financial literacy in recent years developed and emerging countries and economies have become increasingly concerned about the level of financial literacy among their citizens especially young people oecdinfe finance is a part of everyday life for many yearold students they have bank accounts with access to online transactions and as they near the end of compulsory education students will also face complex and challenging financial choices such as whether to continue with formal education and how to finance their studies financial literacy is thus an essential life skill and high on the global policy agenda oecd a the assessment found wide variations in levels of financial literacy within and across countries oecd b