scholarly journals Psychological analysis of the relationship of monetary installations and strategies of a person financial behavior

2021 ◽  
Vol 10 (4) ◽  
pp. 4369-4378
Author(s):  
A. V. Shperlin ◽  
S. G. Plotnikov ◽  
N. V. Mayborodina
Keyword(s):  
Financial Literacy ◽  
Human Life ◽  
Practical Importance ◽  
Psychological Adaptation ◽  
Financial Behavior ◽  
Russian Society ◽  
Behavioral Strategies ◽  
Study Results ◽  
Low Efficiency ◽  
The Relationship

The article presents study results of the relationship between monetary attitudes and strategies of a person's financial behavior. Factor analysis of the questionnaire by L. P. Tang «Money Ethic Scale» (MES) carried out on the Russian sample allowed identifying 5 agreed factors characterizing the respondent monetary attitudes: «Good», «Freedom», «Power», «Evil», «Budget». The structure of attitudes includes affective, cognitive, and behavioral components. The study reveales that Russian respondents are characterized by a contradictory and extremely emotional attitude towards money: along with the predominance of monetary values and attitude towards money as a supreme good and a symbol of freedom, at the same time there is a perception of money as an absolute evil, and a conviction of their harm to human life. The data obtained in the study indicate the prevalence of consumer, savings and debt models of financial behavior among the respondents, which can be explained by the peculiarities of the respondents' monetary attitudes among other things. The study results indicate the presence of a relationship between monetary attitudes and strategies of financial behavior, low efficiency of these strategies determined by the super emotional and irrational attitude towards money dominated in the modern Russian society. Prospects for further research are the analysis of the whole complex of factor, including individual-psychological characteristics influencing people's attitude to the material conditions of their own life and the choice of behavioral strategies in the economic sphere of life. In addition, the authors believe that to develop training and correctional programs contributed to raising the level of financial literacy, forming a rational attitude towards money, constructive strategies for financial behavior and effective economic and psychological adaptation of people in modern socio-economic conditions are promising and of practical importance.

scholarly journals Some Insights Into Financial Literacy Among Undergraduate Students: A Case of Bosnia and Herzegovina

2021 ◽  
Vol 12 (3) ◽  
pp. 103
Author(s):  
Jasmina Okicic ◽  
Meldina Kokorovic Jukan ◽  
Mensur Heric
Keyword(s):  
Undergraduate Students ◽  
Financial Literacy ◽  
Sampling Technique ◽  
Financial Education ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Financial Attitudes ◽  
Significant Difference ◽  
Financial Behaviour ◽  
The Relationship

The purpose of this research is to provide some insights into financial literacy among undergraduate students focusing primarily on the relationship between financial knowledge, financial attitudes and financial behavior and on possible gender and financial education gap in financial literacy. Using the purposive sampling technique, data collection was carried out from April to June 2020, yielding a sample of 1,046 valid responses. To gain a better understanding of the relationship between financial behaviour, financial attitudes and financial knowledge, we, primarily, use exploratory factor analysis and multiple regression model. The research findings have revealed several important issues. First, findings have suggested that financial knowledge, financial attitudes and gender may be considered as an antecedent of the financial behaviour of undergraduate students. Second, findings have also suggested a statistically - significant difference between the financial literacy of undergraduate students concerning their exposure to formal financial education.

scholarly journals Relation of Financial Literacy with Financial Attitude and Financial Behavior among Tharu Woman Small Borrowers

2021 ◽  
Vol 2 (10) ◽  
pp. 665-676
Author(s):  
Rashesh Vaidya ◽  
Ramseh G.C.
Keyword(s):  
Ethnic Group ◽  
Financial Literacy ◽  
Opportunity Cost ◽  
Financial Behavior ◽  
The Relationship

