446

Views

280

Downloads

Original article
Open Access

Enhancing Early Childhood Financial Literacy Through FinSOLEkid Indonesia: A Comparative Study of Digital Platforms

Nurlaeli Fitriah
,
Made Duananda Kartika Degeng
,
I Nyoman Sudana Degeng
,
Henry Praherdhiono
Pages: 171-181
|
Published: Sep 30, 2023

Main Article Content

Abstract

This study investigates the impact of FinSOLEkid Indonesia, a game-based educational application, on financial literacy among early childhood learners aged 5-6 years. Utilizing a quasi-experimental design with two experimental groups, one using a PC version and the other an Android version, the study aims to determine the effectiveness of digital platforms in enhancing financial understanding. Subjects were chosen through purposive sampling based on their interaction with money, comprehension of in-game instructions, and ability to use digital devices. Data collection involved multiple-choice tests tailored with game elements and visual aids to suit the developmental stage of the participants. The analysis, conducted using the Kruskal-Wallis test and N-Gain scores, revealed that the PC version of FinSOLEkid Indonesia was more effective in augmenting financial knowledge than its Android counterpart and conventional methods. However, the suitability of the application for children under the age of 5-6 remains questionable due to the presence of written instructions. The study highlights the importance of selecting appropriate educational media and content for early childhood. It suggests that such technology-enhanced learning tools, while effective, need to be tailored to the developmental needs of the learners. These findings offer insights into the potential of digital learning platforms in early childhood education, emphasizing the need for age-appropriate design and content in educational technology.

Keywords:

Early Childhood Financial Literacy Educational Technology Game Based-Learning FinSOLEkid

Downloads

Download data is not yet available.

Metrics

Metrics Loading ...

Article Details

How to Cite

Fitriah, N., Degeng, M. D. K., Degeng, I. N. S., & Praherdhiono, H. (2023). Enhancing Early Childhood Financial Literacy Through FinSOLEkid Indonesia: A Comparative Study of Digital Platforms. Golden Age: Jurnal Ilmiah Tumbuh Kembang Anak Usia Dini, 8(3), 171–181. https://doi.org/10.14421/jga.2023.83-06

References

Abdullah, N., Fazli, S. M., & Arif, A. M. M. (2019). The Relationship between attitude towards money, financial literacy, and debt management with young worker’s financial well-being. Pertanika Journal of Social Sciences and Humanities.

Aisa Amagir, A. W. and W. G. (2018). The relation between financial knowledge, attitudes towards money, financial self-efficacy, and financial behavior among high school students in the Netherlands. In Empirische Padagogik.

Al-Rajhi, M., & Basheri, M. (2019). Investigating Children’s Learning of Programming Using Multi-Touch Table. 2nd International Conference on Computer Applications and Information Security, ICCAIS 2019. https://doi.org/10.1109/CAIS.2019.8769493

Alam, A. (2022). A Digital Game-based Learning Approach for Effective Curriculum Transaction for Teaching-Learning of Artificial Intelligence and Machine Learning. International Conference on Sustainable Computing and Data Communication Systems, ICSCDS 2022 - Proceedings. https://doi.org/10.1109/ICSCDS53736.2022.9760932

Alamin, R. Y., Zulaikha, E., & Gunarta, I. K. (2022). Board Game as Financial Literacy Education Media for Indonesian High School Students. IEEE International Conference on Industrial Engineering and Engineering Management. https://doi.org/10.1109/IEEM55944.2022.9989646

Amagir, A., Groot, W., Maassen van den Brink, H., & Wilschut, A. (2018). A review of financial-literacy education programs for children and adolescents. In Citizenship, Social and Economics Education. https://doi.org/10.1177/2047173417719555

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 Education. https://doi.org/10.1016/j.iree.2020.100185

Ardiansyah, A., Witono, H., & Jaelani, A. K. (2023). The Effect of Parental Support on the Learning Motivation of Grade IV Elementary School Cluster 3 Students of Kempo District for the 2022/2023 Academic Year. International Journal of Social Service and Research. https://doi.org/10.46799/ijssr.v3i7.463

