Opinions and activities of families regarding money management and saving awareness

Abstract

In order to minimize today’s financial problems, it is needed to increase the literacy levels of individuals starting from their childhood. Consequently, considering the fact that financial literacy is more effective when it is taught in early ages, families of 5-6 year old children going to preschool institutions need to determine the points to take into account regarding financial management and saving awareness. Through this purpose, a structured interview form was used with families of 945 children, 498 of whom are girls and 447 of whom are boys. Frequency and percentage calculations and chi square test were used in analyzing the data.

At the end of the research, it was determined that most of preschoolers had moneyboxes and few of them had saving accounts in banks and they received allowances. It was established that educational levels of families have great influence on children when they choose bank accounts or moneyboxes while socio-economical levels of families have influence on having a bank account. Majority of families stated that they try to set an example for their children on savings and ownership and they buy the stuff they children need, not they want. Likewise, most of the families stated that they try to teach their children how to trade economically and make a budget by going to markets and bazaars with them.