Tharu are an ethnic group indigenous to the Terai region of Nepal stretching from east to west low-land of Nepal. The Tharu communities are normally residing in most of the districts of the Terai belt of Nepal. The paper tries to find out the relationship between financial literacy with financial attitude and financial behavior among the Tharu community women of Nepal. Hence, the paper has conducted a survey among the Tharu women living at Nawlapur District of Gandaki Province of Nepal. The paper found that Tharu women who are in a saving group, mainly focused on income saving and looking for an opportunity cost. Similarly, Tharu women associated with a saving group, are mainly concerned with the utilization of the credit, they had taken and worked for the repayment of the credit in time. The study also found that financial literacy has highly influenced financial behavior among Tharu women of Nepal. At the same time, the level of financial literacy is not seen as highly influencing the financial attitude among the Tharu women of Nepal.

Financial literacy training programs and financial behaviour: Why people do not become “financially literate”?

2020 ◽  
pp. 80-93
Author(s):  
D. V. Kislitsyn
Keyword(s):  
Financial Literacy ◽  
Financial Behavior ◽  
Literacy Programs ◽  
Financial Decisions ◽  
Financial Decision ◽  
Improvement Programs ◽  
The Government ◽  
Low Efficiency ◽  
Economic Understanding

The paper takes a critical view on the prevalent approaches to developing financial literacy programs. It has been shown that meta-analytical and review studies indicate low efficiency of financial literacy improvement programs: their effect on financial behavior is either statistically insignificant or statistically significant, but practically negligible. Among potential reasons of financial literacy programs low efficiency the role of behavioral factors in financial decision making and the impossibility of determining “financially literate” behavior from the perspective of an outside observer are considered. It is concluded that the currently dominant criteria for assessing financially competent behavior can be characterized either as procedural, within which not the consequences of financial decisions are considered, but how consciously they are taken, or as normative, within which the government differentiates the consumers attitudes into wrong and right. Both groups of criteria are based on a non-economic understanding of rationality.

scholarly journals Financial Literacy and Financial Satisfaction: A Moderated Mediation Analysis of Self-Esteem and Financial Behavior

2021 ◽  
Vol 19 (1) ◽  
Keyword(s):  
Financial Literacy ◽  
Self Esteem ◽  
Mediation Effect ◽  
Financial Behavior ◽  
Financial Satisfaction ◽  
Policy Makers ◽  
Domain Specific ◽  
The Relationship ◽  
Self Administered Questionnaire

Recent studies suggest that domain-specific behavior contributes to domain-specific satisfaction. It is believed that finance-specific literacy brings positive financial behavior and healthy financial behavior further contributes to financial satisfaction. In general, this study has been undertaken to examine the effect of financial literacy on financial behavior and financial satisfaction. Data have been collected from 326 participants by using a self-administered questionnaire. Linear regression has been applied to test the hypotheses, while Preacher and Hayes method has been used to estimate the moderation and mediation effect. There is less knowledge about the mechanism that may clarify the link between financial literacy and level of financial satisfaction. This paper is the first of its kind in Pakistan to investigate the relationship between financial literacy and individual’s financial satisfaction with intervening role of financial behavior and moderating role of self-esteem. Study findings reveal that financial literacy is significantly related to both financial behavior and financial satisfaction. Further it is also observed that financial behavior plays intervening role in the relationship between financial literacy and financial satisfaction. Findings also reveal that self-esteem does not affect the link between financial behavior of individuals and financial literacy. This study provides several significant implications for individuals, organizations, academicians and policy makers, in the sense that increasing financial literacy is essential to form positive and healthy financial behavior which ultimately increases individual’s financial satisfaction with financial situation.

