Psychology of financial literacy of military personnel

2019 ◽  
Vol 4 (4) ◽  
pp. 1-9 ◽  
Author(s):  
Vladislav Petrov
Keyword(s):  
Military Personnel ◽  
Financial Literacy ◽  
Deviant Behavior ◽  
Positive Impact ◽  
Armed Forces ◽  
Self Control ◽  
Financial Behavior ◽  
Law Enforcement Agencies ◽  
Financial Responsibility ◽  
High Level

The article is devoted to the problem of psychology of financially competent behavior of servicemen. The psychological etiology of financial literacy / illiteracy of the personnel of the Armed Forces of the Russian Federation is shown. The study was conducted using: 1) content analysis of information (publications, materials of official inspections, etc.) about the attitude of the personnel of law enforcement agencies to money and financial behavior; 2) expert survey; 3) psychodiagnostic examination (method "California psychological questionnaire". Experts and subjects were 67 soldiers. The study found that financially literate / illiterate behavior is determined by a pattern of both General and specific qualities. The basis of the pattern of General qualities of a soldier with a financially competent command were such characteristics as responsibility, self-control and developed intellectual and prognostic abilities. Persons with financially illiterate behavior were distinguished by: inability to competently plan a personal budget; propensity to risky financial transactions; promiscuity and inattention to spending money; frivolous attitude to debts and loans; focus on spending money, not saving it. Thus, the more socially responsible is the behavior of the soldier, the more they demonstrate financially competent behavior. The material of the article allows to justify the involvement of military psychologists to solve the problem of improving the financial literacy of personnel. First of all, it concerns preventive psychodiagnostics of propensity of the military personnel to financially illiterate behavior. This should be followed by the provision of psychological assistance to persons in need of it, as well as the formation of the personnel of financial responsibility and predictability, the ability to plan and control personal spending. Ultimately, the work to improve the financial literacy of military personnel will have a positive impact on overcoming the problem of deviant behavior of personnel, as a consequence, to maintain a high level of combat readiness of the Armed Forces.

scholarly journals Methodology for assessing financial literacy behavior of military personnel

2020 ◽  
Vol 6 (1) ◽  
pp. 57-71
Author(s):  
Vladislav Petrov
Keyword(s):  
Military Personnel ◽  
Financial Literacy ◽  
Financial Risk ◽  
Personal Characteristics ◽  
Self Control ◽  
Financial Behavior ◽  
Diagnostic Tools ◽  
Normative Values ◽  
Financial Responsibility ◽  
Financial Awareness

The article is of a scientific and applied nature and is devoted to the description of the methodology for assessing financial literacy of military personnel behavior and its psychometric research. Instructions and incentive material of the questionnaire, normative values and interpretation of diagnostic scales are given. The questionnaire was tested on a sample of 526 military personnel of the Military University of the Ministry of defense of Russia. The proposed method allows us to evaluate the personal characteristics of military personnel, which have a Central influence on their financial behavior. In addition to the integral indicator - "military personnel's Propensity to financially literate behavior", eight partial characteristics are defined – financial awareness; the desire to look financially secure; the desire to plan a personal budget; a propensity to financial risk; attention to spending money and shopping; a propensity to financial savings; financial responsibility; financial self-control. The method allows you to predict the financial behavior of military personnel. Innovative diagnostic tools can be successfully used in psychoprophylactic work with the personnel of law enforcement agencies, as well as psychologists-researchers in the field of economic psychology.

Examining the Intention to Invest in Cryptocurrencies

2021 ◽  
Vol 10 (3) ◽  
pp. 59-79
Author(s):  
Quoc Trung Pham ◽  
Hiep Hai Phan ◽  
Matteo Cristofaro ◽  
Sanjay Misra ◽  
Pier Luigi Giardino
Keyword(s):  
Financial Literacy ◽  
Perceived Control ◽  
Perceived Risk ◽  
Positive Impact ◽  
Behavioral Control ◽  
Demographic Factors ◽  
Financial Behavior ◽  
Perceived Behavioral Control ◽  
Herding Behavior ◽  
Socio Demographic Factors

Among investors of cryptocurrencies there are supporters and detractors; this claims for the identification of the behavioral and socio-demographic factors that push to invest (or not) in cryptocurrencies. A survey has been administered to 275 Italian investors. Together with socio-demographic features (gender, income, age, and education), behavioral factors derived from the theory of planned behavior (attitude, subjective norm, and perceived control behavior) and from the financial behavior literature (illegal attitude, herding behavior, perceived risk, perceived benefit, and financial literacy) have been collected and analyzed. While attitude, illegal attitude, subjective norms, perceived behavioral control, herding behavior, and perceived risk have a positive impact on investors' intentions. Socio-demographic factors and financial literacy have no influence on the intention to invest in cryptocurrencies. This is the first study that comprehensively investigates the influence of behavioral and socio-demographic factors on the intention of investors to invest in cryptocurrencies.

