OECDPISA2029Financial LiteracyAssessment: PreparingStudentsfor theirFinancialFuture
Thisversion:March2025
What is financial literacy?
38 countries or economies have participated in one or more rounds
4 assessment rounds have already taken place, in 2012, 2015, 2018 and 2022
PISA defines financial literacy as knowledge and understanding of financial concepts and risks, as well as the skills and attitudes to apply such knowledge and understanding in order to make effective decisions across a range of financial contexts, to improve the financial well-being of individuals and society, and to enable participation in economic life.
What is the OECD PISA Financial Literacy Assessment?
Part of the OECD’s Programme for International Student Assessment (PISA), the PISA Financial Literacy Assessment is the only co-ordinated assessment of the financial literacy of students around the world. It provides information on the financial literacy levels of 15-year-old students and on their financial attitudes and behaviour, access and use of basic financial products and services, and exposure to financial education in school.
26%* of students do not have basic proficiency in financial literacy, meaning that they are not able to apply their knowledge to real-life situations involving financial issues and decisions.
How can countries and economies participate in the next OECD PISA Financial Literacy Assessment? The next OECD PISA Financial Literacy Assessment will take place in 2029.
Countries/economies should start discussions among relevant national authorities about their country/economy’s participation, as it is likely to require co-ordination across different ministries or authorities in charge of education and financial policies.
Countries/economies should express their interest in participating in the PISA 2029 Financial Literacy Assessment in early 2026, via their PISA Governing Board member. The list of PISA Governing Board members is available at https://www.oecd.org/en/about/programmes/pisa/pisa-governing-board.html
The OECD Secretariat will provide cost estimates around April/May 2026 (based on the number of countries/economies interested in participating).
Countries/economies should confirm their intention to participate in the PISA 2029 Financial Literacy Assessment around mid-2026.
Assessment.
Among 15-year-old students...
55%* hold a bank account
53%* hold a payment or debit card
83%* have bought something online in the previous year
High performers in financial literacy are 66%* more likely than low performers to save money, and 45%* more likely to compare prices in different shops before buying something.
Students from disadvantaged socio-economic backgrounds perform lower in financial literacy, with their background accounting for 12%* of the variation in performance.
Only two in three students* have been exposed to tasks exploring financial issues in schools.
Why is financial literacy important for young people?
• Many young people use financial products and services and make financial decisions. But many of them lack the necessary financial skills and knowledge to safely use financial products, whether digital or traditional.
• Financial literacy and positive financial behaviour are also linked. Students who have better financial literacy skills behave more responsibly financially and are more forward-looking and financially pro-active.
• Improving financial literacy will not only bring short-term improvements to students’ money management, it will also help them make smarter financial decisions as they grow older.
How will countries and economies benefit from assessing financial literacy through PISA?
Evidence at the country/economy level is essential to design effective financial education policies. PISA data and analysis will help countries and economies improve their policies to:
• Offer opportunities to acquire financial literacy in school to all students, regardless of their socio-economic background.
• Tackle socio-economic inequalities in financial skills and behaviours and foster financial literacy in students’ environment, including parents and peers.
• Strengthen students’ financial attitudes in addition to their knowledge and skills, to raise interest in money matters.
• Ensure that opportunities to learn through access to and use of financial services are safe and age-appropriate.
• Promote financial consumer protection frameworks to protect young financial consumers.
What information does the OECD PISA Financial Literacy Assessment collect?
• PISA offers a rich dataset across students, schools, and regions within countries and economies.
• The data are also analysed by gender, immigrant background and socio-economic status.
• The data on financial literacy performance are complemented by data on students’ financial attitudes and behaviour, their access and use of basic financial products and services, and their exposure to financial education in school.
*Data refer to the average across all participating countries/economies in the PISA 2022 Financial Literacy Assessment.
CONTACT
For further information on participating in the 2029 assessment, please contact the PISA Financial Literacy team: PISAFinancialLiteracy@oecd.org
The 2022 PISA Financial Literacy Assessment results are available at: https://www.oecd.org/en/publications/pisa-2022-results-volume-iv_5a849c2a-en.html