An investigation of financial literacy, money ethics and time preferences among college students

2019 ◽  
Vol 37 (3) ◽  
pp. 880-900 ◽  
Author(s):  
Asli Elif Aydin ◽  
Elif Akben Selcuk
Keyword(s):  
College Students ◽  
University Students ◽  
Financial Literacy ◽  
Time Preferences ◽  
Financial Behavior ◽  
Equation Modeling ◽  
Content Type ◽  
Financial Attitudes ◽  
The Relationship ◽  
Money Ethic

Purpose Financial literacy has a strong influence on financial well-being, and it is a concept especially important for college students who start to develop their financial habits. The purpose of this paper is to examine the relationship between financial literacy, money attitudes and time preferences among Turkish university students. Design/methodology/approach Data were collected from 1,443 university students from 14 campuses in Turkey. Structural equation modeling methodology is employed to test the hypotheses. Findings The results suggest that students with higher financial knowledge scores have more favorable financial attitudes and exhibit more desirable financial behaviors. It is also demonstrated that financial attitude is positively related to financial behavior. Furthermore, a significant and negative relationship between the affective dimension of the money ethic construct and financial behavior is found. In contrast, the relationship between the behavioral dimension of money ethic and financial behavior is positive. It is further demonstrated that a present orientation leads to more negative financial attitudes. Originality/value This study will reveal the interrelationships among dimensions of financial literacy, money ethics and time preferences in an emerging economy with a relatively little experience with formal financial systems and unstable macroeconomic conditions.

scholarly journals Emergy Based Decoupling Analysis of Ecosystem Services on Urbanization: A Case of Shanghai, China

Energies ◽  
2020 ◽  
Vol 13 (22) ◽  
pp. 6139
Author(s):  
Hengyu Pan ◽  
Yong Geng ◽  
Ji Han ◽  
Cheng Huang ◽  
Wenyi Han ◽  
...  
Keyword(s):  
Ecosystem Services ◽  
Soil Conservation ◽  
Water Retention ◽  
Practical Importance ◽  
Policy Implications ◽  
Sustainable Urban Development ◽  
Rapid Urbanization ◽  
Study Results ◽  
Decoupling Analysis ◽  
The Relationship

In order to respond to rapid urbanization, understanding the relationships between urbanization and ecosystem services (ESs) is of practical importance to move toward sustainable urban development. In this study, an emergy-GIS based method is proposed to evaluate ESs. Spatiotemporal emergy values of water retention (WR), air purification (AP), carbon sequestration (CS), soil conservation (SC), and biodiversity conservation (BC) were quantified and relationships among these ESs were analyzed by taking China’s largest city, Shanghai, as a case. The decoupling analysis was conducted to study the relationship between urbanization and ESs. Results show that the total value of regulating ESs had declined by 8.24% from 2005 to 2010. Chongming had the largest value of ESs, followed by Pudong. There is a synergetic relationship among AP, CS, and SC, while a tradeoff appears between WR and other services. Irregular “U” shape relationships between the decrease of ESs and urbanization indicators were observed. Results from decoupling analysis show that ESs experienced weak decoupling from urbanization in most districts. Finally, policy implications were raised based on the study results.

scholarly journals Factors Influencing College Student’s Financial Literacy

2019 ◽  
Vol 1 (2) ◽  
pp. 55
Author(s):  
Lady Lady
Keyword(s):  
College Students ◽  
College Student ◽  
Financial Literacy ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Money Management ◽  
Strong Impact ◽  
Independent Variables ◽  
Factors Influencing ◽  
Study Results

Awareness of financial knowledge in this era, especially college students, is still scarce. College students are one part of society which increasing each year in numbers and would have strong impact on the economy of a country. College student is one levelbefore get into the working level, which means they have to be more able to depend on their own self in managing their own finances. This study’s purpose is to analyze factors which affect financial literacy of college students in Indonesia. The independent variables used are money management, financial behavior, influence, attitude, and investment. This study survey usedgoogle form which has 28 questions. The sample of this study is 350 college students taken randomly. The data tested by using SPSS program. This study results proved that all of the independent variables affect significantly positive on the financial literacy.

scholarly journals Landscaping Pre-Service Teachers’ Stress Caused by Lack of Financial Management

