Measurement of young adults' attitudes towards money

Abstract

The understanding of financial literacy as a twenty-first century skill often goes back to financial knowledge. From the perspective of teaching-learning research, such a one-dimensional concept cannot be sufficient. Financial decision-making results from an interaction between financial demands and an individual's cognitive and non-cognitive prerequisites. For evaluating the effectiveness of personal finance programmes, valid instruments for assessing relevant variables, like attitudes towards money, must be in place. The target group of the project is young adults within the German Dual vocational training system and Bachelor students. They have in common the need to cope with personal autonomy including the responsible use of their own money. In a broader study, the attitudes towards money of young German adults are analysed. For this purpose, a scale developed by Barry (2014) was used.