 1) data from national and international journals indexed by SINTA and Scopus, 2) research published in 2021-2024, 3) research must be relevant, 4) research data must report complete data to calculate the effect size value. Research data was obtained from 25 studies that have met the inclusion criteria—data analysis with the help of the JASP 0.8.5 application. The study's results concluded that the average effect size value was ( d = 0.994; z = 11.198; p< 0.001) in the high effect size category. These findings show that financial literacy education significantly influences children's decision-making.


Keywords


Pendidikan Literasi; Effect Size; Keuangan; Pengambilan keputusan; Meta-analysis

References


Asnur, L., Jalinus, N., Faridah, A., Apra, T., Ambiyar, R. D., & Utami, F. (2024). Video-blogs ( Vlogs ) -based Project : A Meta Analysis. 14(5), 1553–1557.

Badawi et al. (2023). Integration of Blended Learning and Project-Based Learning (BPjBL) on Achievement of Children’s’ learning goals: A Meta-analysis study. Pegem Journal of Education and Instruction, 13(4). https://doi.org/10.47750/pegegog.13.04.32

Baihaqqy, M. R. I., Disman, Nugraha, & Sari, M. (2020). The correlation between education level and understanding of financial literacy and its effect on investment decisions in capital markets. Journal of Education and E-Learning Research, 7(3), 306–313. https://doi.org/10.20448/JOURNAL.509.2020.73.306.313

Björklund, M., Tväråna, M., Jägerskog, A. S., & Strandberg, M. (2022). Grasping the concept of value: Exploring Children’s’ economic and financial literacy in citizenship education. Journal of Social Science Education, 21(4). https://doi.org/10.11576/jsse-5535

Böhm, P., Böhmová, G., Šimková, V., & Gazdíková, J. (2021). the Impact of Secondary Education on the Level of Financial Literacy: the Case of Slovakia. Problems of Education in the 21st Century, 79(1), 13–33. https://doi.org/10.33225/pec/21.79.13

Boozer, B. B., & Simon, A. A. (n.d.). Evaluating academic decisions and risk : A study of university business Children’s. 45, 1–12.

Borenstein, M., Hedges, L., & Rothstein, H. (2007). Introduction to Meta-Analysis. www.Meta-Analysis.com

Bueno, D., & Dela Cruz, A. (2024). Advanced Financial Management Competencies of Graduate School Children’s in Business Administration: A Case Study. IMRaD Journal, 6, 26–34. https://doi.org/10.69502/jvgk9882

D.A.T, K. (2020). The Impact of Financial Literacy on Investment Decisions: With Special Reference to Undergraduates in Western Province, Sri Lanka. Asian Journal of Contemporary Education, 4(2), 110–126. https://doi.org/10.18488/journal.137.2020.42.110.126

Edy Nurtamam, M., Apra Santosa, T., Aprilisia, S., Rahman, A., & Suharyat, Y. (2023). Meta-analysis: The Effectiveness of Iot-Based Flipped Learning to Improve Children’s’ Problem Solving Abilities. Jurnal Edumaspul, 7(1), 2023–1492.

Ersoy, N. Sen. (2023). Empowering Inclusion: Addressing Barriers in Distance Learning for Disadvantaged Groups. Turkish Online Journal of Educational Technology - TOJET, 22(4), 52–60.

Frączek, B., & Klimontowicz, M. (2015). Financial literacy and its influence on young customers’ decision factors. Journal of Innovation Management, 3(1), 62–84. https://doi.org/10.24840/2183-0606_003.001_0007

Goyal, A., & Choudhary, A. (2024). Role of Financial Literacy in Financial Planning and Decision Making Among College Children’s. Pacific Business Review International, 17(1), 56–70.

Hubbard, E., Matthews, P., & Samek, A. (2016). Using online compound interest tools to improve financial literacy. Journal of Economic Education, 47(2), 106–120. https://doi.org/10.1080/00220485.2016.1146097

Ichsan, I., Suharyat, Y., Santosa, T. A., & Satria, E. (2023). Effectiveness of STEM-Based Learning in Teaching 21 st Century Skills in Generation Z Student in Science Learning: A Meta-Analysis. Jurnal Penelitian Pendidikan IPA, 9(1), 150–166. https://doi.org/10.29303/jppipa.v9i1.2517

Kamarudeen, M., & Vijayalakshmi, K. (2023). Machine Learning based Financial Management Mobile Application to enhance College Children’s’ Financial Literacy. Proceedings of International Conference on Research in Education and Science, 9(1), 1237–1253.