2018 ◽  
Vol 8 (3) ◽  
pp. 172
Author(s):  
Ramanaidu Rao Ramesh ◽  
Ghanaguru Sharmini ◽  
Antonysamy Carolina Assunta ◽  
Prakash Nair Sadhna
Keyword(s):  
Logistic Regression ◽  
Distinctive Feature ◽  
Financial Literacy ◽  
Financial Management ◽  
Online Survey ◽  
Financial Behavior ◽  
And Gender ◽  
The Relationship ◽  
Determinant Factor

Age plays an important role in the financial behavior of people. Financial matters are usually more seriously perceived at later stages of life. Nevertheless, the role of age in financial behavior is inconclusive. This study intends to add to the literature on financial behavior by focusing on the relationship between expenditure planning, gender and stress. The distinctive feature of this study is its scope and the sample of people participating in it. Besides being young, the participants are pre-service teachers. Hence, studying their financial behavior also augurs well for the nation, for these are the shapers of its future. Using an online survey, 127 pre-service teachers responded to 17 questions, dwelling mainly on their financial behavior. Logistic regression was then used to identify whether expenditure planning is related to stress and gender. The findings reveal that the failure to plan one’s expenditures could cause stress and in which gender could be the determinant factor. Thus, it is recommended to take actions on higher rate of financial literacy among pre-service teachers.

The moderator effect of financial literacy on the relationship between locus of control and financial behavior

Kybernetes ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ümmühan Mutlu ◽  
Gökhan Özer
Keyword(s):  
Factor Analysis ◽  
Locus Of Control ◽  
Financial Literacy ◽  
Financial Behavior ◽  
Individual Investors ◽  
Moderator Effect ◽  
Content Type ◽  
Internal Locus ◽  
Internal Locus Of Control ◽  
The Relationship

PurposeThis study examines the effects of variables such as financial literacy and locus of control on the financial behavior of individual investors. Additionally, this article aims to reveal the moderator effect of financial literacy on locus of control and financial behavior.Design/methodology/approachResponses were collected from a questionnaire given to a convenience sample of 1,347 individual investors. Exploratory factor analysis (EFA), which reveals the factor structure of the scale, was used at the beginning of the study, and then confirmatory factor analysis (CFA) was performed to confirm this new factor structure. Hypothetical relationships were examined using structural equation modeling.FindingsThe study provides statistical support for the validity and reliability of the scales. The statistical results of the analysis reveal that financial literacy and locus of control have a positive effect on financial behavior. Moreover, the authors prove that financial literacy changes the relationship between internal locus of control and financial behavior. In conclusion, financial literacy plays a significant role as a moderator variable that interacts with locus of control.Originality/valueThe findings of the research are important in demonstrating empirical evidence for the theoretical correlations. In support of the current literature, this study has confirmed the positive effects of internal locus of control and financial literacy on the financial behavior of individual investors. In addition, it has been determined that the relationship between an individual's financial behavior and internal locus of control varies according to their level of financial literacy.

scholarly journals Effect of Financial Literacy and Lifestyle of Finance Student Behavior

2019 ◽  
Vol 1 (1) ◽  
pp. 76-86
Author(s):  
Ade Gunawan ◽  
◽  
Chairani Chairani ◽  
Keyword(s):  
Financial Literacy ◽  
Student Behavior ◽  
Financial Behavior ◽  
Coefficient Of Determination ◽  
Business Economics ◽  
Economics Faculty ◽  
And Behavior ◽  
Student Finance ◽  
The Relationship ◽  
North Sumatra

This study aims to examine the relationship between financial literacy and financial behavior of the lifestyle of the student and determine differences in financial literacy, lifestyle and behavior of student finance and business economics faculty. This research is quantitative data collection techniques using questionnaires. Sample used were 100 students consisting of students of the faculty of economics and business Muhammadiyah University of North Sumatra, this study uses judgment sampling. Data were analyzed using classical assumption test, multiple linear regression, t test, F test, and the coefficient of determination. Research shows that financial literacy has no effect on the financial behavior.

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