IMPACT OF MONEY MATH EDUCATION AMONG

GRADUATES
Divya George Varghese
II year B.Ed. Mathematics
Mount Carmel College of Teacher Education for Women ,Kottayam

Abstract
Money math education in schools plays a crucial role in equipping
students with essential financial literacy skills necessary for navigating
real-world financial situations effectively. This study explores the
significance of integrating money math concepts into school curricula
and its impact on students' financial decision-making abilities. By
emphasizing practical applications and providing hands-on experiences,
money math education in schools empowers students to manage
personal finances, make sound investment choices, and achieve long-
term financial goals. Ultimately, a comprehensive money math
curriculum fosters financial independence and prepares students for
financial success in adulthood.

Key terms : Money management, budgeting, Percentage, financial

literacy, investment choice, financial goals, compound interest, simple
interest, discount

INTRODUCTION
Throughout our entire lives, we encounter the fascinating world of
money. It started with the simple act of counting coins and progressed
to calculating change, understanding percentage and even delving basic
knowledge of budgeting. While these exercises might seem mundane at
the time, they lay the foundation for crucial financial literacy skills that
college students and adults alike desperately need. Mastering money
math isn't first about balancing a checkbook, at empowering
individuals to make informed financial decisions, navigate complex
situations like budgeting for rent, groceries and ultimately achieve their
financial goal. As we move from the classroom to college and beyond,
the importance of money math only intensifies. The ability to
understand lean terms, calculate in investment choices becomes
paramount . In essence, the financial decision we make as an adult
foundation built in school is to face challenges effectively.

NEED AND SIGNIFICANCE

College students are often exposed to new financial responsibilities like
managing Students loon, budgeting for rent and making smart spending
choices. Money math skills becomes crucial for navigating this found
independence.
● Understanding Interest rates, loan terms and repayment plan help
students make informed decisions regarding student loan and
other forms of borrowing.
● By mastering money to control our moth, individuals gain the
financial future, making informed decisions that contribute to this
overall cell being and stability.
● As students begin investment options and calculate potential
return becomes critical for achieving long term financial goals.
● Money math education is significant because it empowers their
future.

Thus the present study was intended to find whether money math
education at school helped in their adult life.
TITLE OF THE STUDY
The title of the present study is "THE IMPACT OF MONEY MATH
EDUCATION AMONG GRADUATES"

OBJECTIVES
● To analyze the current money math education Curriculum at
secondary school level.
● Analyze the impact of money math education among graduates.

METHODOLOGY
The present study conducted through survey method among graduates
in Kottayam A sample of 20 graduates were selected. A questionnaire
consists of two sections: in which the first section consists of five
questions, which was related to their perceptions towards money math
education. Second section consists of three questions which were
Intended to test the mathematical problem
solving skills related to money math.

ANALYSIS AND INTERPRETATION OF DATA

(A) Money Math Education at Secondary Level
Class eight textbook covers various aspects of money math topic
including :
1. Understanding the concept of money math
2. Basic calculation with money
3. Earning and saving
4. Difference between Simple Interest and Compound Interest and
how to calculate it.
The textbook focuses on practical application of money math,
equipping essential skills students with for everyday life. However, it
does not delve into complex financial concepts like investment and
taxes.

(B)Impact of Money Math Education Among Graduates

The Item Wise analysis is given below:

 How often do people find them useful using math skills in their
daily lives?

The pie chart shows that 35% of respondents say they use math skills
frequently in their daily life. Another 25% said they use math skills
occasionally and 10% said they rarely use math skills and 20% of
respondents said they always use math skills. This suggests that math
skills are used fairly by most people.

 Have you found the money related concept learnt in school useful
in managing your personal finances as a college student?
The pie chart shows that the majority of respondent, 70% found the
concepts learned in money related school useful in managing their
personal finance as college students only 15% said they found them
not useful, and the remaining 15% said 'may be This shows that most
college Students find the math concepts they learnt in school helpful
for managing their finances.

 Looking back on your education do you feel that sufficient

emphasis was placed on learning mathematical concepts related
to money?

The pie chart shows that 45%. of respondents felt that sufficient
emphasis was placed on learning mathematics concepts related to
money and their education while 40%. felt somewhat prepared and
15% felt not prepared. This shows that a significant portion of the
respondents, 55% felt that their education did not fully prepared them
with the mathematical concepts related to money math management.

 How often do you find yourself utilizing money related

mathematical skills learned in school in your adult life?

The pie chart shows that 45% of people find themselves using money
related mathematics skills learned in school in their adult life. About
30% of people feel used often and the remaining 25% of respondents
find themselves using these skills often.

 Have you found the ability to budget and plan your finances
effectively is influenced by your understanding of money
mathematics?
The pie chart shows 80% people surveyed found that there
understanding of money
mathematics has influenced their ability to budget. Only 5% said their
ability was not influenced and 15% said maybe.

(C) PROBLEM SOLVING SKILLS RELATED TO MONEY MATH

1. A grocery store offers a 10% discount on purchases over Rs 1000

of your grocery bill comes to Rs 1200. How much do you save with
the discount?

