Developing Financial Literacy Instruments for Youth: An Indonesian Context Siti Parhah, Leni Permana, Dadang Dahlan
Universitas Pendidikan Indonesia
Abstract
There are still many people who experience fraud in using various financial products and services, showing the importance of increasing financial literacy from a young age. In order to measure the level of financial literacy of young people in Indonesia and determine appropriate measures to improve it, so that they are able to make better financial decisions, it is important to develop financial literacy instruments that are standardized and in accordance with regulation and conditions in Indonesia. Using research and development methods, this research has produced a comprehensive financial literacy instrument consisting of 30 items. Content includes money and transactions, planning and managing finances, risk and reward, and financial landscape. Cognitive process includes identifying financial information, analyzing information in a financial context, evaluating financial issues, and applying financial knowledge and understanding. Context consists of individuals, families, and societal. Item format consist of simple multiple choice with a single response selection, complex multiple choice with multiple response selections, and open respons.