Kusumawati, I. B., Fachrudin, A. D., Indra Putri, R. I., & Zulkardi. (2023). Infusing Islamic financial literacy in mathematics education for Islamic school. Journal on Mathematics Education, 14(1), 19–34. https://doi.org/10.22342/JME.V14I1.PP19-34

Lingyan, W., Mawenge, Rani, D. R., & Patil, S. (2023). RETRACTED ARTICLE: Study on relationship between personal financial planning and financial literacy to stimulate economic advancement. Annals of Operations Research, 326(s1), 11. https://doi.org/10.1007/s10479-021-04278-8

Lusardi, A. (2019). Financial literacy and the need for financial education: evidence and implications. Swiss Journal of Economics and Statistics, 155(1), 1–8. https://doi.org/10.1186/s41937-019-0027-5

Majeed, K. B., Khan, A., Ghaffar, I., Asghar, H., & Ahmed, P. J. (2022). The linkage between financial literacy and financial decision-making with the mediating effect of investment behavior. Palarch’s Journal of Archaeology Of Egypt/Egyptology, 19(3), 1582–1598.

Mandell, L., & Klein, L. S. (2009). The impact of financial literacy education on subsequent financial behavior. Journal of Financial Counseling and Planning, 20(1), 15–24.

Mccormick, M. H. (2009). The effectiveness of youth financial education: A review of the literature. Journal of Financial Counseling and Planning, 20(1), 70–83.

Mizzi, E. (2021). Cultivating financial literacy through secondary school economics education: Access to powerful knowledge. International Journal for Business Education, 162(1). https://doi.org/10.30707/ijbe162.1.1648090658.886513

Pang, M. F. (2010). Boosting financial literacy: Benefits from learning study. Instructional Science, 38(6), 659–677. https://doi.org/10.1007/s11251-009-9094-9

Retno Mustika, D., Sri Umi Mintarti, W., Agung, H., & Hari, W. (2024). Development of Learning Material in Behavioral Economics for Higher Education. 14(3), 192–199. https://doi.org/10.47750/pegegog.14.03.18

Shroff, S. J., Paliwal, U. L., & Dewasiri, N. J. (2024). Unraveling the impact of financial literacy on investment decisions in an emerging market. Business Strategy and Development, 7(1), 97–105. https://doi.org/10.1002/bsd2.337

Tamur, M., Juandi, D., & Kusumah, Y. S. (2020). The effectiveness of the application of mathematical software in indonesia; a meta-analysis study. International Journal of Instruction, 13(4), 867–884. https://doi.org/10.29333/iji.2020.13453a

Williams, P., Morton, J. K., & Christian, B. J. (2022). Enhancing financial literacy in children 5–12 years old using authentic learning within a school market garden programme. Education 3-13, 50(3), 361–374. https://doi.org/10.1080/03004279.2020.1851741

Yaniawati, P., Maat, S. M., Supianti, I. I., & Fisher, D. (2022). European Journal of Educational Research. European Journal of Educational Research, 11(1), 69–81. https://pdf.eu-jer.com/EU-JER_9_1_395.pdf

Yildirim, S., Yildirim, M. M., & Vardari, L. (2024). The Effect of Undergraduate Programs on Financial Literacy Level: The Case Of Kosovo. Pegem Egitim Ve Ogretim Dergisi, 14(3), 170–182. https://doi.org/10.47750/pegegog.14.03.16

Youna Chatrine Bachtiar, Mohammad Edy Nurtamam, Tomi Apra Santosa, Unan Yasmaniar Oktiawati, & Abdul Rahman. (2023). the Effect of Problem Based Learning Model Based on React Approach on Children’s’ 21St Century Skills: Meta-Analysis. International Journal of Educational Review, Law And Social Sciences (IJERLAS), 3(5), 1576–1589. https://doi.org/10.54443/ijerlas.v3i5.1047

Zulyusri, Z., Santosa, T. A., Festiyed, F., Yerimadesi, Y., Yohandri, Y., Razak, A., & Sofianora, A. (2023). Effectiveness of STEM Learning Based on Design Thinking in Improving Critical Thinking Skills in Science Learning: A Meta-Analysis. Jurnal Penelitian Pendidikan IPA, 9(6), 112–119. https://doi.org/10.29303/jppipa.v9i6.3709


Refbacks

  • There are currently no refbacks.
Bookmark and Share