Candra Sari, R., Rika Fatimah, P. L., Ilyana, S., & Dwi Hermawan, H. (2022). Augmented reality (AR)-based Sharia financial literacy system (AR-SFLS): a new approach to virtual Sharia financial socialization for young learners. International Journal of Islamic and Middle Eastern Finance and Management. https://doi.org/10.1108/IMEFM-11-2019-0484

Cawyer, C. R., Blanchard, C., & Kim, K. H. (2022). Financial Literacy and Physician Wellness: Can a Financial Curriculum Improve an Obstetrician/Gynecologist Resident and Fellow’s Well-Being? AJP Reports. https://doi.org/10.1055/s-0041-1742268

Desello, J. M. U., & Agner, M. G. R. (2023). Financial Inclusion and the Role of Financial Literacy in the Philippines. International Journal of Economics and Finance. https://doi.org/10.5539/ijef.v15n6p27

Erdem, O., Erdem, S., & Monson, K. (2023). Children, vaccines, and financial incentives. International Journal of Health Economics and Management. https://doi.org/10.1007/s10754-023-09343-2

Fadhli, M., Brick, B., Setyosari, P., Ulfa, S., & Kuswandi, D. (2020). A meta-analysis of selected studies on the effectiveness of gamification method for children. International Journal of Instruction. https://doi.org/10.29333/iji.2020.13154a

Fadhli, M., Utami, D. D., Hastuti, B. N., Purnomo, R. A., Mahon, D., & Masters, A. (2022). The Effectiveness of Playful Augmented Reality Media for Teaching Early-Primary Students. Proceedings of the European Conference on Games-Based Learning. https://doi.org/10.34190/ecgbl.16.1.632

Gerasimova, E. N., Krasova, T. D., Chuikova, Z. V., & Sushkova, I. V. (2022). Relationship between financial literacy of preschool children and their parents. Perspektivy Nauki i Obrazovania. https://doi.org/10.32744/pse.2022.5.19

Güvenç, H. (2020). Financial Literacy in Turkish Formal Education Curriculum. Elementary Education Online.

Hapsari, D. T., Suryono, Y., & Amiliya, R. (2020). 21st Century Skills; The Effect of Project Based Learning to Financial Literacy on Children Aged 5-6 Years. Educational Administration Research and Review. https://doi.org/10.17509/earr.v3i2.22370

Haron, N. H., & Kenayathulla, H. B. (2022). Financial literacy of school leaders in national secondary schools in kuala lumpur, malaysia. Malaysian Online Journal of Educational Management.

Head, A. J., Fister, B., & MacMillan, M. (2020). Information Literacy in the Age of Algorithms: Student experiences with news and information, and the need for change. In Project Information Literacy.

Herijanto, N. K. K., & Rahadi, R. A. (2020). A Conceptual Study on The Implications of Financial Literacy Rate on The Company Profitability of MSMEs. International Journal of Accounting, Finance and Business (IJAFB), 5(27), 133–142.

Hong Shan, L., Cheah, K. S. L., & Leong, S. (2023). Leading Generation Z’s Financial Literacy Through Financial Education: Contemporary Bibliometric and Content Analysis in China. SAGE Open. https://doi.org/10.1177/21582440231188308

Ingale, K. K., & Paluri, R. A. (2022). Financial literacy and financial behaviour: a bibliometric analysis. In Review of Behavioral Finance. https://doi.org/10.1108/RBF-06-2020-0141

Jee Balaza, E. M., Diama, K. C., Lloyd Torrenueva, J. A., Alicaya, A., Ortiz, M. N., & Inocian, R. B. (2021). Financial Literacy Integration in the K to 12 Social Studies Curricula in the Philippines: Basis for a Contextualized COVID-19 Teaching Model. PSYCHOLOGY AND EDUCATION.

