Financial Education In Building Financial Literacy Among Sudanese Youth

Abstract

Financial literacy is a crucial life skill. It goes well beyond the simple concepts of saving and borrowing. Lack of financial knowledge can expose youth to face financial difficulties. This research focuses on assessing the impact of financial exposure via educational channels on university student’s financial attitude. The approach of the research is qualitative in nature. Data was collected through structured interviews. The interview included questions on demographics, education, health insurance and financial capability among Sudanese youth. Twenty (20) university students from two different states were interviewed between August 2013 and September 2013. Thematic analysis was used to analyse the data. The findings of this research revealed that youth who were exposed to financial knowledge during their university studies have better understanding of financial knowledge compared to those who were not exposed. The paper concludes that financial education at an early age can reduce the financial illiteracy and alleviate financial difficulties among youth significantly.