Mexico | Financial education from childhood: school, family, and experience

In Mexico, differences in exposure to financial learning are observed across income levels. Higher-income adults report greater exposure from an early age, and these experiences are associated with relatively higher ownership of financial products.

Key points

• Key points:
• The largest income-related gap among the financial learning experiences analyzed is observed during adolescence: 63.7% of higher-income adults (Q5) received money to manage their own expenses, compared with 41.1% of lower-income adults (Q1), a difference of 22.6 pp.
• Exposure to financial education at school is more similar across income levels, but remains limited, reaching only 28.1% of adults on average.
• Those who received training on tracking their income and expenses have credit card ownership rates that are 19.2 pp higher and debit card ownership rates that are 18.6 pp higher. However, it is unknown whether the training occurred before or after they acquired these products.
• Those who managed an allowance during adolescence have higher rates of financial product ownership: 12.0 pp higher for credit cards, 8.2 pp higher for debit cards, and 6.8 pp higher for insurance, compared with those who did not have this experience.

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