Republic of the Philippines

COTABATO FOUNDATION COLLEGE OF SCIENCE AND TECHNOLOGY

Barangay Doroluman, Arakan, Cotabato
Contact No. +639685331496
Email Address: admin@cfcst.edu.ph Website: www.cfcst.edu.ph

GRADUATE SCHOOL
Critical Article Analysis

DEGREE : Doctor of Education

MAJOR : Educational Management

Title: “Financial Literacy among the Youth in Switzerland”

Author: Michael Jan Kendzia, Yoan Suozzi Borrero Journal of Financial
Risk Management Vol.11 No.2，May 27, 2022
1. Introduction:
In the contemporary landscape of financial management, fostering
financial literacy among the youth has become a matter of paramount
importance, not only in Switzerland but across the globe. As a vital
component of individual and societal well-being, financial literacy equips
young individuals with the knowledge and skills necessary to make
informed financial decisions, navigate an increasingly complex financial
world, and ultimately secure their financial future. This study, authored by
Michael Jan Kendzia and Yoan Suozzi Borrero, published in the Journal of
Financial Risk Management, Volume 11, Number 2 in May 2022, delves
into the specific context of Switzerland, examining the state of financial
literacy among its youth population and shedding light on the challenges
and opportunities that exist in this critical domain. In doing so, this
research aims to contribute valuable insights for policymakers, educators,
and stakeholders, facilitating the development of effective strategies to
enhance financial literacy among the youth in Switzerland and, by
extension, in similar international settings.
2. Summary:

The study by Michael Jan Kendzia and Yoan Suozzi Borrero, published in
the May 2022 issue of the Journal of Financial Risk Management, delves
into the crucial domain of financial literacy among the youth in
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COTABATO FOUNDATION COLLEGE OF SCIENCE AND TECHNOLOGY
Barangay Doroluman, Arakan, Cotabato
Contact No. +639685331496
Email Address: admin@cfcst.edu.ph Website: www.cfcst.edu.ph

Switzerland. The research provides an in-depth analysis of the current

state of financial literacy in Switzerland and highlights both the challenges
and opportunities in enhancing financial knowledge among the youth
population. It explores the significance of financial literacy as a means of
equipping young individuals with the necessary skills to navigate the
complex financial landscape and make informed decisions that impact
their financial well-being. By shedding light on the specific context of
Switzerland, this study offers valuable insights to policymakers,
educators, and other stakeholders, aiming to facilitate the development of
effective strategies and initiatives to bolster financial literacy among the
youth in Switzerland and, potentially, in similar international settings.
3. Research Question and Hypotheses:
The research conducted by Michael Jan Kendzia and Yoan Suozzi Borrero
in the Journal of Financial Risk Management Volume 11, Number 2, May
2022, focuses on several key research questions and hypotheses
pertaining to financial literacy among the youth in Switzerland. Central
research inquiries revolve around assessing the current levels of financial
literacy among Swiss youth, identifying the factors influencing financial
literacy, and exploring the impact of financial education programs.
Hypotheses within this study may include expectations that the youth's
financial literacy levels are below the desirable threshold, factors such as
socio-economic background significantly influence financial literacy, and
that targeted financial education initiatives have a positive effect on
enhancing financial knowledge among young individuals. These questions
and hypotheses serve as the foundation for the study's empirical
investigations and findings, ultimately shedding light on the state of
financial literacy and its determinants among the youth in Switzerland.
 Republic of the Philippines
COTABATO FOUNDATION COLLEGE OF SCIENCE AND TECHNOLOGY
Barangay Doroluman, Arakan, Cotabato
Contact No. +639685331496
Email Address: admin@cfcst.edu.ph Website: www.cfcst.edu.ph

4. Methodology:
The research conducted by Michael Jan Kendzia and Yoan Suozzi Borrero
in the Journal of Financial Risk Management, Volume 11, Number 2, May
2022, employs a robust methodology to investigate financial literacy
among the youth in Switzerland. The study utilizes a mixed-methods
approach, combining quantitative surveys and qualitative interviews to
gather comprehensive data on the financial literacy levels of Swiss youth.
The quantitative aspect involves the administration of standardized
financial literacy assessments to a representative sample of young
individuals, enabling the researchers to quantify their financial knowledge.
Complementing this, qualitative interviews are conducted to gain deeper
insights into the factors that influence financial literacy, including socio-
economic backgrounds, educational experiences, and the effectiveness of
financial education programs. This methodological combination allows for
a holistic understanding of the subject and facilitates a nuanced analysis
of the research questions and hypotheses, ensuring a comprehensive
examination of financial literacy among the youth in Switzerland.

