scholarly journals THE INFLUENCE OF FINANCIAL LITERACY ON WOMEN’S WEALTH IN BANDUNG, WEST JAVA

2021 ◽  
Vol 3 (8) ◽  
pp. 16-27
Author(s):  
Namira Anezka Ayasha ◽  
Raden Aswin Rahadi
Keyword(s):  
Financial Literacy ◽  
Wealth Accumulation ◽  
Financial Industry ◽  
Financial Products ◽  
Financial Difficulties ◽  
Current State ◽  
Moderating Factors ◽  
Literature Synthesis ◽  
Financial Behaviour ◽  
The Relationship

The current state of the financial industry is starting to provide various products and services to help individuals overcome their financial difficulties. To pursue the expansion of the financial industry, individuals must be financially literate in helping them manage their financial products and services. This paper aims to determine factors of financial literacy that influence women’s wealth accumulation. This research produced a simple conceptual framework on the relationship between financial literacy and women’s wealth accumulation based on literature synthesis. The framework suggested that financial knowledge, financial behaviour, and financial attitude will influence financial literacy. In contrast, as moderating factors, demographics will also influence women’s financial literacy. Thus, financial literacy will influence wealth accumulation.

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.

The Effect of Islamic Financial Literacy and Financial Inclusion toward Financial Planning among Millennial: Financial Behaviour as an Intervening Variable

2021 ◽  
Vol 1 (2) ◽  
pp. 60-67
Author(s):  
Lusiana Handayani ◽  
Basyirah Ainun ◽  
M. Yassir Fahmi
Keyword(s):  
Financial Literacy ◽  
Financial Planning ◽  
Quantitative Research ◽  
Living Condition ◽  
Financial Inclusion ◽  
Survey Method ◽  
Last Stage ◽  
Financial Behaviour ◽  
Two Stages ◽  
The Relationship

Islamic financial literacy and financial inclusion are important for improving the living condition of people. Combination of Islamic financial literacy understanding and high financial inclusion index will affect the behavioral ability of people in making financial planning. In Indonesia, Islamic financial literacy and inclusion are still low, not only for youngsters but also among adults. Even though good knowledge and access to Islamic finance will help millennials to be able to identify financial products and services as their financial planning. The aim of this study is to describe the influence of Islamic financial literacy and financial inclusion on financial planning by using financial behaviour as a intervening variable. This study is descriptive quantitative research. 96 respondents are involved in the study directly through a survey method. This study used 2 (two) stages of analysis. The first stage is to find the level of respondent Islamic financial literacy. The last stage is path analysis to determine the influence of each variable. Analysis results have shown that Islamic financial literacy has no direct impact on financial planning. However, Islamic financial literacy and financial inclusion have a significant impact on financial behaviour. Furthermore, the financial behaviour has mediated the relationship between Islamic financial literacy and financial inclusion with financial planning. It shows this affects toward financial planning is 26,4%.

scholarly journals CONCEPTUAL PAPER: THE RELATIONSHIP BETWEEN PARENT INCOME AND LEVEL OF FINANCIAL LITERACY AMONG UNDERGRADUATES UNIVERSITY

2021 ◽  
Vol 6 (42) ◽  
pp. 413-420
Author(s):  
Kujat Crister ◽  
Nur Yuhainis Ab Wahab
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Financial Stress ◽  
Financial Resources ◽  
Parental Income ◽  
Is Research ◽  
Financial Difficulties ◽  
Conceptual Paper ◽  
Low Levels ◽  
The Relationship

Parental income is one of the factors that can influence a person's financial literacy. This is because one of the sources of income for students to live their lives is through financial resources from parents. Therefore, the finances obtained will determine how a person can manage their expenses. In addition, the reduction in parental income due to the Covid-19 pandemic has resulted in reduced students income. Despite the reduction in income among parents, students still spend beyond their capacity and are unable to manage their finances properly. This is because low levels of financial literacy cause a person to be unable to manage his finances properly. Good financial management can help student undergraduates to avoid financial stress and other financial difficulties. Realising the issues and importance of financial literacy in life, there is research done to identify the relationship between parental income and financial literacy. But the results obtained by previous researchers are mixed. Therefore, the study focused on introducing a framework of concepts related to the relationship between parental income and the financial literacy of students and students.

