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Welcome to Week 4. This week’s assignment is to submit the Nature of the Study. This requires you to discuss the appropriateness of the research method. Be it quantitative, qualitative, or mixed. Also, discusses the design appropriateness and how the design will accomplish the study objectives.

The Nature of the Study section should average between 1 to 5 pages. That is at the minimum, you should have a full page of this section. Citations are needed to support assertions made, but do not write from one quote to another. The nature of the study must be clearly aligned with the problem statement and purpose statement.

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· Help with editing title still

· Chapter 1: What is the population size in numbers?

· Chapter 1: What sampling method will be used to select the 30 participants?

· Chapter 1: Significance of study need to be supported with literature.

· Writing Nature of the Study with supported documentation no less than 5 years old and with specifications listed above.

The Absence of Financial Literacy Taught in Schools and the Importance of Incorporating Financial Literacy into Schools Comment by Patricia Akojie: Keep working on title. Title must include research design.


Copyright 2021

A Dissertation Presented in Partial Fulfillment

of the Requirements for the Degree

Doctor of Education

Date Approved: ____________



[To be indented and completed upon full dissertation completion]


[To be indented and completed upon full dissertation completion]


Contents Page

List of Tables x

List of Figures x

Preface (optional) x

Chapter 1: Introduction x

Background of the Problem x

Problem Statement x

Purpose of the Study x

Population and Sample x

Significance of the Study x

Nature of the Study x

Research Questions/Hypotheses x

Theoretical or Conceptual Framework x

Definition of Terms x

Assumptions, Limitations, and Delimitations x

Chapter 2: Literature Review x

Title Searches and Documentation x

Historical Content x

Current Content x

Theoretical or Conceptual Framework Literature x

Methodological Literature x

Research Design Literature x

Conclusions x

Chapter Summary x

Chapter 3: Research Methodology x

Research Method and Design Appropriateness x

Research Questions/Hypotheses x

Population and Sample x

Informed Consent and Confidentiality x

Instrumentation x

Field Test or Pilot Test x

Credibility and Transferability or Validity and Reliability x

Data Collection x

Data Analysis x

Chapter Summary x

Chapter 4: Analysis and Results x

Research Questions/Hypotheses x

Data Collection x

Demographics x

Pilot Study x

Data Analysis x

Results x

Chapter Summary x

Chapter 5: Conclusions and Recommendations x

Research Questions/Hypotheses x

Discussion of Findings x

Limitations x

Recommendations for Leaders and Practitioners x

Recommendations for Future Research x

Chapter Summary x

References x

Appendix A: Title x

Appendix B: Title x

Appendix C: Title x


Table 1: Title x

Table 2: Title x

[Only include a list of tables if there are two or more tables. Use title case, defined as capitalizing key words, for table titles.]


Figure 1: Title x

Figure 2: Title x

[Only include a List of Figures if there are two or more figures. Use title case, defined as capitalizing key words, for figure titles.]


January 2010



Education about financial literacy is an important subject that helps students to handle money at school and in the professional world. Students who acquire this knowledge are different from those without because they can make sound financial decisions while avoiding common financial mistakes. The mistakes most people make while attempting to meet their financial needs are associated with a lack of financial literacy (Amagir et al., 2018). Therefore, this current work (study) will focus on the gaps that manifest in the schools regarding financial education, their impacts and how they can be solved. 

Both the youth and the community as a whole enjoy the benefits of understanding and applying the principles of financial literacy. This principle gives the capability of making sound financial decisions. Teachings about this vital tool will help students become skillful and discrete when handling finances both in school and at home. A great future is created when students are equipped with the knowledge of financial literacy (Amagir et al., 2018). With a financial education in place, the first thing students shall do before gambling with their money is to recall the essential concepts of financial management they will have learned from school. The main ticket towards living a debt-free life is being knowledgeable about financial management and that can only be achieved through lessons taught in classes. Youths have always manifested confidence in the way they use money and in fact, most of them believe they are knowledgeable concerning the use of money. However, in real life, the youth struggle with planning their finances and that predisposes them to a life full of debts while they are still young (Amagir et al., 2018). This excessive confidence and state of awareness held by individuals are barriers that need to be cleared out through the use of financial education. There are different programs that a typical school should implement to help train and educate students on matters related to finance. However, most schools focus on programs that emphasize didactics that are practical and theory-based (Blue & Grootenboer, 2019). Most of these didactics are based on benefit plans, which do not fully cover the main concepts of financial literacy. Both students and members (principals, administrators, teachers, housekeepers, secretaries, police officers, guidance counselors, cafeteria workers) of the school, hold some level of misconception about financial literacy.

Background of the Problem

Currently, many teens and youths are illiterate about financial management and statistics show that, financial illiteracy is an endemic issue the globe is battling with as youth struggle to be financially independent (Faulkner, 2017). A survey by the RAND Group in 2015 revealed that teens and youths power most of the country’s economy by about $91 billion, though financial management still remains a ubiquitous challenge for the youths (Amagir et al., 2018). Lack of financial literacy exposes many of them to unending financial management problems, developing poor money spending habits, and unsuccessfully managing their customer credit. Poor financial habits always lead to unwise spending amongst teens. According to Amagir et al., (2018), 20% of the three-quarters of the high school seniors with saving and/or saving accounts graduate with formal knowledge about formal finance. However, the fears of these youths getting into adulthood are that they do not understand the principles of saving, spending, earning, investing, or even balancing a checkbook (Faulkner, 2017). Hence, there is an increasing need for students to have financial literacy, which will help create some level of independency and a sense of self-sufficiency and responsibility. With financial literacy in place, students get to understand the basics of financial markets, investment choices, and financial budgeting. As a result, students will avert facing issues of debt, which is a phenomenal trend among the adult youths. It is not hard to acknowledge some financial management techniques, especially when interacting with well-informed and planned professionals. Therefore, students with financial literacy will hold discussions with well-learned and informed individuals because they will foresee risks and argue-justify matters at hand (Amagir et al., 2018). Since the financial status of individuals contributes to the economy, there is an increase need to polarize financial literacy within schools.

