The Impact of Business, Marketing, and Accounting Courses on Financial Literacy in South Florida High Schools

Abstract

The advancement of technology and its subsequent emphasis on money as the driving force of success is prevalent in all developed countries. Due to rising inflation and cost of living, the economic statuses of millions of individuals are in jeopardy. To address these problems, state governments funded various financial literacy programs focused on educating the youth on the basics of money management. However, with state budgets allocating millions of dollars towards traditional curriculum, financial literacy is often pushed aside. Moreover, the lack of research done on financial literacy electives and the failure to localize results produce an inaccurate representation of how financially literate the current youth generation is. Therefore, most adolescents are not equipped with the resources or opportunities to be financially prepared for the real world. In an effort to improve the financial illiteracy of the nation, this study assesses which present-day financial literacy courses, programs, and electives are the most effective in increasing the amount of financial literacy in South Florida adolescents aged 14-18. Within this study, the evaluation research approach was applied using data gathered via an online survey shared by teachers across the region. Findings revealed that all students enrolled in a financial literacy course showcased a greater understanding of money management, especially those in single-year courses. When considering implications, increased awareness of the importance of financial literacy on a local scale and changes in state curriculum could prepare future generations to make sound financial decisions, and thus, strengthen the economy.