Financial and Tax Education for Citizen Awareness in the School:Design and Implementation of an Interactive Strategy

Abstract

Objectives: This article presents the results of a research project conducted with the primary objective of fostering financial and tax education among high school students. The study sought to design and implement an interactive strategy aimed at strengthening students’ understanding of financial and tax-related concepts, with the ultimate goal of promoting civic awareness from an early age. The rationale behind this objective is rooted in the recognition that developing financial literacy and tax awareness during adolescence lays a foundation for more responsible citizenship and financial decision-making in adulthood. Thus, by introducing students to key concepts related to personal finance, public revenue, and their civic obligations, the project intends to reduce gaps in knowledge and stimulate proactive behaviors that benefit both individuals and society as a whole. In essence, the initiative reflects a long-term vision of shaping well-informed, financially capable, and socially responsible citizens. The study was conceived in response to a growing societal need: although students today are exposed to an increasingly complex economic environment, many lack the knowledge and skills necessary to navigate it successfully. Moreover, financial education is not only a tool for individual empowerment but also a mechanism for collective progress. Similarly, tax education helps future taxpayers understand the importance of compliance, thereby reinforcing the fiscal foundations upon which public goods and services depend. Consequently, recognizing these challenges, the project’s overarching objective was to integrate interactive, accessible, and engaging educational tools into the high school context of Riohacha, La Guajira (Colombia).

Materials and methods: The materials and methods employed in this study were aligned with a non-experimental, descriptive research design, specifically a cross-sectional field study with a quantitative approach. This methodological choice reflects the researchers’ aim to observe and describe existing conditions rather than manipulate variables or establish causality. To gather data, the team designed and administered a structured questionnaire consisting of 40 items organized on a five-point Likert scale, ranging from “strongly disagree” to “strongly agree.” This tool allowed for the systematic measurement of students’ attitudes, perceptions, and knowledge levels related to financial and tax education. Specifically, the study corresponds to a non-experimental descriptive research, with a cross-sectional field design, and a quantitative approach, administering a 40-item questionnaire with a five-option Likert scale to 69 eleventh-grade students, with an average age of 16 years, belonging to five schools in the municipality of Riohacha (La Guajira, Colombia). The instrument was validated by three experts, a pilot test was conducted on five students, and a Cronbach's alpha coefficient of 0.97 was obtained, demonstrating high internal consistency and reliability of the instrument used, guaranteeing the quality of the results. This methodological framework was designed not only to generate descriptive statistics but also to serve as a diagnostic tool, revealing the strengths and weaknesses of current educational practices related to financial and tax literacy. The quantitative approach was chosen because it facilitates the identification of trends, patterns, and correlations in students’ responses, thereby providing a solid foundation for designing targeted interventions.

Results: The results of the research notably revealed low levels of comprehension among students regarding key topics in financial and tax education. Many respondents demonstrated significant knowledge gaps in areas such as personal finance management, the role of financial institutions, basic budgeting, savings strategies, and the purpose and structure of municipal taxes. Consequently, this lack of understanding highlights critical deficiencies in their preparation for managing personal finances responsibly and fulfilling their future obligations as taxpayers. These findings underscore the need for systematic integration of financial and tax topics into school curricula. Without such integration, students risk entering adulthood without the skills or awareness necessary to make informed decisions about their money, comply with tax regulations, or appreciate the broader social implications of fiscal responsibility. Therefore, in response to these identified gaps, the research team developed a website titled “RIOHACHA-FINANZAS” (available at: https://mendozadarcyluz.wixsite.com/my-site). This digital platform is designed as a support tool for both students and teachers in the participating schools. By providing accessible and interactive content, the website seeks to complement traditional classroom instruction and serve as a resource for ongoing learning. The decision to create a website rather than a static document reflects the researchers’ commitment to innovation, interactivity, and scalability. In detail, the RIOHACHA-FINANZAS website is organized into five thematic units: Financial Education—covering the fundamentals of personal finance, including budgeting, savings, credit, and responsible consumption; Financial Products and Services—introducing students to the types of products offered by banks and other financial institutions, such as checking and savings accounts, loans, and investment options; Key Elements of Financial Education—providing an overview of essential skills and concepts, such as financial planning, risk management, and the relationship between income and expenses; Types of Municipal Taxes—explaining the various taxes collected at the municipal level, their purpose, and their role in funding public services; and Key Elements of Municipal Taxes—detailing how taxes are assessed, collected, and utilized, as well as citizens’ responsibilities and rights within the fiscal system. Each unit is designed with interactive features, such as quizzes, infographics, and short explanatory videos, to enhance student engagement and retention. By combining text-based learning with multimedia elements, the website aims to cater to diverse learning styles and ensure that complex concepts are presented in an accessible, age-appropriate manner.

Conclusions: This research confirms an urgent need to address weaknesses in financial and tax education among high school students. These weaknesses, if left unaddressed, could have long-term negative consequences, not only for individual financial well-being but also for the fiscal health of municipalities and the country as a whole. The study highlights the importance of developing interactive tools —such as the RIOHACHA-FINANZAS website— to promote responsible civic culture and enhance knowledge of personal finance from the school stage onward. By fostering early exposure to financial and tax concepts, educational systems can cultivate citizens who are more likely to make sound financial decisions, comply with tax obligations, and contribute to the collective good. This, in turn, can lead to increased municipal revenues, which may be translated into greater social benefits, including improved infrastructure, better public services, and expanded opportunities for community development. Furthermore, the study underscores the transformative potential of technology-based interventions in education. Interactive platforms such as RIOHACHA-FINANZAS not only supplement traditional teaching methods but also empower students to take charge of their own learning, explore topics at their own pace, and develop critical thinking skills relevant to real-life financial decisions. Teachers, too, benefit from having an accessible repository of resources aligned with their curricular goals. Ultimately, the project represents a call to action for policymakers, educators, and community leaders. It demonstrates that financial and tax education cannot be treated as optional or peripheral topics; rather, they are essential components of holistic education in the twenty-first century. By integrating such content into mainstream curricula and leveraging interactive tools, educational systems can better prepare students for the responsibilities and opportunities of adult life.