Main Article Content

Abstract

Financial literacy is important for individuals, society as a whole and contributes to economic growth and development. This systematic literature review aims to provide information regarding the importance of financial literacy for early childhood, financial literacy that early childhood can learn and good practices that have been implemented in stimulating early childhood financial literacy. This research reviews 14 journals from 143 various international journals and proceedings. Research has found that introducing the concept of financial literacy from an early age will encourage healthy financial habits in the future, financial education provides knowledge, skills and confidence, and various media and methods have been developed to stimulate early childhood financial literacy.

Keywords

children financial literacy early childhood education financial education financial management systematic literature review

Article Details

How to Cite
Pramitasari, M., Siti Syarah, E., Risnawati, E., & Shofiyah Tanjung, K. (2023). Early childhood financial literacy: A systematic literature review. Aṭfālunā Journal of Islamic Early Childhood Education, 6(1), 1-11. https://doi.org/10.32505/atfaluna.v6i1.5724

References

  1. Alex, K., & Amos, A. (2014). The role of financial literacy in promoting children & youth savings accounts: a case of commercial banks in Kenya. In Research Journal of Finance and Accounting www.iiste.org ISSN (Vol. 5, Issue 11). www.iiste.org
  2. Amagir, A., Groot, W., Maassen van den Brink, H., & Wilschut, A. (2018). A review of financial-literacy education programs for children and adolescents. In Citizenship, Social and Economics Education (Vol. 17, Issue 1, pp. 56–80). SAGE Publications Inc. https://doi.org/10.1177/2047173417719555
  3. Birbili, M., & Kontopoulou, M. (2015). Financial education for preschoolers: preparing young children for the 21st century. Childhood Education, 91(1), 46–53. https://doi.org/10.1080/00094056.2015.1001670
  4. Brillianti, F., & Kautsar, A. (2020). Apakah literasi keuangan memengaruhi kesejahteraan rumah tangga di Indonesia? Kajian Ekonomi Dan Keuangan, 4(2), 103–115. https://doi.org/10.31685/kek.v4i2.541
  5. Brown, M., Henchoz, C., & Spycher, T. (2018). Culture and financial literacy: evidence from a within-country language border. Journal of Economic Behavior and Organization, 150, 62–85. https://doi.org/10.1016/j.jebo.2018.03.011
  6. Candra, R., Rika, S. P. L., & Suyanto, F. (2017). Bringing voluntary financial education in emerging economy : role of financial socialization during elementary years. The Asia-Pacific Education Researcher, 01. https://doi.org/10.1007/s40299-017-0339-0
  7. Elliott, W., Kite, B., O’Brien, M., Lewis, M., & Palmer, A. (2018). Initial elementary education findings from promise Indiana’s children’s savings account program. Children and Youth Services Review, 85, 295–306. https://doi.org/10.1016/j.childyouth.2018.01.004
  8. Fabris, N. (2016). Financial education of children and youth. 2012, 65–79. https://doi.org/10.1515/jcbtp-2016-0011
  9. Fabris, N., & Luburic, R. (2016). Financial education of children and youth. Journal of Central Banking Theory and Practice, 5(2), 65–79. https://doi.org/10.1515/jcbtp-2016-0011
  10. Fauziah, P., & Sari, C. (2019). The development of a financial literacy questionnaire for early childhood. In International Journal of Innovation, Creativity and Change. www.ijicc.net (Vol. 7, Issue 7). www.ijicc.net
  11. Hapsari, D. T., Suryono, Y., & Amiliya, R. (2019). The effect of project based learning to financial literacy on children aged 5-6 years. Journal of Educational Administration Research And Review 21 St Century Skills. ISSN: 26139014 https://ejournal.upi.edu/index.php/EARR/
  12. Hasbi, M., Nugraha, A., Herlianthy, S. L., Faridah, I., Paramita, D., & Kristyaningsih, E. (2020). Konsep pendidikan sosial finansial serta peran pendidik dan tenaga kependidikan (PTK), orang tua, mitra, dan komunitas dalam penerapan pendidikan sosial finansial.
  13. Hastings, J. S., Madrian, B. C., & Skimmyhorn, W. L. (2013). Financial literacy, financial education, and economic outcomes. In Annual Review of Economics (Vol. 5, pp. 347–373). https://doi.org/10.1146/annurev-economics-082312-125807
  14. Henning, M. B., & Lucey, T. A. (2017). Elementary preservice teachers’ and teacher educators’ perceptions of financial literacy education. The Social Studies, 108(4), 163–173. https://doi.org/10.1080/00377996.2017.1343792
  15. Jay, T., Rashid, S., Xenidou-Dervou, I., & Moeller, K. (2022). Measuring financial literacy of children aged 4 to 6 years: design and small-scale evaluation
  16. Jayaraman, J. D., & Jambunathan, S. (2018). Financial literacy among high school students: evidence from India. Citizenship, Social and Economics Education, 17(3), 168–187. https://doi.org/10.1177/2047173418809712
  17. Jayaraman, J. D., Jambunathan, S., & Adesanya, R. (2019). Financial literacy and classroom practices among early childhood and elementary teachers in India and the US. Education 3-13, 47(6), 746–759. https://doi.org/10.1080/03004279.2018.1533030
