Testing the Effectiveness of Educational Workshops on Financial Knowledge of High School Students Studying in Rural Chhattisgarh, India.

International Journal of Economics and Management Studies

© 2024 by SSRG - IJEMS Journal

Volume 11 Issue 8

Year of Publication : 2024

Authors : Sharvi Gupta

10.14445/23939125/IJEMS-V11I8P102

How to Cite?

Sharvi Gupta, "Testing the Effectiveness of Educational Workshops on Financial Knowledge of High School Students Studying in Rural Chhattisgarh, India.," SSRG International Journal of Economics and Management Studies, vol. 11,  no. 8, pp. 9-15, 2024. Crossref, https://doi.org/10.14445/23939125/IJEMS-V11I8P102

Abstract:

Financial literacy is crucial for financial control and opportunity navigation, yet often overlooked, particularly in South Asian countries where literacy levels lag behind developed nations. Enhancing financial literacy can significantly benefit individuals from lower socioeconomic backgrounds, improving income generation over time. This study examines the impact of financial literacy workshops on high school students in rural Chhattisgarh, India, focusing on improving financial knowledge. Using a quantitative approach, surveys were conducted with 286 students from three government schools, measuring financial knowledge before and after the workshops. The survey employed the financial knowledge scale developed in 2019 by NCFE. Results show a significant increase in knowledge, with mean scores rising from 5.08 to 8.71. Gender analysis reveals females initially had higher financial knowledge, but males surpassed them post-workshop. Age analysis indicates older students (above 15) had higher pre-test scores, yet younger students (15 and below) showed greater improvement. These findings demonstrate the effectiveness of interactive workshops in enhancing financial literacy and emphasise the need for targeted educational strategies. The study highlights workshops as valuable tools for financial education, fostering significant improvements across demographics. Insights from this research are crucial for educators, policymakers, and curriculum designers aiming to enhance financial literacy among rural youth. Future research should replicate these findings in other regions and explore various educational interventions to further boost financial literacy. This study contributes to understanding the role of financial education in equipping students with essential skills for personal and economic resilience.

Keywords:

Education, Financial Knowledge, Financial Literacy, Workshop.

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