scholarly journals A Study on the Impact of Financial Literacy on the Financial Behaviour of College Students

2021 ◽  
Vol 9 (4) ◽  
Keyword(s):  
College Students ◽  
Decision Making ◽  
Significant Influence ◽  
Significant Relationship ◽  
Financial Literacy ◽  
Modern Society ◽  
Financial Products ◽  
Financial Behaviour ◽  
The Impact ◽  
Gender Type

Financial literacy is increasingly vital as it has become essential that individuals acquire the skills to be able to survive in modern society and cope with the increasing diversity and complexity of financial products and services available. Financial literacy is the ability to take effective and sound decisions regarding the use and management of money. In the current era, no one can deny the importance of proper decision-making in the finance sector. If someone is not having enough financial literacy, how can he or she plan for a secure future! Especially when we talk about financial literacy among the students it is always a big matter because ultimately, they are the future of the country. The main objective of the study is to analyse the impact of financial literacy on the financial behaviour of college students. And also, the study examines the level of financial literacy among college students in India by evaluating the influence of various demographic factors like gender, type of courses, and income. The demographic, as well as financial behaviour and financial literacy, are the variables used in this study. Regression proved that there is a statistically significant influence of financial literacy on the financial behaviour of the students. And also, the demographics of student a has a significant relationship with financial literacy.

Demographic characteristics influencing financial wellbeing: a multigroup analysis

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nisha Prakash ◽  
Subburaj Alagarsamy ◽  
Aparna Hawaldar
Keyword(s):  
Financial Literacy ◽  
Work Experience ◽  
Financial Stress ◽  
Monthly Income ◽  
Content Type ◽  
Multigroup Analysis ◽  
Financial Behaviour ◽  
Job Category ◽  
The Relationship

PurposeThe study attempts to understand the factors impacting the financial wellbeing of IT employees in India using confirmatory factor analysis (CFA). It utilizes well-established survey instruments to assess the impact of financial literacy, financial behaviour and financial stress on financial wellbeing. The study also attempts to understand the role of demographic factors (age, gender, monthly income, job category and work experience) in determining financial wellbeing through multigroup analysis.Design/methodology/approachStructured equation modelling (SEM) is used to study the link between the determinants. The study also attempts to understand the role of demographic factors (age, gender, monthly income, job category and work experience) in determining financial wellbeing through multigroup analysis. Data used for the analysis covers 237 employees working in the IT sector.FindingsWhile financial literacy and financial behaviour have a significant positive impact on financial wellbeing, financial stress has a significant negative impact. Financial behaviour and financial stress were found to have a mediating role in the relationship between financial literacy and financial wellbeing. The demographic variables significantly moderate the relationship between the factors leading to financial wellbeing.Originality/valueThe results show the need for financial wellbeing programs to focus on enhancing financial knowledge and improving financial planning. Further, it suggests offering customized financial wellbeing programs based on the employee's demographic characteristics rather than following a “one program, fits all” approach.

scholarly journals Mind the gap: A discussion paper on Financial Literacy, Financial behaviour and Financial Education : Is there any Gender Gap?

2019 ◽  
Author(s):  
Maryam Sholevar ◽  
Laurence Harris
Keyword(s):  
Systematic Review ◽  
Gender Gap ◽  
Financial Literacy ◽  
Financial Education ◽  
Developed Countries ◽  
Gender Disparity ◽  
Discussion Paper ◽  
Financial Behaviour ◽  
The Impact ◽  
The Relationship

