The role of numeracy in financial literacy: A case study from Indonesia

Abstract

As part of Indonesia's Gerakan Literasi Nasional, financial literacy is becoming one of Indonesia's most important 21st-century skills. Educators are encouraged to develop and implement financial literacy programs. However, Indonesia does not have a specific financial literacy curriculum. Instead, it is embedded in several subjects, such as economics and mathematics. As a mathematics teacher, it is important to me to know what numeracy skills are correlated to financial literacy. This study will explore the relationship between financial literacy and numeracy by measuring the relationship between financial literacy and numeracy levels among students and financial literacy practitioners in Indonesia (N=30). The sample will be gathered using a stratified random sampling method. This study will have several implications, namely (1) This study will have a positive impact by providing essential information for schools, teachers, and individuals, related to the role of numeracy skills in enhancing financial literacy, (2) This study will recommend to policymakers related to future revision on financial literacy curriculum and programs.