Browsing by Author "Market Research Services Limited"

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    Baseline financial literacy survey 2022
    (2023-04-20) Market Research Services Limited
    The aims and objectives of the Jamaica Baseline Survey were to: • Ascertain the level of financial literacy among secondary school In-school Youths and Out-of-school Youths (target group); • Assess the target group's awareness of the existence of financial instruments; • Assess the main delivery channels through which the target group receives information about financial services; • Measure the target group's understanding of the uses of financial services (for e.g. loans, mobile payment products); • Measure the target group's money management skills; • Examine the measures that the target group takes to protect themselves in the marketplace (understanding how interest is calculated, understanding fees imposed for services); • Measure the extent of usage of select financial instruments; • Identify the tools that the target group uses to assist them in their daily financial activities; • Determine where the target group acquires information about financial services; • Determine the levels of financial capability among the target group; • Identify the preferred delivery channels for communication of financial education content to target group; 9 April 20, 2023 • Measure the extent to which the target group is knowledgeable about simple contractual terms in contracts (e.g. fees, interest rates, principal); • Provide data to help channel resources effectively to the most vulnerable Market segments; • Develop a baseline against which changes in the level of financial capability in the target group can be assessed over time on a national level; • Assess the need for financial literacy and financial capability content among the target group; • Develop empirical data as input for the formulation and review of relevant policies and programmes; and • Prepare and submit a comprehensive report on the findings, methodology and recommendations from the survey.