We examine levels of financial literacy (knowledge, attitudes, self-efficacy, and behavior) among 15-year-old high school students in the Netherlands (N = 2,025), and investigate which factors are associated with diverse financial literacy components. Our findings show that certain population groups, such as immigrant students, those with lower cognitive and mathematical ability, those with low SES, those with mothers without a college degree, and those who do not discuss financial matters with family and peers, have lower levels of financial literacy. These findings are useful for designing effective financial education and intervention programs, and for identifying groups that may benefit from financial education programs the most. Financial education in high school is needed to ensure more equal opportunities.
Keywords: financial literacy; personal finance
JEL codes: D14