A Study of Self Control and Deviant Behavior of Secondary School Students of Mirpur, Azad Kashmir

2020 ◽  
Vol 14 (4) ◽  
pp. 118-130
Author(s):  
Muhammad Zafar Iqbal ◽  
◽  
Jahan Ara Shams
Keyword(s):  
Public Schools ◽  
Secondary School ◽  
Secondary School Students ◽  
Deviant Behavior ◽  
Study Data ◽  
Self Control ◽  
School Students ◽  
Jammu And Kashmir ◽  
Azad Kashmir ◽  
High Level

This study aimed at finding the effect of self control (SC) on deviant behavior (DB) of Students. The approach of the study was quantitative. Causal comparative research design was used to investigate the effect of self control on students’ deviance. Students (8940) of grade 9th and 10th of all public schools of Mirpur, Azad Jammu and Kashmir (AJK) constituted the population of this study. Data were collected from 470 students of Mirpur, AJK. Out of them there were 291 males and 179 were females. Two scales, SC Scale originally developed by Grasmick et al., (1993) and Normative Deviance Scale by Vazsonyi et al., (2001) were adapted to measure the SC and DB of the students respectively. Descriptive statistics, t-test and linear regression were applied to analyze the data. Results of the study found a low level of SC and high level of DB among the secondary school students. Female were more SC led as compared to the males whereas male showed more DB than females. Regression analysis showed that SC has significant positive effect on the DB and it brings 49.8% variability in the DB of the secondary school students. It was recommended that SC related activities should be added into the curriculum at primary level as this is the best age for the development of SC into the students. Workshops and seminars should be held at Secondary Schools to bring awareness on the benefits of SC for the teachers and students.

scholarly journals Factors Affecting Financial Literacy and Financial Behaviour of Investors in Pakistan

2020 ◽  
Vol 1 (3) ◽  
pp. 80-90
Author(s):  
Muhammad Junaid Khan ◽  
Dr. Faheem Aslam ◽  
Syed Nisar-Ul-Mulk
Keyword(s):  
Cognitive Ability ◽  
Financial Literacy ◽  
Self Efficacy ◽  
Structural Equation ◽  
Research Study ◽  
Positive Impact ◽  
Financial Behavior ◽  
Equation Modeling ◽  
Financial Socialization ◽  
The Impact

The main purpose of our study is to find out the impact of financial socialization, cognitive ability, and self-efficacy on financial literacy and financial behavior of investors in Pakistan. This study has used a non-probability convenience-based sampling technique for collecting the data. A total of 429 individual investors were analyzed with the help of structural equation modeling (SEM) through Smart PLS. The results of our research study suggested that the participation of female investors as compare to male investors is very low. The main results of the study showed that cognitive ability and self-efficacy have a significantly positive impact on financial literacy, but an insignificant impact of these two variables on financial behavior was found. Findings also suggested that the influence of financial socialization on financial literacy is insignificant, while financial behavior is positively influenced by financial socialization and financial literacy. In mediating analysis cognitive ability and self-efficacy have positively affected financial behavior, while financial socialization has an insignificant effect on financial behavior through financial literacy. This research study provides important implications for researchers and other policymakers. Policymakers can formulate policies regarding trainings to improve the financial literacy of investors. Researcher can further investigate these variables for other segments of the society.

scholarly journals The role of self-esteem, optimism, deliberative thinking and self-control in shaping the financial behavior and financial well-being of young adults

PLoS ONE ◽  
2021 ◽  
Vol 16 (9) ◽  
pp. e0256649
Author(s):  
Fatima Hashmi ◽  
Hira Aftab ◽  
José Moleiro Martins ◽  
Mário Nuno Mata ◽  
Hamza Ahmad Qureshi ◽  
...  
Keyword(s):  
Young Adults ◽  
Financial Literacy ◽  
Sampling Technique ◽  
Well Being ◽  
Self Esteem ◽  
Self Control ◽  
Financial Behavior ◽  
Cognitive Factors ◽  
Financial Security ◽  
Financial Anxiety