Kadoya, Y., & Khan, M. S. R. (2020). What determines financial literacy in Japan. Journal of Pension Economics and Finance. https://doi.org/10.1017/S1474747218000379

Kaiser, T., Lusardi, A., Menkhoff, L., & Urban, C. (2022). Financial education affects financial knowledge and downstream behaviors. Journal of Financial Economics. https://doi.org/10.1016/j.jfineco.2021.09.022

Kaiser, T., & Menkhoff, L. (2020). Financial education in schools: A meta-analysis of experimental studies. Economics of Education Review. https://doi.org/10.1016/j.econedurev.2019.101930

Kalwij, A., Alessie, R., Dinkova, M., Schonewille, G., van der Schors, A., & van der Werf, M. (2019). The Effects of Financial Education on Financial Literacy and Savings Behavior: Evidence from a Controlled Field Experiment in Dutch Primary Schools. Journal of Consumer Affairs. https://doi.org/10.1111/joca.12241

Koskelainen, T., Kalmi, P., Scornavacca, E., & Vartiainen, T. (2023). Financial literacy in the digital age—A research agenda. Journal of Consumer Affairs. https://doi.org/10.1111/joca.12510

Kurniasari, F. (2021). Implementation of GASING Stock Gamification to Increase Financial Literacy for High School Students. International Journal of Finance Research. https://doi.org/10.47747/ijfr.v2i4.507

Liverpool, S., Mota, C. P., Sales, C. M. D., Čuš, A., Carletto, S., Hancheva, C., Sousa, S., Cerón, S. C., Moreno-Peral, P., Pietrabissa, G., Moltrecht, B., Ulberg, R., Ferreira, N., & Edbrooke-Childs, J. (2020). Engaging children and young people in digital mental health interventions: Systematic review of modes of delivery, facilitators, and barriers. In Journal of Medical Internet Research. https://doi.org/10.2196/16317

Lopus, J. S., Amidjono, D. S., & Grimes, P. W. (2019). Improving financial literacy of the poor and vulnerable in Indonesia: An empirical analysis. International Review of Economics Education. https://doi.org/10.1016/j.iree.2019.100168

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

Partovi, T., & Razavi, M. R. (2019). The effect of game-based learning on academic achievement motivation of elementary school students. Learning and Motivation. https://doi.org/10.1016/j.lmot.2019.101592

Platz, L., & Jüttler, M. (2022). Game-based learning as a gateway for promoting financial literacy – how games in economics influence students’ financial interest. Citizenship, Social and Economics Education. https://doi.org/10.1177/14788047221135343

Qureshi, M., Mahdiyyah, D., Mohamed, Y., & Ardchir, M. (2022). Scale For Measuring Arabic Speaking Skills In Early Children’s Education. Journal International of Lingua and Technology. https://doi.org/10.55849/jiltech.v1i2.81

Rahadi, R. A., Putri, G. N., Nugraha, B. A., Faturohman, T., Boediman, A., Afgani, K. F., & Saputra, J. (2023). Does parental socialization affect financial literacy in Indonesia? International Journal of Advanced and Applied Sciences. https://doi.org/10.21833/ijaas.2023.05.008

Rai, K., Dua, S., & Yadav, M. (2019). Association of Financial Attitude, Financial Behaviour and Financial Knowledge Towards Financial Literacy: A Structural Equation Modeling Approach. FIIB Business Review. https://doi.org/10.1177/2319714519826651

Rizkan, M., Hartarto, R. B., Supiandi, S., & Hou, C.-T. (2022). The Role of Technology Information on Financial Literacy in Indonesia. Jurnal Ekonomi & Studi Pembangunan. https://doi.org/10.18196/jesp.v23i1.14148

Rizkiwati, B. Y., Widjaja, S. U. M., Haryono, A., Wahyono, H., & Majdi, M. Z. (2022). Financial Literacy Education Models for 7–12 Years Old Based on the Local Wisdom of Sasak Tribe Lombok Indonesia. Pegem Egitim ve Ogretim Dergisi. https://doi.org/10.47750/pegegog.12.02.05

Rosen, A., Trauer, T., Hadzi-Pavlovic, D., Parker, G., Patton, J. R., Cronin, M. E., Bassett, D. S., Koppel, A. E., Zimpher, N. L., Thurlings, M., Evers, A. T., Vermeulen, M., Obanya, P., Avsec, S., Nurzarina Amran, Liu, S. H., Petko, D., Aesaert, K., Van Braak, J., … Brown, N. (2015). WHAT IS THE BEST WAY TO ANALYZE PRE–POST DATA? Teaching and Teacher Education.

