Financial Literacy and the Early Withdrawal of Funds From Retirement Accounts

2021 ◽  
pp. JFCP-20-00011
Author(s):  
Ashley Tharayil ◽  
William B. Walstad
Keyword(s):  
Financial Literacy ◽  
Demographic Variables ◽  
Precautionary Savings ◽  
Income Shocks ◽  
Financial Capability ◽  
Alternative Source ◽  
Early Withdrawal ◽  
Retirement Accounts ◽  
Personal Finances ◽  
Different Types

This study examined the association between financial literacy and the decision to withdraw funds from different types of retirement accounts before retirement. Data from the 2012 and 2015 National Financial Capability Study were used to investigate if financial literacy may potentially influence the decision to dissave from funds already set aside for retirement. The results showed that lower financial literacy appeared to increase the likelihood to retract funds saved for retirement, across different types of retirement accounts. The importance of financial literacy persisted, even after controlling for income shocks to personal finances, the availability of precautionary savings as an alternative source of funding, and an extensive set of demographic variables.

Build Financial Capability for All

2018 ◽  
Author(s):  
Jin Huang ◽  
Margaret S. Sherraden ◽  
Mathieu R. Despard ◽  
David Rothwell ◽  
Terri Friedline ◽  
...  
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Economic Hardship ◽  
Workforce Training ◽  
Social Policies ◽  
Income Generation ◽  
Financial Capability ◽  
Retirement Accounts

Nearly half of all American households are financially insecure, without adequate savings to meet basic living expenses for three months. We can significantly reduce economic hardship and the debilitating effects of poverty by adopting social policies that bolster lifelong income generation and safe retirement accounts; expand workforce training and re-training; and provide financial literacy and access to quality affordable financial services.

Formation of financial literacy in training of informatics teachers on the basis of the 1С:Enterprise system

2020 ◽  
Vol 1 (1) ◽  
pp. 11-18
Author(s):  
M. A. Rodionov ◽  
I. V. Akimova
Keyword(s):  
Financial Literacy ◽  
Basic Knowledge ◽  
State University ◽  
Science And Literature ◽  
Successful Development ◽  
Mathematics History ◽  
School Subjects ◽  
Personal Finances ◽  
The Right

In the submitted study the problem of the formation of financial literacy of students at informatics lessons and relevant training of future informatics teachers is considered. Financial literacy is understood as a set of basic knowledge in the field of finance, banking, insurance, as well as budgeting for personal finances that allow a person to choose the right financial product or service, soberly assess and take risks that may arise during the use of these products, correctly accumulate savings and identify doubtful (fraudulent) investment schemes. The authors conclude that successful development of meaningful lines of the course of financial literacy requires integration of a few school subjects, such as mathematics, history, informatics, social science and literature. The role of modern informatics teacher in the formation of financial literacy of students is great. Therefore, in the training of a future informatics teacher, it should be paid the attention to issues related to the study of elements of financial literacy in informatics lessons. In order to solve the problem, the authors propose to use the special course “Basics of work in 1С:Enterprise”, which is implemented at Penza State University. The article contains a program of the course and the methodological recommendations for its implementation.

scholarly journals Investigating the Extent to Which Personality Traits and Demographics Affect Job Satisfaction

2016 ◽  
Vol 4 (1) ◽  
pp. 70 ◽  
Author(s):  
Muhammad Sajid Saeed
Keyword(s):  
Job Satisfaction ◽  
Personality Traits ◽  
Negative Relationship ◽  
Demographic Variables ◽  
The Other ◽  
Retail Sector ◽  
Primary Concern ◽  
Different Types ◽  
The Uk ◽  
Ranking Analysis

The primary concern of this paper is to investigatethe extent to which three variables (i.e. personality traits, demographic variables, and job satisfaction) are interrelated with each other and what effect they have on each other in relation to the UK retail sector. The four different types of retail stores i.e. Tesco, Primark, Ikea and WH Smith were selected for survey purpose to minimise the class biasness.Total 300 close-ended questionnaires were distributed and 220 responses were obtained.The findings reveal that ‘Neuroticism’ is negatively associated with job satisfaction as well as with ‘Extraversion’. However, it is positively correlated with other three personality groups including ‘Agreeableness’, ‘Conscientious’, and ‘Openness’. On the other hand, ‘Openness to experience’ has a negative relationship with ‘Agreeableness’.It is also found from the ranking analysis that employees with ‘Agreeableness’ and ‘Conscientiousness’ personalities are more successful in their career and consequently they are more satisfied with their jobs.

