Focus group in Cyprus

Focus group in Cyprus

Summary

The focus group took place in the premises of the G C School in Nicosia, Cyprus, on 18/4/2024. In the Focus Group participated 5 teachers from the field of economics and accounting of the high school and we did a discussion based on the proposed questions. The discussion was about the management of personal finance among young people, and especially high school students (15-17 years old). The discussion focused also in the way that parents teach their children about financial management and the mentality in Cyprus. Furthermore, the teachers explained the specific courses that they teach and the learning outcomes of them.

Results

The participant agreed on the lack of knowledge of personal sustainable finance of young people, but they pointed the importance of involvement of the parents in the learning process. They strongly believed that the family plays an important role in this topic. They also believe that the overall mentality in Cyprus plays important role for the way that young people face their financial sustainability. Finally, they believe that the curriculum needs to be changed a bit in order to facilitate more interactive activities about financial literacy in youth.

Conclusions

The focus group held in Cyprus showed the importancwe of the parental involvement in the topic of personal financial management. Also, parents along with the educational system needs to cultivate the mentality of sustainability and the connection with the personal decisions to young people. Finally, in mediteranean countries, like Cyprus, families are not familiar with the idea of sustainability and this affects the choices of their children, even in financial decisions.
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