  18. LeBaron, A. B., Marks, L. D., Rosa, C. M., & Hill, E. J. (2020). Can we talk about money? financial socialization through parent–child financial discussion. Emerging Adulthood, 8(6), 453–463. https://doi.org/10.1177/2167696820902673
  19. Lusardi, A. (2009). “Paolo Baffi” centre on central banking and financial regulation financial literacy : an essential tool for informed consumer choice ? financial literacy : an essential tool for informed consumer choice ?. (Dartmouth College , Harvard Business School , and NBER ).
  20. Lusardi, A. (2019a). Financial literacy and the need for financial education : evidence and implications. 5, 1–8.
  21. Lusardi, A. (2019b). Financial literacy and the need for financial education: evidence and implications. Swiss Journal of Economics and Statistics, 155(1). https://doi.org/10.1186/s41937-019-0027-5
  22. Lusardi, A., & Mitchell, O. S. (2007). Baby boomer retirement security: the roles of planning, financial literacy, and housing Wealth. Journal of Monetary Economics, 51(1), 205–224.
  23. Lusardi, A., & Mitchell, O. S. (2014). Financial of Literacy : theory and evidence. 52, 5–44.
  24. Mandell, L., & Klein, L. S. (2009). The impact of financial literacy education on subsequent financial behavior.
  25. Masnan, A. H., & Curugan, A. A. M. (2016a). Financial education program for early childhood education. 6(12), 113–120. https://doi.org/10.6007/IJARBSS/v6-i12/2477
  26. Masnan, A. H., & Curugan, A. A. M. (2016b). Financial Education Program for Early Childhood Education. International Journal of Academic Research in Business and Social Sciences, 6(12). https://doi.org/10.6007/ijarbss/v6-i12/2477
  27. Muhammad, A. D., & Syaifuddin, I. (2017). Peran orang tua sebagai pendidik anak dalam keluarga. Edugama: Jurnal Kependidikan Dan Sosial Keagamaan, 03(02).
  28. Novieningtyas, A. (2018). Pentingnya edukasi literasi keuangan sejak dini. In MANNERS: Vol. I (Issue 2).
  29. Pangestu, S., & Karnadi, E. B. (2020). The effects of financial literacy and materialism on the savings decision of generation Z Indonesians. Cogent Business and Management, 7(1). https://doi.org/10.1080/23311975.2020.1743618
  30. Pujianti, T., Syaodih, E., & Djohaeni, H. (2019). Peran orang tua dalam melakukan financial education pada anak usia dini. EDUKIDS: Jurnal Pertumbuhan, Perkembangan, Dan Pendidikan Anak Usia Dini, 16(2).
  31. Rutkovskaya, E. L., & Korolkova, E. S. (2019). Primary students’ cognitive and social experience in financial literacy tasks creating. Social & Behavioural Sciences.
  32. Salleh, A. M. H. A. P. M. (2015). A comparison on financial literacy between welfare recipients and non-welfare recipients in Brunei. International Journal of Social Economics, 42(7).
  33. Saputra, J., & Susanti, D. (2021). A study of several financial literacy teaching methods for children. International Journal of Ethno-Sciences and Education Research, 1(2), 7–10. https://doi.org/10.46336/ijeer.v1i2.120
  34. Sari, A. Y., & Sa`ida, N. (2021). Investasi edukasi literasi keuangan untuk anak usia dini di Indonesia. Jurnal Obsesi : Jurnal Pendidikan Anak Usia Dini, 6(3), 2085–2094. https://doi.org/10.31004/obsesi.v6i3.1369
  35. Sari, R. C., Aisyah, M. N., Ilyana, S., & Hermawan, H. D. (2022). Developing a financial literacy storybook for early childhood in an augmented reality context. Contemporary Educational Technology, 14(2). https://doi.org/10.30935/cedtech/11734
  36. Sherraden, M., Peters, C., Wagner, K., Guo, B., & Clancy, M. (2013). Contributions of qualitative research to understanding savings for children and youth. Economics of Education Review, 32(1), 66–77. https://doi.org/10.1016/j.econedurev.2012.09.006
  37. Sherraden, M. S., Johnson, L., Guo, B., & Elliott, W. (2011). Financial capability in children: effects of participation in a school-based financial education and savings program. Journal of Family and Economic Issues, 32(3), 385–399. https://doi.org/10.1007/s10834-010-9220-5
  38. Sherrard, M., Lissa, S., Guo, B., & Elliott, W. (2011). Financial capability in children : effects of participation in a school-based financial education and savings program. 385–399. https://doi.org/10.1007/s10834-010-9220-5
  39. Supanantaroek, S., Lensink, R., & Hansen, N. (2017). The impact of social and financial education on savings attitudes and behavior among primary school children in Uganda. Evaluation Review, 41(6), 511–541. https://doi.org/10.1177/0193841X16665719
  40. Wahyuni, S., & Reswita, R. (2020). Pemahaman guru mengenai pendidikan sosial finansial pada anak usia dini menggunakan media loose parts. Jurnal Obsesi : Jurnal Pendidikan Anak Usia Dini, 4(2), 962. https://doi.org/10.31004/obsesi.v4i2.493
  41. Xiao, J. J., & O’Neill, B. (2016). Consumer financial education and financial capability. International Journal of Consumer Studies, 40(6), 712–721. https://doi.org/10.1111/ijcs.12285
  42. Yushita, AN. (2017). Pentingnya literasi keuangan bagi pengelolaan keuangan pribadi. Nominal, 6 (1), 11-26. https://doi.org/10.21831/nominal.v6i1.14330