scholarly journals Characterisation of cyclists’ willingness to pay for green initiatives at Africa’s largest cycle tour

2016 ◽  
Vol 19 (3) ◽  
pp. 432-439
Author(s):  
Melville Saayman ◽  
Waldo Krugell ◽  
Andrea Saayman
Keyword(s):  
Willingness To Pay ◽  
Carbon Footprint ◽  
Climate Change Mitigation ◽  
Demographic Variables ◽  
The Road ◽  
Road Cycling ◽  
Different Types ◽  
On The Road ◽  
The Right ◽  
Change Mitigation

The Cape Argus Pick n Pay Cycle Tour is a major event on the road cycling calendar. The majority of cyclists travel significant distances and participation produces a substantial carbon footprint. This paper examines participants’ willingness to pay to offset their carbon footprint. The purpose of this paper is to make a contribution to the literature by linking willingness to pay to attitudes towards or beliefs (green views) about the initiatives in place, to ensure a greener cycle tour. Factor analysis is used to identify different types of cyclists, based on their green views: those with green money, those who prefer green products and the “re-cyclers”. The results of the regression analysis reveal that socio-demographic variables and the right attitude towards the environment are significant predictors of stated willingness to pay for climate change mitigation.

scholarly journals Analysis of the Value and Advantages of Financial Literacy and Digitalization to the Individual

2021 ◽  
Vol 2 (2) ◽  
pp. 141-152
Author(s):  
Afzal Sayed Munna ◽  
Rehana Khanam
Keyword(s):  
Financial Literacy ◽  
Digital Literacy ◽  
Teaching And Learning ◽  
Research Study ◽  
Opportunity To Learn ◽  
Financial Capability ◽  
Management Level ◽  
History Of ◽  
Digital Knowledge ◽  
The Individual

Digital literacy is the ability to analyse, evaluate and create a teaching and learning media which enables adults and youth to understand complex communication, Aufderheide (1993). Therefore, this research study has examined how digital knowledge could provide an opportunity to learn financial capability. Fintech has transformed the history of the financial sectors and places an individual at significant advantages. However, Bankers, Teachers, Information Technology (IT) professionals and university students were selected for the research study from Bangladesh and England. Interviews were conducted with management level professionals. Survey and test questionnaires were developed and randomly directed to other participants to measure their financial and ICT knowledge. The research findings have found that present financial decision making, and the growth of assets depends on an individual adult’s financial capability.

scholarly journals Strategije suočavanja sa anksioznošću u situaciji testiranja engleskog jezika kod studenata visokog i niskog samopoštovanja

Praxis medica ◽  
2020 ◽  
Vol 49 (1-2) ◽  
pp. 23-27
Author(s):  
Marina Malobabić ◽  
Ivana Nešić ◽  
Vesna Jokanović
Keyword(s):  
Coping Strategies ◽  
Great Part ◽  
Self Esteem ◽  
Demographic Variables ◽  
Negative Evaluation ◽  
Language Anxiety ◽  
Older Students ◽  
Testing Situation ◽  
Language Classroom ◽  
Different Types

Introduction: Different types of tests present a great part of the academic life, and the tests themselves are extremely stressful situations for most students. The question of strategies used for coping with anxiety in testing situations is raised by the anxiety experienced by students and the levels of their self-esteem during tests. Aim of the paper: The aim of the paper is to take into consideration language anxiety, self-esteem and social and demographic variables as predictors of active use of strategies for coping with the testing situation. Material and methodology: This research included 338 students from five faculties/colleges, with an average age of 21.82±2.561, who were administered the following scales: Rosenberg's Self-esteem Scale, the Coping with the Testing Situation Scale and Foreign Language Classroom Anxiety Scale. Results: The Subscale for Language Anxiety during Testing has the highest reversed predictive value (beta=-0.43, p<0.001) of coping strategies for the testing situation; older respondents have less expressed ability of coping with the testing (beta=-0.23, p<0.001), and the higher the level of fear from negative evaluation (beta=0.21, p<0.001), the more the respondents are coping with the testing situation. Conclusion: The higher the testing anxiety, the less will the students use coping strategies, and the older students cope less with stressful testing situations, but the greater the presence of a more expressed fear of inefficiency, the more will the respondents cope with the testing situation through various strategies.