RESPONSE No. of Respondents PERCENTAGE

Correct 17 85
Incorrect 4 15

2. You have a coupon that gives you 20% of your total purchase at a
bookstore . If your total comes to Rs 500 before the discount,
how much money do you save?

RESPONSE No. of respondents PERCENTAGE

Correct 14 70
Incorrect 6 30

3. A clothing store is having a buy one get one 50% sale If you buy a
shirts priced at Rs 400 each. How much do you pay in total after
this discount

RESPONSE No. of respondents PERCENTAGE

Correct 12 60
Incorrect 8 40

FINDINGS

● The survey results highlight the diverse experiences and

perspectives of the respondents regarding math skills usage and
financial literacy. While a significant portion found value in
applying math skills in daily life and managing finances, there's
also a need for improvement in educational emphasis on money-
related mathematical concepts.

● A significant portion of respondents (65%) reported using math

skills frequently or always in their daily lives. While a majority
engage with math skills regularly, there is still a notable portion
(35%) who use them only occasionally or rarely .These findings
highlight the ongoing relevance and necessity of math skills in
navigating everyday tasks and decision-making processes.
● The majority of respondents (70%) found the money-related math
concepts learned in school useful in managing their personal
finances as college students. While a significant portion
acknowledge the usefulness, there are still some (15%) who do
not perceive these concepts as beneficial, with an additional 15%
expressing uncertainty.

● The survey results indicate that nearly half (45%) of the

respondents felt their education did not place sufficient emphasis
on learning mathematical concepts related to money, such as
budgeting, interest rates, and investments. Only 40% felt their
education adequately addressed these concepts, highlighting a
potential gap in equipping students with practical financial skills.
While the remaining 15% were unsure, the overall findings
suggest a need for improvement in how financial math is
incorporated into the curriculum.

● The survey revealed that a significant portion of the respondents

(45%) reported ‘always’ utilizing money-related mathematical
skills learned in school in their adult lives. An additional 30%
indicated using these skills ‘often’, demonstrating the ongoing
importance of financial math concepts beyond academic settings.
While 25% reported using them only ‘sometimes’, these findings
suggest that the financial math skills learned in school continue to
be relevant and valuable for many individuals as they navigate
their financial lives.

● The survey results overwhelmingly demonstrate a positive

connection between understanding money mathematics and
effective budgeting. A significant majority (80%) of the
respondents indicated that their ability to budget and plan their
finances was ‘influenced’ by their grasp of financial math
concepts. This finding highlights the crucial role that financial
 literacy plays in empowering individuals to manage their finances
effectively. While a small portion (5%) expressed uncertainty
about the influence, and another 15% were unsure, the dominant
sentiment suggests that financial math skills are perceived as
valuable tools for financial planning and budgeting.

● The results indicate that a significant majority (85%) of the

respondents were able to correctly calculate the discount offered
by the grocery store, demonstrating their understanding of
applying basic percentage calculations in a financial context. This
suggests that a substantial portion of the population possesses
the necessary mathematical skills to navigate common financial
situations. However, it is also important to acknowledge the
presence of a minority (15%) who provided incorrect answers,
highlighting the potential need for continued emphasis on
financial literacy education.

● The survey results reveal that a sizable portion (70%) of the

respondents demonstrated the ability to calculate the discount
offered by the bookstore coupon. This indicates their
understanding of applying percentage reductions in a shopping
scenario. However, a notable minority (30%) provided incorrect
answers, suggesting a potential need for further emphasis on or
improvement in the teaching of such percentage-based
calculations.

● The survey results indicate that while a substantial portion (60%)

of the respondents were able to calculate the correct final price
considering the "buy one, get one 50% off" discount, a significant
minority (40%) provided incorrect answers. This suggests that
there might be a need for further explanation or practice with
interpreting and applying such promotional offers that involve
discounts on multiple items.
CONCLUSION

o The findings suggest that there is a significant reliance on math

skills in daily life among respondents.
o While the majority find money-related math concepts useful,
there is a notable proportion that feels insufficient emphasis was
placed on learning these concepts during their education.
o Despite this, a significant number reported frequently utilizing
money-related mathematical skills in their adult lives, indicating
the practical value of these concepts.
o The majority also found that their ability to budget and plan
finances was influenced by their understanding of money
mathematics.
Overall, while there is room for improvement in emphasizing money-
related math concepts in education, the majority of respondents seem
to benefit from and apply these skills effectively in their personal
finances and daily lives.

REFERENCE
● https://www.education.com/resources/money-math/
● https://www.education.com/resources/money-math/
● https://www.hsslive.guru/kerala-syllabus-8th-standard-maths-
solutions-chapter-5/
● https://ncert.nic.in/textbook/pdf/hemh107.pdf
● Hohmann.(2023).“The Importance of Money Math Education”
● Schreglmann (2006). "The Lifelong Impact of Money Math."
● Sangerijn (2005)"Making change." Money Matters Magazine.
● Guire(2015). "Money math for teens budgeting, saving and
investing."
● Vault(2014). "The Family Finance Fair."