This paper uses data on fifteen-year-old students participating in the 2018 OECD Programme for International Student Assessment to analyse two issues which are important for the development of youth’s financial skills: first, the link between financial literacy and maths skills, which are fundamental to understand notions such as inflation or interest rates; and second, the role of financial education at school and its link to financial literacy.
Students with higher scores in maths tests perform better in financial literacy, especially when maths teaching strategies are more oriented to activating cognitive abilities and the practical application of knowledge. Furthermore, students exposed to financial education at school achieve higher financial literacy scores.
