Financial Literacy Skills: Understanding Primary School Students’ Saving Awareness

Abstract

Financial literacy has an important role in the sustainability of an ideal and quality life. Human ability to manage finances affects the welfare of their lives. Knowing financial management patterns is fundamental for each individual elementary school-level child in maintaining balanced financial management. Not all upper-grade students at the elementary school education level are aware of the importance of understanding financial management and saving from an early age. The existence of financial literacy in elementary schools in grade VI classes provides a benchmark for sustainable savings awareness. This study was conducted to determine financial literacy skills as a basis for understanding saving awareness in elementary school students. The sample used in this study was 30 grade VI students at SDN Trimulyo Yogyakarta. This research used a mixed method by collecting data through questionnaires given to students as well as direct interview observations with students and teachers. The results of this study indicate that financial literacy in grade VI students at Trimulyo Elementary School in Yogyakarta has a positive impact on early saving awareness. Based on this, the findings in the field prove that the urgency of saving money in elementary school students has a big impact on simple financial management wisely on an ongoing basis. Thus, elementary school students have good financial literacy skills, as evidenced by the ability to manage money and save it.