The sustainable financial behavior and financial well-being have been a key concern among the developing societies; thereby encompassing the various psychological factors which play a role in influencing individual’s positive financial behavior and financial well-being, this study is conducted. Research focusing on the psychological aspect of human financial behavior and well-being is scarce, focusing more on the cognitive side such as financial literacy and numeracy. The aim of this research study is to find the role played by the non-cognitive factors such as self-esteem, self-control, optimism and deliberative thinking, in forming the financial behavior and financial well-being of the young adults. A sample of 429 university students from public and private sector was collected via an online and field survey using purposive sampling technique. The survey contained measures for demographics, self-esteem, optimism, deliberative thinking, self-control, general financial behavior and financial well-being. SPSS and PLS-SEM tools were used for the exploration of the relationships among dependent and independent variables. The results of PLS path analysis demonstrate that among the non-cognitive factors, self-control and deliberative thinking show a significant association with both financial behavior, and financial security. Self-esteem plays no significant role in forming the financial behavior of the young adults when all the variables are taken together but it exhibits a significant association with financial well-being (financial security and financial anxiety). Optimism on the other hand exhibits no significant association with both financial behavior and financial well-being (financial security and financial anxiety). The results of this study complement the previous studies and also put forth new outcomes. This research is unique as it is the first of its kind conducted in a consumption-oriented economy like Pakistan. In addition to the previous studies which have often established the link of self-esteem with general well-being, this study goes further by analyzing the association between self-esteem and financial well-being and by the identification of the role played by non-cognitive factors like self-esteem, optimism, deliberative thinking and self-control together on the financial behavior and financial well-being of the individuals using PLS-SEM approach.

scholarly journals Efficiency of military-applied sports to increase the level of cadets’ special physical fitness

2021 ◽  
pp. 111-114
Author(s):  
V. P. Yahodzinskyi ◽  
S. О. Yuriev ◽  
O. M. Kisilyuk ◽  
I. V. Hlibovuch ◽  
A. M. Nikitin ◽  
...  
Keyword(s):  
Physical Fitness ◽  
Motor Skills ◽  
Physical Training ◽  
Positive Impact ◽  
Armed Forces ◽  
Military Academy ◽  
Cross Country ◽  
High Level ◽  
The Military ◽  
The Impact

Modern conditions of military-professional (combat) activity of servicemen of the Armed Forces of Ukraine require a high level of development of their physical and volitional qualities, as well as military-applied motor skills. The most effective for ensuring the development and formation of these qualities and skills of servicemen are military-applied sports. Military pentathlon is a modern military-applied sport that is popular among cadets. The article examines the impact of military pentathlon on the dynamics of cadets’ special physical fitness. The study was conducted at the Military Academy (Odessa) in 2016–2021. The study involved cadets (ages 17–24) who attended a military pentathlon sports section (experimental group (EG), n = 30). The level and dynamics of special physical training of EG cadets were checked according to the exercises that are competitive in military pentathlon, during the annual military pentathlon competitions for the championship of Military Academy. The assessment was carried out according to the following tests: shooting with an AK-74, overcoming an obstacle course of 500 m, swimming 50 m with obstacles, throwing grenades, cross-country 8 km. It was found that at the end of training at the academy EG cadets significantly improved (p≤0,001) indicators: in shooting – by 36.8 points, in overcoming the obstacle course 500 m – by 59.2 s, in swimming 50 m with obstacles – by 5.4 is, in throwing grenades – for 38.9 points, in cross-country for 8 km – for 7 min 21.3 s. This indicates the positive impact of military pentathlon on the level of special physical training of cadets and the formation of their military-applied motor skills.

scholarly journals The Role of Knowledge Brokers in Improving Financial Literacy

2021 ◽  
pp. 75-103
Author(s):  
Chaouki Mouelhi ◽  
Hajer Hammami
Keyword(s):  
Structural Equation Modeling ◽  
Financial Literacy ◽  
Structural Equation ◽  
Positive Impact ◽  
Financial Education ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Equation Modeling ◽  
Knowledge Brokers ◽  
The Impact

Several governments around the world have tried strategies based primarily on financial education programs to improve the financial literacy of their citizens. In this study, we discuss a new strategy that involves using knowledge transfer activities carried out by intermediary agents, called financial knowledge brokers, to achieve significant improvement in financial literacy. Thus, the aim of this paper is to test the impact of the five activities of financial knowledge brokers (i.e., financial knowledge acquisition, financial knowledge integration, financial knowledge adaptation, financial knowledge dissemination, and creation of links) on financial literacy. For this, we built a database from a questionnaire carried out to nearly 103 financial advisers during the period June 2015 to June 2017. Overall, the results of Structural equation Modeling (SEM) technique showed that the financial knowledge brokerage activities (four of the five activities) have a positive impact on improving financial literacy as well as on its four dimensions, namely financial attitude, financial behavior, basic financial knowledge, and advanced financial knowledge. JEL classification numbers: D80, F65, G20, I20. Keywords: Financial literacy, Knowledge brokers, Structural equation modeling.

scholarly journals FINANCIAL WELL-BEING OF THE BENEFICIARIES OF THE MINHA CASA MINHA VIDA PROGRAM: PERCEPTION AND ANTECEDENTS

