Financial Literacy Among High School Students in the Mexico City Metropolitan Area

In this paper we measure levels of financial literacy among Mexican high school students between the ages of 15 and 18, using a survey based on the OECD methodology and Lusardi and Mitchell's focus, which we applied to these students in Mexico City and the State of Mexico. Our results show low levels of financial literacy. Using "L&M" questions, we found that 60% of the students surveyed understood the concept of inflation, 45.3% correctly answered the question about risk diversification, and only 22.2% correctly answered the question about compound interest. Similar results were obtained when using the OECD approach. Finally, gender differences were slight but favored men and differences by type of school were larger, generally favoring private schools.