Setiawan, A., Praherdhiono, H., & Suthoni, S. (2019). PENGGUNAAN GAME EDUKASI DIGITAL SEBAGAI SARANA PEMBELAJARAN ANAK USIA DINI. JINOTEP (Jurnal Inovasi Dan Teknologi Pembelajaran) Kajian Dan Riset Dalam Teknologi Pembelajaran. https://doi.org/10.17977/um031v6i12019p039

Singh, K. (2018). Financial Literacy of African American College Students: Evidence and Implications from One Historically Black Institution. International Journal of Economics and Finance. https://doi.org/10.5539/ijef.v10n8p204

Swigonski, N. L., James, B., Wynns, W., & Casavan, K. (2021). Physical, Mental, and Financial Stress Impacts of COVID-19 on Early Childhood Educators. Early Childhood Education Journal. https://doi.org/10.1007/s10643-021-01223-z

Tien, N. H., Anh, D. B. H., & Ngoc, N. M. (2020). Corporate financial performance due to sustainable development in Vietnam. Corporate Social Responsibility and Environmental Management. https://doi.org/10.1002/csr.1836

Widyastuti, U., Sumiati, A., Herlitah, & Melati, I. S. (2020). Financial education, financial literacy, and financial Behaviour: What does really matter? Management Science Letters. https://doi.org/10.5267/j.msl.2020.4.039

Williams, P., Morton, J. K., & Christian, B. J. (2022). Enhancing financial literacy in children 5–12 years old using authentic learning within a school market garden programme. Education 3-13. https://doi.org/10.1080/03004279.2020.1851741

Xu, S., Yang, Z., Tong, Z., & Li, Y. (2023). Knowledge changes fate: Can financial literacy advance poverty reduction in rural households? Singapore Economic Review. https://doi.org/10.1142/S0217590821440057

Yafie, E., Ashari, Z. M., Samah, N. A., Widiyawati, R., Setyaningsih, D., & Haqqi, Y. A. (2023). The Effectiveness of Seamless Mobile Assisted Real Training for Parents (SMART-P) Usage to Improve Parenting Knowledge and Children’s Cognitive Development. International Journal of Interactive Mobile Technologies. https://doi.org/10.3991/ijim.v17i10.37883

Yafie, E., Nirmala, B., Kurniawaty, L., Sugiarti, T., Bakri, M., Hani, A. B., Setyaningsih, D., Kurniawati, L., & Rachmat, I. F. (2020). Supporting Cognitive Development through Multimedia Learning and Scientific Approach: An Experimental Study in Preschool. Universal Journal of Educational Research, 8(11C), 113–123. https://doi.org/10.13189/ujer.2020.082313

Yılmaz, S., & Özçiftçi, H. (2021). Financial Literacy in Children. Proceedings of 12 Th SCF International ….

Yong, S. H., Mon, C. S., & Shibghatullah, A. S. (2020). Impacting financial literacy for children using mobile application: A requirement analysis. Proceedings of Mechanical Engineering Research Day 2020 (Merd’20).

Zahra, D. R., & Anoraga, P. (2021). The Influence of Lifestyle, Financial Literacy, and Social Demographics on Consumptive Behavior. Journal of Asian Finance, Economics and Business. https://doi.org/10.13106/jafeb.2021.vol8.no2.1033

Zhou, J., Feng, S., Wu, L., & Wang, S. (2023). The Impact of Financial Education for Children: Evidence from an Experiment in China. Asia-Pacific Education Researcher. https://doi.org/10.1007/s40299-023-00716-2

Most read articles by the same author(s)