The Effects of the Utilization of Parental Involvement Activity Packages on Financial Literacy for Young Children
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Abstract
The purpose of this research was to study the effects of the utilization of parental involvement activity packages on financial literacy for young children. The experimental research design is experimental, and target group of this study consisted of five boys and girls aged 4–5 years who were enrolled in the second year of kindergarten at Wat Thammanawa School, under the Phra Nakhon Si Ayutthaya Primary Educational Service Area Office 2. The children were selected based on observed problems related to money management, such as a lack of awareness regarding the value of money and a tendency to purchase unnecessary items, Additionally, the study included the parents or guardians who were responsible for the care of these children, with a total of 5 families selected through purposive sampling. The selection criteria include: 1) Parents were willing to participate the research and consistently collaborated with the school in various activities, 2) Parents had enough time to engage in activities with the children. The tools employed included a eight sets of parent involvement activities on financial literacy for young children, along with a financial literacy skills assessment forms and a behavioral log to record the children’s financial literacy behaviors for parents during home activities. Semi-structured interviews were also conducted. Data were analyzed using mean, standard deviation, and content analysis.
The results of this study indicated that young children who used the packages increased the financial literacy skills. The activities were convenient and easy to implement. Children were able to borrow and return items or money appropriately, exchange goods and currency of similar value, and give items or money to peers and parents without expecting anything in return. Moreover, they became more aware and reflective before making purchases, considering both necessity and value. They consistently inquire about the price and evaluate their available funds before buying. Each time they deposit money into their savings, they do so with a clear goal in mind—saving to purchase something meaningful.
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