Most of the existing definitions and measurements of financial literacy have been tailored for developed countries. Although financial literacy and financial behaviour are usually assessed at the household level, the gender dimension of household agents is less explored which may overshadow the women’s low level of financial literacy.This is a selective systematic review aiming to survey the existing literature on financial literacy where the focus is on four main issues, namely. the conceptual framework for financial literacy and financial inclusion, the relationship between financial literacy and financial behaviour, the impact of gender on financial behaviour, and financial education. More than a hundred papers were reviewed and around twenty definitions and measures were analysed. On the basis of a thorough literature review, this paper identifies research gaps in each of the four main dimensions. The identified gaps are used to formulate four promising research ideas (PRIs). Specifically, the PRIs seek to: propose a new definition for financial literacy; review previous studies on analysing the relationship between financial literacy and financial behaviour; investigate the gender disparity and propose a novel method for financial training. Through a systematic review, we developed a native definition of financial literacy for developing countries.

scholarly journals Financial literacy and behavioural biases of individual investors: empirical evidence of Pakistan stock exchange

2020 ◽  
Vol 25 (50) ◽  
pp. 261-278
Author(s):  
Nosheen Rasool ◽  
Safi Ullah
Keyword(s):  
Financial Literacy ◽  
Stock Exchange ◽  
Individual Investors ◽  
Individual Investor ◽  
Chi Square ◽  
Content Type ◽  
Planning Decisions ◽  
Financial Decision ◽  
Financial Behaviour ◽  
The Relationship

Purpose Financial literacy is a crucial element of financial decision-making, exerting significant influence on the behaviour of individual investors, while making budgetary, house financing, stock investing and retirement planning decisions. So, the purpose of this research is to determine the relationship between financial literacy and behavioural biases of individual investors in Pakistan. Design/methodology/approach In this research paper, a sample of 300 observations was obtained through questionnaires from individual investors residing in Lahore and invested in Pakistan Stock Exchange. The data obtained, was passed through Cronbach’s Alpha and Exploratory Factor Analysis (EFA). The hypothesis developed for the research was tested by Pearson’s Chi-square and Ordinal Regression Analysis. Findings The hypothesis testing of the research concluded that there is a negative association between financial literacy and behavioural biases of individual investors. So, it means; with an increase in level of financial literacy, the likelihood of investor facing behavioural biases reduces. It also appeared that male respondents have more financial literacy than female respondents Originality/value Previous studies in the field of finance, identified different factors causing the financial behaviour of individual investor of Pakistan, and also focused on level of financial literacy in Pakistan, but these studies have not emphasized the crucial relationship between financial literacy and behavioural biases of individual investors. Thus, the unique empirical analysis developed in this paper has accentuated the financial literacy as a factor that mitigates behavioural biases of individual investor.

Demystifying Financial Literacy in Covid-19 Environment: A Review

2021 ◽  
pp. 420-431
Keyword(s):  
Financial Literacy ◽  
Financial Education ◽  
Well Being ◽  
The Elderly ◽  
Personal Finance ◽  
Financial Products ◽  
Financial Wellness ◽  
Reality Check ◽  
Relationship Of ◽  
The Relationship

The Covid-19 situation has thrown lights for a reality check about managing personal finance among the households. The research was designed in the context of the pandemic affecting the personal finance of millions of households. It stressed the need for financial literacy by explaining the various aspects – understanding the concept, identifying the benefits out of acquiring knowledge and skills in financial literacy, establishing the relationship of financial literacy with financial wellbeing, mapping the global situation in financial literacy, suggesting the remedial measures in ensuring financial wellness in the Covid-19 pandemic situation. The methodology of the study was to review the existing literature on financial literacy and education. The approaches and practices of financial education followed by countries interpreted by researchers in this field were reviewed and documented. The study contributes to the existing literature by summarizing the findings of the researchers in terms of knowledge one possesses in financial products and processes, the ability to make appropriate decisions to invest, borrow and secure, to understand the importance of savings and investment for retired life, etc. The global scenario versus India in financial literacy was brought out, throwing the light that India needs to travel further in the financial literacy landscape. It concludes by prescribing a series of financial wellness measures to make people resilient and reach financial well-being. The policy options suggested by the authors to start the learning of financial literacy from school education onwards, introduce financial education at the workplace, and implement financial education for the elderly and women invite the attention of policymakers and practitioners. The study can influence policymakers and practitioners to design target-specific financial education measures.

