@article {896, title = {THE RELATION BETWEEN FINANCIAL KNOWLEDGE AND ECONOMIC DECISIONS}, journal = {Problems of Education in the 21st Century}, volume = {59}, year = {2014}, month = {April/2014}, pages = {Discontinuous}, type = {Original article}, chapter = {59-67}, abstract = {Nowadays policymakers, government agencies and educators in Poland and in many European countries emphasize the role of individual possibilities to take independent decisions regarding one{\textquoteright}s financial resources. Consequently, the increased interest in financial education programs is observed. Moreover, the complexity of financial products further demonstrates the need for a financial knowledge when making decisions in this sphere. However, simultaneously, the common observation of numerous examples of irrelevant decision-making, consequently leading to financial (e.g. abundant debt) or professional (e.g. loss of work) problems as well as results of studies on the level of financial knowledge show that in many cases our society, most probably, does not have the indispensable level of analyzed knowledge. The article presents results of 2 studies on the relation between financial knowledge and economic decisions made by Polish young adults. The study 1 focuses on the correlation between financial knowledge and saving decisions while the study 2 financial knowledge and respondents debts. In both studies the level of financial knowledge was measured by the test relating to the current economic situation of Poland, knowledge of basic economic and financial concepts and understanding of basic market mechanisms. Specially designed questionnaires analyzed respondents{\textquoteright} savings (study 1) and debts (study 2) decisions. The results of those studies show that examined a group of Polish young adults has an average level of financial knowledge. Moreover, the first study found positive correlation (on the level of statistical trend) between financial knowledge and savings decisions. The results of study 2 showed the higher financial knowledge among people who took credits or loans from bank in comparison with people who take credit and loans outside the banking system. Results obtained in the studies reinforce the idea of the important role of financial education in preparing young people to make their own economic decisions.}, keywords = {financial education, financial knowledge, young people}, issn = {1822-7864}, doi = {https://doi.org/10.33225/pec/14.59.59}, url = {http://oaji.net/articles/2014/457-1420361939.pdf}, author = {Sabina Ko{\l}odziej} } @article {885, title = {THE ROLE OF PARENTAL INFLUENCES ON THE ECONOMIC SOCIALIZATION OF CHILDREN}, journal = {Problems of Education in the 21st Century}, volume = {58}, year = {2014}, month = {March/2014}, pages = {Discontinuous}, type = {Original article}, chapter = {99-107}, abstract = {Knowledge and understanding of basic economic concepts is crucial for the future orientation of children in a world of economy and influences taken in this sphere behaviors. Therefore, the aim of formal and informal economic education is to prepare young people to make independent and smart decisions regarding his or her financial resources. Nowadays, children earlier and earlier begin activity on the market, thus the economic knowledge role increases. Article presents two studies analyzing the relation between parents behaviors and children economic knowledge, understanding of market mechanisms and their decisions regarding money. Study 1 focused on parents informal education activities in the sphere of economics. The research covered a group of 100 respondents (50 pairs {\textendash} parent and a child) and used questionnaires (separately for children and parents) on parents activity in the sphere of economic socialization. As a second part of the study children solved the Basic Economic Test (Walstad \& Robson, 1990) designed to measure the level of economic knowledge among school-aged children. The study 2 analyzed the relations between parents activity connected with economic socialization and children economic knowledge as well as behaviors related to saving, borrowing, lending and repayment of one{\textquoteright}s debt. In this study a group of 52 children took part and filled in a questionnaire on their economic knowledge and behaviors as well as their parents activities concerning economic socialization. Study 1 showed a positive correlation between parents informal education activity in the field of economics and the economic knowledge level of children. Study 2 showed higher levels of economic knowledge and more frequent attempts to earn money among children who receive pocket money. Results of both studies showed that the level of economic knowledge among children whose parents give them pocket money, explain economic issues and talk with children about planning household budget is significantly higher that among children who are not animated by parents. Moreover, parents activity in this field plays a vital role in shaping children{\textquoteright}s first economic activities. }, keywords = {economic education, economic knowledge, pocket money}, issn = {1822-7864}, doi = {https://doi.org/10.33225/pec/14.58.99}, url = {http://oaji.net/articles/2014/457-1420361444.pdf}, author = {Sabina Ko{\l}odziej and Katarzyna Lato and Magdalena Szyma{\'n}ska} }