Jumpstart Personal Financial Literacy Standards for Young

These are standards which are designed for personal financial knowledge and ability for your people to acquire throughout their elementary to college graduate level to develop as independent adult financial consumers confident enough to make wise financial decisions in their lifetime. The Jumpstart coalition standards and questionnaires have been used to by scholars in many instances in different
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localities. For instance (Worthington, 2006) used the jumpstart questionnaire to predict financial literacy in Australia,(Mandell, 2006) employed the questionnaire to assess whether financial literacy matters.(Norvilitis et al., 2006) used the Jumpstart coalition standards to assess personal factors, money attitudes, financial knowledge and credit card debts. And many more instances if not used directly the questionnaires and standards are quoted. More evidences can be seen in (Hughes, Wood, Konrad, & Test, 2006 Mandell, 2009). These are some of the empirical evidences of how substantial are these standards when it comes to assessing and instilling financial wellbeing to young generation. However, the challenge comes on whether these standards are suitably fit for developing economies. We take a closer look on each items standard and from thence we tailor-make it to suit the developing economies assessment. For instance with developed economies it easier to talk of credit-card debts for college students in developing economies we would better placed talking about possession/owning and account at a certain financial institution. Therefore, these standards are well analyzed redrafted into developing economy senses then used to assess the education system stream’s ability to impose personal financial knowledge. And then suggest the way forward. Our analysis is based from primary school, secondary schools through college. As these standards was employed from an American education system 4th grade standard are considered to be equivalent to primary school level standards, 8th grade standards are taken to be secondary school standards and 12 grade are taken to be standards at college and university level
Whereby Ms=Mathematics, Bk=Book keeping,
Com=Commerce, Acc=Accountancy, Eco=Economics, N=Non, S=Somehow, Y=Yes