Developing a Financial Literacy Storybook for Early Childhood in an Augmented Reality Context

Abstract

This study aims to develop and test the effectiveness of a financial literacy storybook based on augmented reality (AR) as an executive function-building intervention for early-age children. Executive functions are the cognitive abilities underlying such tasks as focusing on long-term goals, delaying gratification and impulse self-control. The method is research and development using the ADDIE (analysis, design, development, implementation, and evaluation) model. This learning media produced a positive response among the users. Children perceive the story’s attractiveness was good, while the 3D images and activity in the storybook were very good. This study also measures the effectiveness of a storybook based on AR in improving the understanding of financial literacy using a pre and post-test design. The results show that knowledge of honesty, discipline and money management increased significantly. In addition, there is a marginally significant increase in the aspects of delay gratification, saving goals and responsibility.

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