Problem Statement

The problem is that youth lack the knowledge of financial literacy. According to the article by Amagir et al., 2020, there is a large gap in terms of financial education among teens and youth. The article focused on 15-year old students in high school and realized a depth of knowledge. The revelations in the article call for urgency in introducing financial literacy programs in schools because financial literacy does not only rob youth and teens of their economic prosperity but it also robs the nation (Lusardi, 2019). Most young adults assume the necessity of financial education and therefore schools should move a step further to introduce the necessary financial education programs.

Purpose of the Study

The purpose of this study is to conduct a hybrid research, using both qualitative and quantitative approaches to explore the subject of financial literacy among youths and teenagers. The research will take place within the school district of Palm Beach County, Florida. The objectives of the study on financial literacy are:

1. To identify the gaps in the financial literacy education in the schools within Palm Beach County, Florida.

2. To determine the impacts of inadequate financial knowledge to the long term lives of the youths and teens, and how it hurts the state and federal economy.

Population and Sample

The information that will be used for developing the research topic will be gathered from interviews. The interviews will be conducted within the school district of Palm Beach County, Florida and will involve heads of schools and curriculum developers within the district. Principals from 20 schools around the district will be interviewed while only ten of the curriculum developers across the state of Florida will be interviewed. Questions will be sent to the principals and the curriculum developers through their emails. The main question for the participants is to determine where they feel the gaps are towards realizing the lack of financial literacy and how these gaps will go on to affect individual lives. They will also be asked how they feel the lack of financial literacy affects the economy of the state and the federal government. Comment by Patricia Akojie: So will that be a total of 30 participants you will be interviewing? Comment by Patricia Akojie: This information does not belong here. Transfer to data collection section.

What is the total population of principals within the school district of Palm Beach County, Florida?

What is the total population of curriculum developers within the school district of Palm Beach County, Florida?

How will the 20 and 10 participants be selected?

Significance of the Study

The study on financial literacy is very important to an individual, the state and the US national government. The economy of the US depends much on proper financial planning. If the youth are equipped with the relevant knowledge about how to manage funds, it is a plus for the economy of the US and for the state of Florida because proper financial education leads to informed financial planning which prompts economic development. Further, the study of financial literacy gaps in the schools will help the policymakers in curriculum development to plan on introducing holistic financial literacy programs in these schools. These programs will benefit the teens and the youth as they will be able to acquire immense knowledge on financial management, which will help them become responsible citizens and parents financially. Further, the study on financial illiteracy is aimed to pioneer more research into the field of financial literacy. Intensive research will culminate into vast knowledge about literacy programs in the schools.Comment by Patricia Akojie: This discussion need to be supported with literature. Comment by Patricia Akojie: Do you have literature to support this assertion? Comment by Patricia Akojie: Do you have literature to support this assertion? Comment by Patricia Akojie: Need literature to support assertion.

This is not acceptable. You have to support discussion with literature.

Nature of the Study


Amagir, A., Groot, W., Maassen van den Brink, H., & Wilschut, A. (2018). A review of financial-literacy education programs for children and adolescents. Citizenship, Social and Economics Education17(1), 56-80.

Amagir, A., Groot, W., van den Brink, H. M., & Wilschut, A. (2020). Financial literacy of high school students in the Netherlands: knowledge, attitudes, self-efficacy, and behavior. International Review of Economics Education34, 100185. https://doi.org/10.1016/j.iree.2020.100185

Blue, L. E., & Grootenboer, P. (2019). A praxis approach to financial literacy education. Journal of curriculum studies51(5), 755-770.

Cieslick, J., & van Stel, A. (2017). Explaining university students’ career path intentions from their current entrepreneurial exposure. Journal of Small Business and Enterprise Development, 24(2), 313-332

Daveramsey. (2019). Should Financial Literacy Be Taught in More Schools [Blog post]. Retrieved from https://www.daveramsey.com/blog/should-financial-literacy-be-taught-in-schools

Dyer, S.P.; Lambeth, D.T.; Martin, E.P. Effects of multimodal instruction on personal finance skills for high school students. J. Sch. Educ. Technol. 2016, 11, 1–1

Faulkner, A. E. (2017). Financial literacy education in the United States: Exploring popular personal finance literature. Journal of Librarianship and Information Science49(3), 287-298.

Federal Reserve Bank of New York. Quarterly Report on Household Debt and Credit; Federal Reserve Bank: New York, NY, USA, 2016; pp. 1–33

Lusardi, A. (2019). Financial literacy and the need for financial education: evidence and implications. Swiss Journal of Economics and Statistics155(1). https://doi.org/10.1186/s41937-019-0027-5

Lusardi, A.; Tufano, P. Debt literacy, financial experiences, and overindebtedness. J. Pension Econ. Financ. 2015, 14, 332–368.

Rajh, E., Budak, J., Ateljević, J., Davčev, L., Jovanov, T., & Ognjenović, K. (2016). Entrepreneurial intentions in selected Southeast European countries. EIZ Working Papers, (9), 5-27.

Nova. (2018). Financial education stalls, threatening kids’ future economic health. Cnbc.Com. https://www.cnbc.com/2018/02/08/financial-education-stalls-threatening-kids-future-economic-health.html

Suparno, S. & Saptono, A. (2018). Entrepreneurship education and its influence on financial literacy and entrepreneurship skills in college. Journal of Entrepreneurship Education, 21(4), 1-11


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