Can constructs related to creative thinking predict financial literacy?

Year 2025, Volume: 12 Issue: 1, 109 - 127, 30.06.2025

Gökhan Ilgaz

https://doi.org/10.5281/zenodo.15752939

Abstract

This study aims to determine whether concepts related to creative thinking can predict students' financial literacy and, if so, which variables are effective and how. At the same time, an attempt was made to determine how these models work according to gender. The study is a relational survey model conducted using data from students who participated in the creative thinking and financial literacy survey in the PISA 2022 study. The students are from Austria, Belgium, Brazil, Bulgaria, Canada, Costa Rica, the Czech Republic, Denmark, Hungary, Italy, the Netherlands, Poland, Portugal, Saudi Arabia, and the United Arab Emirates. While general regression analyses were conducted with 54513 students, gender-based analyses were conducted with 24493 students for girls and 24005 for boys. Creative thinking dimensions "Participation in creative activities at school (CREATAS)", "Creative thinking self-efficacy (CREATEFF)", "Creative peers and family environment (CREATFAM)", "Participation in creative activities outside of school (CREATOOS)", "Creativity and openness to intellect (CREATOP)", "Creative school and class environment (CREATSCH)", "Imagination and adventurousness (IMAGINE)”, and “Openness to art and reflection (OPENART)” were accepted as independent variables. The financial literacy score was used as the dependent variable, calculated using plausible values through the program. This study makes a unique contribution to the literature by examining the effect of creative thinking-related factors on determining financial literacy through multiple regression analysis. Remarkably, while the dimensions of creative thinking, especially those related to intellectual openness, imagination and social support, significantly predict financial literacy, on the other hand, it also shows that excessive participation in out-of-school investment activities may have a negative effect. Another prominent aspect of the study is that the above-mentioned findings are based on data from many countries. This has also revealed the effects of cultural context and educational environments by comparing countries. Although data from more than one country is available, the variance explained by the models, in general and particular, is low. This shows that financial literacy is multidimensional and cannot be explained only by creative thinking. Nevertheless, this study aims to fill the gap in the field by presenting multinational findings on the impact of creative thinking on financial literacy. In this context, although the effect size and direction differ, it can be stated with certainty that specific dimensions of creative thinking (e.g., imagination, intellectual openness, and social support) have a significant impact on financial literacy for both girls and boys. These results suggest that creativity is associated with processes such as life skills and decision-making and may have a positive impact on financial literacy.

Keywords

financial literacy , creative thinking , gender , PISA

Ethical Statement

No need to ethical committee permitance

Supporting Institution

No funding

Thanks

I would like to express my gratitude to the OECD for providing this data to researchers.