2021 ◽  
Vol 22 (2) ◽  
Author(s):  
KELMARA M. VIEIRA ◽  
AURELIANO A. BRESSAN ◽  
LUANA S. FRAGA
Keyword(s):  
Financial Literacy ◽  
Design Methodology ◽  
Negative Impact ◽  
Positive Impact ◽  
Well Being ◽  
Positive Influence ◽  
Three Dimensions ◽  
Financial Behavior ◽  
Literacy Strategies ◽  
Descriptive Statistical Analysis

ABSTRACT Purpose: This article has two main objectives: to measure the level of financial well-being (FWB) of the beneficiaries of the Minha Casa Minha Vida program (PMCMV) and test the hypothesis that financial literacy is an antecedent of the FWB. Originality/value: Considering that there is still no universally accepted definition and measure for the FWB (Brüggen, Hogreve, Holmlund, Kabadayi, & Löfgren, 2017), this study seeks to apply the methodology proposed by the Consumer Financial Protection Bureau (CFPB) in Brazil, since the previous applications attempts of other scales showed great instability. Also, the hypothesis that the financial literacy is a antecedent of the FWB is tested. Design/methodology/approach: To measure the FWB, the scale developed by the CFPB was used. Financial literacy was built from the three dimensions proposed by the Organisation for Economic Co-operation and Development (OECD), which are: financial behavior, attitude and financial knowledge. The instrument was implemented in 561 beneficiaries of the three funding ranges of the PMCMV. It was used for descriptive statistical analysis, confirmatory factorial analysis and multiple linear regression. Findings: The results indicated that the majority of the beneficiaries of the program present medium-low and medium-high levels of FWB. The hypothesis that financial literacy is an antecedent of the FWB was confirmed, and all three dimensions had a positive impact. Levels of income also presented a positive influence, whereas the fact of having dependents had a negative impact. The BEF measure proposed by the CFPB seems adequate to the Brazilian context. And advances in the national financial literacy strategies tend to increase the FWB of the Minha Casa Minha Vida program.

scholarly journals A DETERMINANTS OF FINANCIAL BEHAVIOR ON ACCOUNTING STUDENT

2020 ◽  
Vol 5 (37) ◽  
pp. 44-55
Author(s):  
Wirawan ED Radianto ◽  
Tommy C. Effrata ◽  
Liliana Dewi
Keyword(s):  
Locus Of Control ◽  
Financial Literacy ◽  
Self Efficacy ◽  
Positive Impact ◽  
Mental Accounting ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Financial Decisions ◽  
The Impact ◽  
Accounting Student

This study examines the impact of financial literacy, financial knowledge, locus of control, financial attitude, financial self-efficacy, and mental accounting on financial behavior. The study sample is an accounting student. There are 159 questionnaires that can be processed in total out of 250 distributed to the accounting selected at random. Hypothesis testing was conducted using multiple regression analysis. The result of the study shows that locus of control, financial attitude, financial self-efficacy, and mental accounting has a positive impact on financial behavior. However, this study found that financial literacy and financial knowledge do not affect financial behavior. This study also found that mental accounting has the most influence on financial behavior. This research contributes that mental accounting enables students to manage finances and make financial decisions.

scholarly journals The Effects of Financial Literacy and Self-Control towards Financial Behavior among High School Students in Bogor

2020 ◽  
Vol 5 (2) ◽  
pp. 73-86
Author(s):  
Jihaan Khoirunnisaa ◽  
Irni Rahmayani Johan
Keyword(s):  
High School ◽  
High School Students ◽  
Financial Literacy ◽  
Self Control ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Low Grade ◽  
High Grade ◽  
Grade School ◽  
School Students

This research aims to analyze the effect of financial literacy and self-control on financial behavior among Bogor High School students. This research was conducted in two public high schools in Bogor, West Java, Indonesia, that were selected based on the level of passing grade of the school (high-grade and low grade). In collecting the data, this study used a self-administered questionnaire. About 113 of senior high school students from science and social majors were selected as the sample. This study found that financial knowledge and financial attitude were on a moderate level. High-grade school students tend to have better financial knowledge and attitude than those from low-grade schools. The results of this study also show that the self-control of students was classified as a low category. Those from low-grade schools were more likely to have better self-control compared to students from the high-grade school. Furthermore, financial behavior, which consists of saving and spending behavior, were categorized as poor. There was a significant difference in financial knowledge, financial attitude, and self-control among both schools. The financial attitude was positively significantly related to financial knowledge and behavior. Self-control was associated positively with financial behavior. Further analysis of multiple linear regression shows a positive and significant effect of financial attitude and self-control towards financial behavior.

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