5. Literature Review:
The literature review in Michael Jan Kendzia and Yoan Suozzi Borrero's
study, published in the Journal of Financial Risk Management, Volume 11,
Number 2, in May 2022, provides a comprehensive overview of the
existing research on financial literacy among the youth, with a specific
focus on Switzerland. It begins by emphasizing the global significance of
financial literacy and its impact on individual and societal well-being. The
review highlights the pervasive challenges faced by youth, including
limited financial knowledge, increased financial complexities, and the
potential consequences of poor financial decision-making. It further
examines the various determinants of financial literacy, encompassing
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COTABATO FOUNDATION COLLEGE OF SCIENCE AND TECHNOLOGY
Barangay Doroluman, Arakan, Cotabato
Contact No. +639685331496
Email Address: admin@cfcst.edu.ph Website: www.cfcst.edu.ph

socio-economic factors, educational interventions, and family influences.

Notably, the review also underscores the importance of international
comparative studies in understanding the unique Swiss context. Overall,
the literature review lays the foundation for the study's investigation by
synthesizing key findings from previous research and pinpointing gaps in
the existing knowledge, thus framing the research questions and
hypotheses that guide this study on financial literacy among the youth in
Switzerland.
6. Results:
The results presented in Michael Jan Kendzia and Yoan Suozzi Borrero's
study, featured in the Journal of Financial Risk Management, Volume 11,
Number 2, in May 2022, reveal a multifaceted portrait of financial literacy
among the youth in Switzerland. The study's quantitative data analysis
demonstrates that Swiss youth's financial literacy levels fall below the
desired standard, underscoring the need for targeted interventions. Socio-
economic background emerges as a significant predictor of financial
knowledge, with disparities evident between various demographic groups.
Moreover, the qualitative findings from interviews provide a deeper
understanding of the factors influencing financial literacy, including the
role of educational experiences and family support. The study also sheds
light on the effectiveness of financial education programs, suggesting a
positive impact on enhancing financial knowledge. These results
collectively underscore the complex interplay of factors affecting financial
literacy among Swiss youth, emphasizing the importance of tailored
strategies to improve their financial preparedness in an increasingly
intricate financial landscape.

7. Discussion and Conclusion:

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Barangay Doroluman, Arakan, Cotabato
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In the discussion and conclusion of Michael Jan Kendzia and Yoan Suozzi
Borrero's study, published in the Journal of Financial Risk Management,
Volume 11, Number 2 in May 2022, the authors reflect on the critical
insights garnered from their research on financial literacy among the
youth in Switzerland. They highlight the significant disparities in financial
knowledge among different socio-economic groups, emphasizing the need
for more inclusive and accessible financial education initiatives. The
positive influence of financial education programs is underscored,
suggesting that targeted interventions can play a pivotal role in enhancing
the financial literacy of Swiss youth. The study concludes by emphasizing
the importance of policy measures that address the identified disparities
and the development of comprehensive, culturally sensitive financial
education programs. The findings and implications of this research offer
valuable guidance for policymakers, educators, and stakeholders seeking
to bolster the financial preparedness of the youth in Switzerland and, by
extension, in similar international contexts, ultimately contributing to
improved financial well-being and economic resilience among the younger
generation.
8. Contribution to Educational/Rural Development Financial
Management:
Michael Jan Kendzia and Yoan Suozzi Borrero's study on financial literacy
among the youth in Switzerland, as published in the Journal of Financial
Risk Management, Volume 11, Number 2 in May 2022, makes a
significant contribution to educational and rural development financial
management. By shedding light on the state of financial literacy and the
factors that influence it among Swiss youth, this research offers crucial
insights that can inform the design and implementation of financial
education programs in both urban and rural areas. The study's findings
underscore the importance of accessible and culturally relevant financial
education initiatives, which can serve as a catalyst for rural development
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COTABATO FOUNDATION COLLEGE OF SCIENCE AND TECHNOLOGY
Barangay Doroluman, Arakan, Cotabato
Contact No. +639685331496
Email Address: admin@cfcst.edu.ph Website: www.cfcst.edu.ph

by empowering young individuals with the skills and knowledge needed to

make informed financial decisions and contribute to their communities'
economic well-being. Thus, this research not only enhances our
understanding of financial literacy but also provides a foundation for
improving financial education strategies that can ultimately drive
educational and rural development in Switzerland and potentially serve as
a model for other regions facing similar challenges.
9. Strengths:

