How Young New Zealanders Learn About Personal Finance: A longitudinal Study
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| Sponsor | Massey University and Westpac |
| Speciality | Education |
| Provider | Financial Education and Research Centre |
| Contract Value | - |
| Administration Date | 2012 |
| Frequency | Every 5 years (longitudinal) |
| Next Administration | Not specified |
| Primary Method | Face-to-face |
| Primary Sample | Adults aged 18-22 years |
| Response Rate | 4% |
| Sample Size | 300 |
| Secondary Sample | - |
| Response Rate | - |
| Sample Size | - |
| Sample Frame | Names drawn randomly from electoral roll, using six key geographic locations |
| Participation | Voluntary |
| Monetary Incentive | None |
| Geographical Region | National |
| Average Survey length | Interview 25 minutes, online questionnaire 10-15 mintues |
The Financial Education and Research Centre was founded by Westpac New Zealand and Massey University to improve New Zealanders’ knowledge, attitudes and behaviour towards money matters. This specialist centre aims to improve the quality and access of education on personal finance, and also to identify knowledge gaps and how they can be addressed. While this study builds on previous studies, in New Zealand and around the world, its approach differs by taking a cohort of young New Zealanders, aged 18-22, and following them over a 20-year period at 5-yearly intervals. The key focus for the study is the question of how personal experience of financial education is related to New Zealanders’ financial literacy. This first stage provides a baseline of the participants’ financial knowledge and their experience of financial education, both formally and informally.
For a copy of the preliminary report, please click here.