Financial Self-Efficacy as a Predictor of Academic Decision-Making and Career Readiness among Students with Special Educational Needs: A Quantitative Assessment

Abstract

Financial self-efficacy may play an important role in shaping educational and career-related outcomes among students with special educational needs (SEN). The purpose of this study was to investigate the connection between this population's financial self-efficacy, academic decision making, and job preparation. Structured assessment of financial self-efficacy, academic decision-making, and career readiness measures were used, as were selected demographic and educational characteristics, in a quantitative cross-sectional predictive design with 100 students with SEN. Data were analyzed using descriptive statistics, Pearson correlation and multiple linear regression. The results revealed positive relationships between financial self-efficacy and academic decision making as well as career readiness. There was a positive correlation between financial self-efficacy and academic decision making, as well as career preparedness. Multiple regression analysis also revealed that after controlling for relevant background factors, financial self-efficacy (FSE) continued to be a significant factor for both outcomes. Career guidance and educational progression was also seen as relevant to career readiness. This study indicates that confidence in their financial management may be linked to other areas of self-management, educational planning and transition readiness among students with SEN, and that education providers should thus strive to incorporate accessible financial education into their academic advising, career counselling, and transition support services. Additional longitudinal and intervention study is recommended to explore the effects of financial self-efficacy on long-term success in academic and career development.