References

• Aycan, Ö., & Özbek, A. (2024). Finansal okuryazarlığın kariyer geleceği algısı üzerindeki etkisi: Üniversite öğrencileri üzerine bir araştırma. İşletme Akademisi Dergisi, 5(4): 379-395.
• Bandura, A. (1986). Social foundations of thought and action. Englewood Cliffs.
• Bandura, A. (1997). Self-efficacy: The exercise of control. Freeman.
• Beghetto, R. A. (2006). Creative self-efficacy: Correlates in middle and secondary students. Creativity Research Journal, 18(4), 447–457. https://doi.org/10.1207/s15326934crj1804_4
• Briguglio, M., Baldacchino, L., & Mangion, M. (2022). Assessing creativity in secondary schools: A focus on the impact of an arts‐based intervention. The Journal of Creative Behavior, 56(4), 501-520.
• Chen, D. (2021). Toward an understanding of 21st-century skills: From a systematic review. International Journal for Educational and Vocational Guidance, 23, 275–294. https://doi.org/10.1007/s10775-021-09511-1 1-20.
• Conner, T. S., DeYoung, C. G., & Silvia, P. J. (2016). Everyday creative activity as a path to flourishing. The Journal of Positive Psychology, 13(2), 181–189. https://doi.org/10.1080/17439760.2016.1257049
• Denervaud, S., Christensen, A. P., Kenett, Y. N., & Beaty, R. E. (2021). Education shapes the structure of semantic memory and impacts creative thinking. npj Science of Learning, 6(1), 35. https://doi.org/10.1038/s41539-021- 00113-8
• Doncean, M., & Doncean, G. (2022). Critical and creative thinking. Journal of Public Administration, Finance and Law, 24, 123-132.
• Egana-delSol, P. (2023). The impacts of a high-school art-based program on academic achievements, creativity, and creative behaviors. npj Sci. Learn. 8, 39. https://doi.org/10.1038/s41539-023-00187-6
• Fan H, Feng Y. & Zhang Y (2024) Parental involvement and student creativity: a three-level meta-analysis. Front. Psychol. 15:1407279. doi: 10.3389/fpsyg.2024.1407279
• Güvenç, H. (2017). Öğretim programlarımızda finansal okuryazarlık. İlköğretim Online, 16(3), 935-948.
• Güvenir, Z. (2023). Okul öncesi dönemde yaratıcılığı geliştiren fen etkinliklerine okul öncesi öğretmenlerinin bakış açısı ve yaratıcılık terimi. Balıkesir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 26(49), 61-83. https://doi.org/10.31795/baunsobed.880823
• Han, Q., Hu, W., Liu, J., Jia, X., & Adey, P. (2013). The influence of peer interaction on students’ creative problem- finding ability. Creativity Research Journal, 25(3), 248–258. https://doi.org/10.1080/10400419.2013.813754
• Hardy III, J. H., Ness, A. M., & Mecca, J. (2017). Outside the box: Epistemic curiosity as a predictor of creative problem solving and creative performance. Personality and individual differences, 104, 230-237.
• Hatipler, M. (2019). Sosyal politika ve eğitimde sınıf yönetimiyle ilgili program arayışına örnek olarak kübik program. Meriç Uluslararası Sosyal ve Stratejik Araştırmalar Dergisi, 3(7), 143-151.
• Ignatyeva, G. A., Vilkova, A. V., Timofeeva, E., Donskova, N. V., & Smorodinskova, I. A. (2018). Educational project as a way of improving students creative activity. Revista Espacios, 39(25).
• Ivancovsky T., Baror, S. & Bar, M. (2024). A shared novelty-seeking basis for creativity and curiosity. Behavioral and Brain Sciences, 47, e89: 1–76. doi:10.1017/S0140525X23002807
• Ivcevic, Z., & Brackett, M. A. (2015). Predicting creativity: Interactive effects of openness to experience and emotion regulation ability. Psychology of Aesthetics, Creativity, and the Arts, 9(4), 480–487. https://doi.org/10.1037/a0039826
• Justina, O., & Emmanuel, A. (2020). Effect of creativity on human capital development of Nigerian graduates entrepreneurs. Academy of Entrepreneurship Journal, 26(3), 1-9.
• Karataş, S., & Özcan, S. (2010). Yaratıcı düşünme etkinliklerinin öğrencilerin yaratıcı düşünmelerine ve proje geliştirmelerine etkisi. Ahi Evran Üniversitesi Kırşehir Eğitim Fakültesi Dergisi, 11(1), 225-243.
• Looi, C.-K., Wong, L. -H., So, H. -J., & Seow, P. (2009). An anatomy of a mobilized English preposition lesson: Toward personalized learning. In S. C. Kong, H. Ogata, H. C. Arnseth, C. K. K. Chan, T. Hirashima, F. Klett, J. H. M. Lee,
• C. C. Liu, C. K. Looi, M. Milrad, A. Mitrovic, K. Nakabayashi, S. L. Wong & S. J. H. Yang (Eds.), Proceedings of the 17th International Conference on Computers in Education (pp. 213-220). Hong Kong: Asia-Pacific Society for Computers in Education.
