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In this article, the author provides a definition of the term “financial education management.” According to the author, financial education management is a process that takes place in many levels of education supervision. The aim of the study is to find out how much the financial education activities in Latvia that were implemented at school and in the country have contributed to the development of financial literacy achievements by comparing the PISA 2012 and PISA 2018 survey data. Schools that participated in PISA 2018 were also surveyed in order to find the aspects of financial education implementation in the school. The data shows that an increase has not been achieved in financial literacy within six years. Financial literacy is highly dependent on reading and mathematical literacy. Schools use relatively few financial institutions to help to educate students in the finance field. As shown, the study finds it is important that schools use the education services offered by banks and NGOs as they improve student understanding of the financial environment.

Development Trends of PISA 2012 and PISA 2018 Financial Literacy Achievements in Latvia