Financial Literacy: The Influencing Factors Among Youth

2021 ◽  
Vol 1 (2) ◽  
pp. 1
Author(s):  
Hazlaili Binti Hashim ◽  
Andy Lim Yee Chee ◽  
Yeo Sook Fern ◽  
Anushia Chelvarayan ◽  
Khairol Nizat Bin Lajis
Keyword(s):  
Financial Literacy ◽  
Credit Card ◽  
Questionnaire Development ◽  
Financial Knowledge ◽  
Family Influence ◽  
Wide Range ◽  
Familial Influences ◽  
Convenience Sampling ◽  
Financial Behaviour ◽  
The Relationship

Malaysia, like all other countries throughout the world, became a victim of the COVID 19 epidemic. Based on the Malaysia's Insolvency Department 2021 statistical data, the alarming increase of individual bankruptcy cases were caused by failure to pay personal loans, instalment purchases, and credit card debt especially amongst youth. This is concerning because it implies that young Malaysians are still oblivious to their financial circumstances. Hence, the goal of this research is to investigate the level of financial literacy among youth, as well as the relationship between financial knowledge, financial behaviour, financial attitude, and familial influences on financial literacy. A non-probability convenience sampling method was used to gather information from 181 respondents. The findings of the study show that financial knowledge (p=0.000), financial behaviour (p=0.000), and family influence (p=0.000), are significantly associated to financial literacy, the dependent variable in this study, with the exception of financial attitude (p=0.418). Time constraints, insufficient independent variables covered, questionnaire development, respondents' honesty, and respondents' inequity were some of the challenges encountered while conducting this study. The most significant limitation is the sample size, which does not represent the population of Malaysian youth. The findings of this study have broad implications for a wide range of stakeholders, including university students, curriculum developer, parents of students, and future researchers. In this study, the factors that influence financial literacy among youth were examined, and it was concluded that the youth literacy level was moderate. The findings of the study will also help to support the National Strategy for Financial Literacy, which runs from 2019 to 2023.

scholarly journals Factors Contributing To Financial Literacy Level Among Youth

2021 ◽  
Vol 1 (1) ◽  
pp. 30-35
Author(s):  
Hazlaili Binti Hashim ◽  
Andy Lim Yee Chee ◽  
Yeo Sook Fern ◽  
Anushia Chelvarayan ◽  
Khairol Nizat Bin Lajis
Keyword(s):  
Financial Literacy ◽  
Credit Card ◽  
Sampling Method ◽  
Financial Knowledge ◽  
Family Influence ◽  
Familial Influences ◽  
Convenience Sampling ◽  
Financial Behaviour ◽  
The Relationship ◽  
Significant Factors

The number of bankruptcy cases registered from 2017 to April 2021, according to the Malaysian Insolvency Department, is 58,065. Bankruptcy cases involving people under the age of 34 accounted for 24.28 percent of all filings. The inability to pay personal loans, instalment purchases, and credit card debt led to the majority of bankruptcy cases. This is alarming because it suggests that young Malaysians are still unaware of their financial situation. As a result, the goal of this research is to investigate the level of financial literacy among youth, as well as the relationship between financial knowledge, financial behaviour, financial attitude, and familial influences on financial literacy. A non-probability convenience sampling method was used to gather information from 181 respondents. The findings of the study show that financial knowledge (p=0.000), financial behaviour (p=0.000), and family influence (p=0.000) are significantly associated with financial literacy, the dependent variable in this study, with the exception of financial attitude (p=0.418). The sample size is among the limitation of this study which it does not represent the population of youth in Malaysia. The conclusions of this study have significant consequences for a variety of stakeholders, including university students, universities, students' parents, government, and future researchers. The factors that influence financial literacy among youth were investigated in this study, and several significant factors were revealed. This will also add to the supports of the agenda in the National Strategy for Financial Literacy 2019 to 2023.

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