Understanding money management across different life stages

Understanding money management across different life stages


Country: Malta

Language: English

Attitude to money management changes across the different stages of life. It develops and increase mostly from the age of 16 and grow when the teenager starts to assume greater life responsibilities. Teenagers’ money management capacity depends on the knowledge they acquire from their familiar and educational background. They first learn from the familiar context, especially through their parents and how they pay attention to money management. The secondary context in which teenagers gain money management skills is school. Precisely they benefit from financial literacy education, such as commerce, economy and accounts stream. Individuals between 16 and 20 live an important adjustment of their managment money capabilities when they start work in a part time or full time job, whereby they have to manage their own money and eventually save it through a bank account or a credit card.

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