Presentation
In a pioneering effort to understand and improve financial education and culture in the Tecnológico de Monterrey community, a team of students from the Monterrey campus and faculty members of the Business School's FAIR Center have prepared the Financial Culture Report, an initiative that aligns with the FAIR Center's mission to foster an inclusive financial system, focusing on the student community to assess their level of financial literacy, as well as their skills and habits in this area.
The report, carried out in May 2023, and whose results have been analyzed and presented in the August-December semester of the same year, seeks to generate vital statistical information and develop financial culture indicators. This effort not only contributes to the creation of knowledge, but is also essential for the design of academic initiatives that promote inclusive and sustainable economic growth.
This ambitious project highlights the dedication of Tecnológico de Monterrey and its academic community towards the continuous improvement of financial education, recognizing its essential role in the development of a more informed, inclusive and economically stable society. With this report, the FAIR Center reaffirms its commitment not only to education, but also to the financial empowerment of future generations.
Methodology
The study methodology involved conducting a detailed survey, designed to unravel various aspects of the financial literacy of students on campus. The questions covered topics such as sources of information for financial training, the impact of Tecnológico de Monterrey in this area, motivations for saving, types of investments made by students, and general knowledge about insurance and retirement plans.
Rationale and relevance
“The results of the report not only offer insight into the current state of financial education and literacy among the institution's students, but also serve as a crucial tool for developing campus initiatives that promote financial well-being.” says Francisco Orozco, coordinator of the initiative and leader of the FAIR Center in the Monterrey region.
In addition, this report establishes an important precedent, since it is planned to be carried out annually to monitor the progress and effectiveness of the various projects focused on education, inclusion and financial well-being.
Authors
Professors Adriana Guerra Castellanos, Alicia Fernanda Galindo, Christian Reich, Francisco Orozco, Kathia Ramos, Mara Guzmán, Maricela García, Nuria Rojas and Vanessa Villarreal participated in the creation of the instrument and the preparation of the Financial Culture Report. As well as the students Abel Martínez, Antonio Fajardo, Fabiola Saucedo, José Eduardo Herrera and Juan Camilo Bautista.