Teenagers in Ukraine Have an Initial Level of Financial Literacy: NBU Research Results

For the fourth year in a row, education in Ukraine has been operating under conditions of full-scale war. For children, this means not only interruptions in the educational process, the transition to remote or mixed formats, frequent alarms and staying in shelters, but also a decrease in access to systematic and equal education. Some students were forced to change schools due to relocation, some study abroad or at home. In such conditions, the educational system faces not only the task of maintaining the basic level of knowledge, but also of laying skills that have long-term significance – in particular, in the field of financial literacy. The National Bank of Ukraine indicates that the financial literacy of teenagers remains on the periphery of the school curriculum.

The level of financial knowledge: the general picture

In Ukraine, for the first time, a study of the level of formation of the competence “Entrepreneurship and financial literacy” among 10th graders was conducted. The initiator was the National Bank of Ukraine in cooperation with the public organization Junior Achievement Ukraine. Field research was carried out by the Oleksandr Yaremenko Ukrainian Institute of Social Research. The formation of the sample was provided by the Institute of Educational Analytics. The survey covered 97 schools in 19 regions of Ukraine and the city of Kyiv, the total number of respondents — 3,139 students aged 14 to 17.

The purpose of the study was to record the current state of knowledge and skills of schoolchildren in the specified field – before the new subject “Entrepreneurship and financial literacy” is introduced into the school curriculum in the 2025-2026 academic year. It is planned to make it mandatory for 8th graders, and later for 9th graders. In 2027, the second stage of the study is expected, which will allow to evaluate the dynamics of the results and the effectiveness of the introduced teaching methods.

The structure of the survey included 21 thematic tasks modeled after the international PISA program in the field of financial literacy. In addition, students filled out a questionnaire with 20 questions, which revealed additional factors affecting their academic performance.

According to the results of the study, the average number of correct answers is 46.6%. This corresponds to approximately 3 points on a 12-point system, which formally means an initial level of knowledge.

The highest results were demonstrated by students from Dnipropetrovsk region (57.4% of correct answers), Ivano-Frankivsk region (53.7%) and the city of Kyiv (50.4%).

The lowest results were recorded in Kirovohrad region (37.4%), Mykolaiv region (39.7%) and Chernivtsi region (41.4%).

None of the participants gave 100% correct answers. This indicates not only a general lack of knowledge, but also a systematic lack of deep understanding of key concepts in the field of finance among the majority of respondents.

Gender and regional differences

The difference between boys and girls is recorded in the structure of the results. Girls had slightly higher results — 47.4% versus 45.6% for boys. There was also a noticeable difference between students of urban and rural schools — 48% versus 40%, respectively. This correlates with known gaps in access to resources and a stable learning environment in wartime, which are particularly acute in rural areas.

Socio-economic factor

One of the key trends recorded by the study is the direct relationship between the level of financial literacy and the socio-economic status of the family. Teenagers from low-income families, especially those without experience using banking or mobile financial tools, performed the lowest. Pupils who are not in the habit of talking to their parents about money or savings turned out to be vulnerable as well.

What affects financial literacy

Despite the low average level, the study made it possible to identify several factors that contribute to better assimilation of knowledge:

• own experience of using financial products — planning expenses, saving, managing a budget;
• regular discussion of finances in the family – in particular, conversations about expenses, earnings, goals;
• self-education — through books, online courses, videos, internet materials.

These factors work regardless of the type of school or place of residence and directly affect the student’s ability to apply knowledge in practice.

According to the results of the research, 77.6% of the surveyed teenagers believe that a course on financial literacy must be introduced at school. This indicates not only the students’ readiness for change, but also a request from within the educational community itself.

It is already clear that in the conditions of wartime, instability and constant burden on families, financial literacy is important knowledge. For many schoolchildren, this is a way to understand the role of money in life earlier, avoid debt traps, understand the basic terms of contracts, and assess financial risks. And that is why its introduction into the curriculum is justified not only from an educational point of view, but also from a social point of view.