A notable strength of Michael Jan Kendzia and Yoan Suozzi Borrero's

study on financial literacy among the youth in Switzerland, as published in
the Journal of Financial Risk Management, Volume 11, Number 2 in May
2022, is its comprehensive research approach. By employing a mixed-
methods methodology that combines quantitative surveys and qualitative
interviews, the study offers a well-rounded and in-depth analysis of the
subject matter. This methodological diversity allows for both quantitative
measurement of financial literacy levels and qualitative exploration of the
underlying factors and experiences that influence financial knowledge
among Swiss youth. Such an approach enhances the study's credibility,
providing a nuanced understanding of the complexities involved in
addressing financial literacy. Additionally, by examining the Swiss context
specifically, the research offers valuable insights tailored to the local
situation, which can inform targeted policy and educational interventions,
making it a robust contribution to the field of financial literacy and its
improvement among youth in Switzerland.
10. Weaknesses:
A potential weakness in Michael Jan Kendzia and Yoan Suozzi Borrero's
study on financial literacy among the youth in Switzerland, as published in
the Journal of Financial Risk Management, Volume 11, Number 2 in May
2022, could be related to the representativeness of the study sample.
 Republic of the Philippines
COTABATO FOUNDATION COLLEGE OF SCIENCE AND TECHNOLOGY
Barangay Doroluman, Arakan, Cotabato
Contact No. +639685331496
Email Address: admin@cfcst.edu.ph Website: www.cfcst.edu.ph

While the research provides valuable insights, the study's sample may not
fully capture the diverse range of youth in Switzerland, potentially
omitting underrepresented or marginalized populations. This limitation
may restrict the generalizability of the findings and the ability to draw
conclusions that apply uniformly to all segments of the youth population.
Additionally, there might be some variations in financial literacy within the
diverse linguistic and regional contexts in Switzerland, and these nuances
could benefit from further exploration. Despite this, the study's insights
remain valuable for informing tailored interventions to improve financial
literacy among Swiss youth, and future research may consider expanding
the scope to encompass a more diverse and representative sample of the
population.
11. Overall Assessment:
The study by Michael Jan Kendzia and Yoan Suozzi Borrero on financial
literacy among the youth in Switzerland, published in the Journal of
Financial Risk Management, Volume 11, Number 2, in May 2022,
represents a commendable and comprehensive effort to examine an
essential issue. Its mixed-methods approach, combining quantitative
surveys and qualitative interviews, offers a well-rounded perspective on
the financial literacy landscape among Swiss youth. The study's
identification of disparities in financial literacy and its emphasis on the
impact of financial education programs are significant contributions to the
field. However, potential limitations, such as the representativeness of the
sample, should be acknowledged. Nonetheless, this research provides
valuable insights for policymakers, educators, and stakeholders,
contributing to the ongoing dialogue about enhancing financial literacy
among youth, which is a critical component of individual financial well-
being and societal development. It serves as a strong foundation for
targeted initiatives in Switzerland and potentially offers lessons for similar
international contexts
 Republic of the Philippines
COTABATO FOUNDATION COLLEGE OF SCIENCE AND TECHNOLOGY
Barangay Doroluman, Arakan, Cotabato
Contact No. +639685331496
Email Address: admin@cfcst.edu.ph Website: www.cfcst.edu.ph

12. Conclusion:
In conclusion, Michael Jan Kendzia and Yoan Suozzi Borrero's research on
financial literacy among the youth in Switzerland, as featured in the
Journal of Financial Risk Management, Volume 11, Number 2, in May
2022, underscores the significance of addressing the financial knowledge
gaps among Swiss youth. The study's mixed-methods approach has
provided a holistic understanding of the subject, offering insights into
both the quantitative measurement of financial literacy levels and the
qualitative exploration of factors that influence financial knowledge. By
highlighting the disparities in financial literacy and the positive impact of
financial education initiatives, the research points towards actionable
strategies for policymakers, educators, and stakeholders to improve the
financial preparedness of the younger generation. Despite potential
limitations, the study contributes significantly to the ongoing discourse on
financial literacy, paving the way for more targeted, inclusive, and
culturally sensitive programs that can empower Swiss youth to make
informed financial decisions and, in turn, bolster their own well-being and
the broader economic development of the nation.
 Republic of the Philippines
COTABATO FOUNDATION COLLEGE OF SCIENCE AND TECHNOLOGY
Barangay Doroluman, Arakan, Cotabato
Contact No. +639685331496
Email Address: admin@cfcst.edu.ph Website: www.cfcst.edu.ph

Submitted By: Johny Rey G. Galope, EdD2

-------------------------------------------------------
Course and Year

Submitted To: Dr. Harris M. Sinolinding

Graduate School Professor
Cotabato Foundation College
of Science and Technology

Date of Submission:_ November 5, 2023