Journal Press India^®

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Purpose: The present study analyzes the current state of FL among Bhutanese students, their existing knowledge and prospective trends, and the context within the national education system. The paper considers the prime importance of FL in the development and future economic engagement of students. Design/Methodology/Approach:This paper presents the outline of the general problem of financial literacy among Bhutanese students. The analyses lean on already available literature and emerging quantitative data, such as survey results from the studies on college students, in order to understand the existing tendencies. Findings:Emerging quantitative data indicate that the financial knowledge of students differs substantially depending on geographic location, gender, and the socioeconomic status of the students’ families. In addition, a series of institutional barriers restrict the systematic implementation of financial literacy in schools. Research Limitations: This study is pertinent to Bhutanese students, and it is subjected to several limitations. First, the sample size is limited to students from only selected educational institutions in Bhutan which does not represent broader student population in a country. Next, the data was collected cross-sectionally that provide simply the snapshot of financial literacy levels at a single point of time excluding the long-term trends and changes. Managerial Implications: The findings in this very study hold the significant implications for policy makers and educational institutions in Bhutan. The understanding of financial literacy among the Bhutanese students can help and guide curriculum design and development. Originality/Value: The paper identifies the family background, socioeconomic status, and the prevailing curriculum as some of the major determinants of the students’ financial literacy

Keywords

Financial Literacy, Bhutanese Students, Education System, Saving, Budgeting, Youth, Socioeconomic Background