scholarly journals Adult’s Participation in Work-related Training: The Balance between Improving Job and a Desire for Learning

2016 ◽  
Vol 6 (1) ◽  
pp. 1
Author(s):  
Ana Inés Renta Davids ◽  
Manel Fandos-Garrido ◽  
José Miguel Jiménez-González ◽  
Ángel Pío González-Soto
Keyword(s):  
Factor Analysis ◽  
Quantitative Analysis ◽  
Continuing Education ◽  
Professional Training ◽  
Demographic Variables ◽  
The Other ◽  
One Dimension ◽  
Work Related ◽  
Different Types ◽  
Motivation To Participate

<p>The study draws on findings from a survey of adults in non-formal continuing education under the professional training for employment framework in Spain. Quantitative analysis was carried out to a sample of 425 respondents from three different educational providers. Firstly, a factor analysis was conducted to fourteen motives for participation items. A two-dimension model of motivation to participate was identified: one dimension oriented towards job-improvement and the other dimension oriented towards learning. Secondly, a variance analysis was conducted according to demographics variables. Results showed significant statistical differences in the first dimension according to demographic variables. This might indicates an instrumental motivation in participation in work-related training among different groups who try to cope with different types of drawbacks.</p>

scholarly journals ANALISIS LITERASI KEUANGAN MAHASISWA S-1 FAKULTAS EKONOMIKA DAN BISNIS UNIVERSITAS DIPONEGORO ANGKATAN 2014 - 2017

2018 ◽  
Vol 1 (2) ◽  
pp. 54
Author(s):  
Gina Sakinah ◽  
Bagio Mudakir
Keyword(s):  
Undergraduate Students ◽  
Financial Literacy ◽  
Financial Management ◽  
Parental Education ◽  
Descriptive Statistics ◽  
Financial Behavior ◽  
Primary Data ◽  
Personal Finances ◽  
Regression Test ◽  
And Behavior

Financial management failure occurs when students do not have good financial literacy. Students must have good knowledge, attitude, and behavior in managing their personal finances. This study aims to analyze the level of financial literacy of undergraduate students of the Faculty of Economics and Business at Diponegoro University class of 2014 to 2017 and the factors that influence it. Financial literacy in this study uses a financial literacy index consisting of components of the knowledge, attitude, and financial behavior of students. The research data uses primary data with questionnaires and sample of 100 students. Meanwhile, the method used in this study is descriptive statistics and multiple linear regression test (OLS). As a result, the level of student financial literacy is categorized as quite literary, that is 50.4%, influenced by age, GPA, parental education, and length of study. On the other hand, gender and income do not affect student financial literacy.

scholarly journals Personal Finance Knowlegde and Practice: An Opinion Survey with Employed and Self-employed People in Pokhara

2012 ◽  
Vol 7 (1) ◽  
pp. 80-99
Author(s):  
Puspa Raj Sharma ◽  
Yub Raj Bohara
Keyword(s):  
Financial Literacy ◽  
Financial Planning ◽  
Sampling Method ◽  
Personal Finance ◽  
Financial Knowledge ◽  
Short Term ◽  
Business Studies ◽  
Personal Finances ◽  
Knowledge And Practice

The ability to manage personal finances has become increasingly important in today's world. People must plan for long - term investments for their retirement and children's education. They must also decide on short - term savings and borrowing for daily life like a down payment for a house, a car loan, and other big - ticket items. Additionally, they must manage their different risk and insurance needs. This is might be the first survey about 'Personal Financial Knowledge and Practice' survey was conducted in 2011 with employed and Self-Employed people in Pokhara, Nepal. The survey revealed encouraging findings about how Employed and Self-Employed people of Pokhara approach money matters. This Personal financial literacy modeling research has been attempted to measure the literacy of Personal Finance with respect to their financial knowledge of different financial instrument and their practice or investment decisions. This study is based on stratified random sampling method with the help of financial literacy related parameters. This study has the intention to explore the skills of financial literacy; hence the objective was to test the basic financial knowledge of key products that is common to current society. In general, both categories have fairly healthy attitudes towards basic money management, financial planning and investment matters. Minorities of respondents of both categories save, monitor their spending and are generally responsible in the use of credit. Most of the respondents recognize the importance of financial planning and have done some basic financial planning.The Journal of Nepalese Business Studies Vol. Vii, No. 1, 2010-2011Page : 80-99Uploaded date: July 8, 2012

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