Financial Education as Part of High School Syllabus

Abstract

An analysis of poverty on district level, by Benazir Income Support Program (BISP) reported that found that district Kohat (KPK) stands among the poor districts of Pakistan. Hence the
financial behavior of citizen of District Kohat needs to be investigated. The paper focused on improving financial behavior through improvement in financial literacy. The paper proceeded with
an objective to check the efficacy of teaching financial education at the school level and analyzing
the improvement in financial behavior through financial literacy. A sample of 306 respondents from
District Kohat was investigated in terms of respective financial behavior, financial literacy subject
to gender and degree of education. Proceeding with principal component analysis, OLS is applied
to estimate the relationship. It was found that due to higher preference of males toward finances,
financial behavior of male participants is better than those of female. Also those having a degree
in business or finance related subject, behave financially better than others. A direct and significant
relation is found between financial behavior and financial literacy. The paper suggest that financial
education should be included as a compulsory subject to the syllabus of high schools.