This table provides metadata for the actual indicator available from Vanuatu statistics closest to the corresponding global SDG indicator. Please note that even when the global SDG indicator is fully available from Vanuatuan statistics, this table should be consulted for information on national methodology and other Vanuatu-specific metadata information.
| Proxy |
No |
|---|---|
| Definition |
The “Proportion of Population with an Understanding of Very Basic Principles of Personal Financial Accounting” indicator measures the percentage of the population that possesses a foundational understanding of personal financial accounting concepts. This includes knowledge of basic financial tasks such as budgeting, saving, managing expenses, and understanding financial statements. |
| Concept |
This indicator assesses the level of financial literacy among the general population. It focuses on the ability of individuals to understand and apply basic financial principles to manage their personal finances effectively. This includes knowledge of creating and following a budget, understanding the importance of saving, managing debts, and making informed financial decisions. |
| Disaggregation |
Percentage |
| Rationale |
Monitoring the proportion of the population with an understanding of very basic principles of personal financial accounting is essential for evaluating the effectiveness of financial education programs and the overall financial literacy of a society. A higher proportion indicates that a larger segment of the population is equipped to make sound financial decisions, contributing to individual financial well-being and economic stability. Conversely, a lower proportion may suggest a need for enhanced financial education initiatives to improve financial literacy and empower individuals to manage their finances better. |
| Method of Computation |
To compute the “Proportion of Population with an Understanding of Very Basic Principles of Personal Financial Accounting,” first conduct a survey to assess the population’s understanding of basic financial concepts. Identify the respondents who demonstrate a basic understanding by meeting a predetermined threshold score. Then, calculate the proportion by dividing the number of respondents with a basic understanding by the total number of respondents, and multiply by 100 to express it as a percentage. Formula: Proportion with Basic Understanding= (Number of Respondents with Basic Understanding/Total Number of Respondents)*100 |
| Sustainable Development Goal Indicator Alignment |
8.10.1 8.10.2 |
| Unit of Measurement |
Percentage |
| Frequency of Collection |
Annually |