YOUTH FINANCIAL LITERACY: A PILOT STUDY FOR A NATIONWIDE EDUCATION PROGRAM IN MOROCCO

Soukaina Megzari¹ and Abdelhamid Hamidi Alaoui²*
¹Ms., Al Akhawayn University, MOROCCO, s.megzari@aui.ma
²Assistant Professor, Al Akhawayn University, MOROCCO, a.hamidialaoui@aui.ma
*Corresponding author

Abstract
In light of the increased financial stains experienced in our world today, several countries have taken initiative to improve the levels of financial literacy of their young population. Western countries, including the United States and the United Kingdom, have implemented financial literacy in the curriculums of their primary and secondary school education systems. Other eastern countries, including a general analysis of the MENA region, have been less proactive and targeted in their programs. Rather, they have simply introduced general financial literacy agendas for the entire population through external institutions and programs. The aim of this pilot study is to analyze the financial literacy rate in the Moroccan young population, between ages 20 and 35, and examine the attitude and awareness of the population with regards to their financial spending. Based on the results of this pilot study, a financial literacy program would be beneficial to the Moroccan population by improving financial management and general economic standing. This can be concluded, as people with higher financial literacy are more likely to save money, better manage their income, and plan their future careers. Financial literacy was found to be a very important area of study that should be improved in Morocco in order to improve the population’s financial management. As future research, a comprehensive study of the nation has to be conducted along with experimental testing of the program to conclude determine the significance of such a program for the Moroccan nation. Nonetheless, it has been found, that a financial literacy curriculum can improve financial management and individual planning.

Keywords: Financial Literacy, Youth, Morocco, Money Management, Spending, Education