The Perceptions of Twelfth-grade Students on Financial Literacy

The problem of financial illiteracy at the high school level is becoming a growing pandemic in America. The current financial curriculum may not be preparing high school students against reported financial pitfalls. At the study site, high school students graduate without financial skills that may impact their future financial status. The purpose of this qualitative case study was to examine the understanding of the financial condition of high school students. This study was grounded in the critical theory. The research questions focused on the perceptions of twelfth-grade students on financial literacy and involved understanding (a) how twelfth-grade students' perception of necessary economic fundamental knowledge align with reported necessary financial fundamental knowledge per previous financial literacy studies; (b) the impact of current economic curriculum on individual student preparation in making future financial decisions; (c) what financial information has been identified to have had the greatest impact on individual students; and (d) how twelfth-grade student perceptions of current economic curriculum relate with past research on financial literacy. Four participants participated in four different face-to-face interviews each. Themes were developed using qualitative case study analysis through coding of the data transcripts. The findings revealed that the participants were lacking in many aspects of required financial literacy understanding. Educational stakeholders may benefit from having an awareness of current weaknesses existing in the financial preparation of students. Possible implications for positive social change include improved finance curriculum that could increased financial literacy of high school graduates.