• Millî Eğitim Bakanlığı (2024). Türkiye yüzyılı maarif modeli öğretim programları ortak metni. https://tymm.meb.gov.tr/ortak-metin
• OECD (2014) PISA 2012 Results: Students and Money (Volume VI): Financial Literacy Skills for the 21st Century, PISA, Organisation for Economic Co-operation and Development, http://dx.doi.org/10.1787/9789264208094-en.
• OECD (2019). Future of Education and Skills 2030. Concept Note on Skills.
• OECD (2024). PISA 2022 Technical Report, PISA, OECD Publishing, Paris, https://doi.org/10.1787/01820d6d-en.
• Özdemir Ürün, B. C. & Oğuz Atıcı, V. (2024). An evaluation in terms of creativity and drawing in the preschool period. A. Kabadayı & Ö. S. (Eds.). New Approaches in Educational Sciences-2024 in (41-64). Livre de Lyon.
• Özerbaş, M. A. (2011). Yaratıcı düşünme öğrenme ortamının akademik başarı ve bilgilerin kalıcılığa etkisi. Gazi Üniversitesi Gazi Eğitim Fakültesi Dergisi, 31(3), 675-705.
• Özgenel, M., & Çetin, M. (2017). Marmara yaratıcı düşünme eğilimleri ölçeğinin geliştirilmesi: Geçerlik ve güvenirlik çalışması. Marmara Üniversitesi Atatürk Eğitim Fakültesi Eğitim Bilimleri Dergisi, 113–132. https://doi.org/10.15285/maruaebd.335087
• Park, H. S., Kang, S., & Kim, S. (2023). A longitudinal study of the effect of individual and socio-cultural factors on students’ creativity. Frontiers in psychology, 14, 1068554.
• Partnership for 21st Century Skills (2015). P21 framework definitions. Retrieved April 2, 2025, from https://www.battelleforkids.org/wp-content/uploads/2023/11/P21_Framework_DefinitionsBFK.pdf
• Permatasari, A. D., & Iftitah, K. N. (2023, October). The urgency and efforts to improve financial literacy in early childhood education: A literature review. In Proceedings International Conference on Education Innovation and Social Science (pp. 179-184).
• Pi, Z., Yang, Y., Zhao, X., Li, X., & Chen, S. (2025). Peers’ ideas enhance creativity in collaborative design. Learning and Instruction, 98, 102134.
• Pramitasari, M., Siti Syarah, E., Risnawati, E., & Shofiyah Tanjung, K. (2023). Early childhood financial literacy: A systematic literature review. Aṭfālunā Journal of Islamic Early Childhood Education, 6(1), 1-11. https://doi.org/10.32505/atfaluna.v6i1.5724
• Richards, R. (2007). Everyday creativity and the arts. World Futures, 63(7), 500–525. https://doi.org/10.1080/02604020701572707
• Simonton, D. K. (2016). Creativity, automaticity, irrationality, fortuity, fantasy, and other contingencies: An eightfold response typology. Review of General Psychology, 20(2), 194-204. https://doi.org/10.1037/gpr0000075.
• Sönmez, V. (2005). Eğitim felsefesi (7. baskı). Anı Yayıncılık.
• Susanti, I., & Kemala, R. (2023). The role of financial literacy in developing financial management skills in early children. Kompartemen: Kumpulan Orientasi Pasar Konsumen, 1(2), 85-89. https://doi.org/10.56457/kompartemen.v1i2.484
• Şahin, D. (2023). Mediating effect of creativity on how burnout affects social media use: An examination on physicians. SAGE Open, 13(4), 21582440231218528.
• Tes, V. & Heng, K. (2024). Financial literacy education: What it is and how it is needed for Cambodian students. Cambodian Journal of Educational Research, 4(1), 57-83.
• Turner, T. C. (1993). Literacy and machines: An overview of the use of technology in adult literacy Programs. Technical Report 93-3.
• Yang, J., & Zhao, X. (2021). The effect of creative thinking on academic performance: Mechanisms, heterogeneity, and implication. Thinking Skills and Creativity, 40, 100831.
• Yang, Z., & Hung, I. W. (2021). Creative thinking facilitates perspective taking. Journal of Personality and Social Psychology, 120(2), 278–299. https://doi.org/10.1037/pspa0000259
• Yıldırım, B. (2025). Preparing children for the future with environmental education. In C. Honrubia-Montesinos & A. Morcillo-Martínez (Eds.), Geography Education and Explorations on Human Development and Culture (pp. 265-288). IGI Global Scientific Publishing. https://doi.org/10.4018/979-8-3693-7185-5.ch009
• Žarnauskaitė, M. (2023). Young children's creativity education in the context of Lithuania: A systematic review. Thinking Skills and Creativity, 48, 101310. https://doi.org/10.1016/j.tsc.2023.101310