CREATION OF AN INNOVATIVE TEACHING AID TO INCREASE THE LEVEL OF FINANCIAL LITERACY
M. Urbaníková1, T. Bencová1, A. Krivošíková1, B. Hívešová2
Background:
Current trends in education emphasize working with information technologies, which students can use to acquire information and knowledge more effectively and purposefully. Educational channels on various platforms and podcasts dedicated to interesting and educational topics have become part of the digital era, coupled with the necessity of incorporating innovative teaching techniques into the student education process. Educational videos are one of the most suitable learning techniques for students. When listening to and watching videos, students engage more senses and emotions than when reading extensive textbook texts, hence the footprint when watching a video is stronger and longer lasting.
Method:
The aim of the paper is twofold. The first task is to create an educational video for teaching the subject Financial Literacy. The second aim is to verify the hypothesis that the level of financial literacy of respondents determined using a questionnaire survey is statistically significantly different from the level of financial literacy after watching the developed educational material. The paper compares the respondents' knowledge of financial literacy before watching the educational video and after watching the educational video. Two sample t-tests will be used to evaluate evidence of an increase in the level of financial knowledge. With the help of statistical methods, it is verified how gender, age, educational attainment or economic status affects the level of financial literacy achieved.
Result:
As part of the research, an educational video was created that included basic economic concepts in the field of financial literacy. The selected respondents answered 11 finance based questions before and after watching the video. The questionnaire was completed by 130 respondents, who were classified based on gender, age, education level and the region where they live. When comparing the questionnaire results, positive changes were demonstrated (e.g., just 59.2% of respondents could distinguish the difference between leasing and consumer credit before watching the video and after this was already 83.1%). Using a paired t-test of two mean values of the dependent sets, a significant statistical difference was demonstrated between the levels of financial score values before and after watching the educational video. Subsequently, using a t-test of the agreement of two means, the questionnaire results were compared between demographic groups. The results show that economic status and education affect the level of financial literacy, while gender and age have no effect.
Conclusion:
The use of digital technologies and their integration into the teaching process represent a key role in the teacher's work. The article is evidence of how an educational video on financial literacy can significantly increase the level of financial literacy and at the same time increase the knowledge of basic economic concepts. This paper also aims to support future researchers on this topic.
Keywords: Digital financial literacy, distance education, educational video, financial literacy measurement, teaching aid.