ABSTRACT
Prominent institutions such as the OECD advocate the importance of research on financial literacy and the promotion of financial literacy among the youth, especially with high school students. This is because financial literacy is increasingly considered an essential life skill. Financial education should start at school as people should be educated about financial matters as early as possible in their lives. Accordingly, this study examined financial literacy among high school students in a developing country context (Ethiopia). The study’s central research question is – is the financial literacy level among Ethiopian high school teenagers satisfactory? Such a research question is part of the global initiatives such as by OECD requesting scholars to showcase the level of financial literacy among young people in different contexts. The results are grim; the high school students exhibit serious deficiency, especially concerning knowledge of interest compounding, inflation, time value of money, and money illusion.
