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 MODEL FOR PERSONAL FINANCIAL PLANNING TOWARDS RETIREMENT

2020 ◽  
Vol 0 (0) ◽  
pp. 1-21
Author(s):  
Teresa C. Herrador-Alcaide ◽  
Montserrat Hernández-Solís ◽  
Gabriela Topa
Keyword(s):  
Financial Literacy ◽  
Financial Planning ◽  
Financial Management ◽  
Structural Equation ◽  
Financial Risk ◽  
Management Practices ◽  
Equation Model ◽  
Financial Resources ◽  
Explanatory Variables ◽  
Personal Financial Planning

One problem for sustainability of systems pensions is how people without specialized financial training could manage their resources and their actual personal intentions towards retirement. Research objective is to analyse the relationship among several factors that affect the behaviour towards retirement, the financial management practices and the financial resources, by carrying out a structural equation model (SEM) that was tested in Spanish workers sample in three phases. The influence of financial literacy, financial retirement objectives, optimism on retirement, tolerance to financial risk, and the commitment to financial planning at time 1, are analysed as explanatory variables of financial management practices at time 2. Financial resources for retirement at time 3 are explained by financial management practices. According to results, the model can predict the 36% of the variance of financial management practices and 53% of the variance of financial resources for retirement. Thus, the model can be used for checking of knowledge of the personal financial behaviour before retirement, what enables a better personal financial planning. It would be possible to apply a model based on self-assessment in order to implement a complementary financial planning that would allow to maintain the welfare during retirement.

scholarly journals Peningkatan Kemampuan Pengelolaan Keuangan Rumah Tangga pada Ibu-Ibu RPTRA Sungai Bambu Jakarta Utara

2020 ◽  
Vol 1 (1) ◽  
pp. 21-26
Author(s):  
Mary Ismowati ◽  
Muhammad As’ad ◽  
Rame Soekarsono ◽  
Nidaul Izzah ◽  
Didit Mulyadi ◽  
...  
Keyword(s):  
Everyday Life ◽  
Financial Management ◽  
Management Training ◽  
Financial Resources ◽  
Limited Time ◽  
Training Activity ◽  
Household Finances ◽  
Financial Difficulties ◽  
Inhibiting Factor ◽  
Personal Finances

Managing personal finances is a reality that must be faced by everyone in everyday life, where a person must be able to manage his personal finances and his household well in order to balance between income and expenses, to meet all the necessities of life and not get caught up in financial difficulties. Managing personal and household finances is not an easy thing to do because there are only difficulties faced by everyone, where one of the difficulties faced is the phenomenon of consumer behavior that is growing rapidly in the community. Likewise, the problem faced by housewives in Sungai Bambu Kelurahan, Tanjung Priok Sub-district, North Jakarta, so that a household financial management training activity was held as a solution to the problem.Some factors that support the implementation of this activity are the great interest and enthusiasm of the mothers as participants of the activity so that the activity takes place smoothly and in an orderly manner. While the inhibiting factor is the limited time of training. This activity can increase knowledge and understanding of RPTRA Sungai Bambu Village, Tanjung Priok Subdistrict, North Jakarta, increase knowledge about tips to deal with obstacles in managing household finances RPTRA, Sungai Bambu Village, Tanjung Bambu District, North Jakarta District, and increase knowledge and understanding of the RPTRA of Sungai Bambu Village, Tanjung Priok District, North Jakarta about the need for halal financial resources in financial managementConsidering the magnitude of the benefits of the activity, then it is necessary to hold a Financial Management training for every woman or RPTRA in DKI Jakarta as well as the continuity and monitoring of the program.

scholarly journals DOES FINANCIAL LITERACY AND FINANCIAL STRESS EFFECT THE FINANCIAL WELLNESS?

2019 ◽  
pp. 1-11 ◽  
Author(s):  
Nurazleena Ismail ◽  
Nur Damia’ Amiruddin Zaki
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Help Seeking ◽  
Financial Stress ◽  
Financial Education ◽  
Well Being ◽  
Stress Effect ◽  
Financial Wellness ◽  
Financial Condition ◽  
Seeking Behavior

Nowadays, people use financial wellness’s as terminology to understand the level of the individual’s financial condition. Previous researches show that although the persons have a lot of debts, they feel satisfied with their financial status. Conversely with those who are in good financial wellness with their wealth of life. Additionally, two elements have been discussed in relation to the income earner’s financial wellness which is economic well-being and financial well-being. Imbalance of financial wellness among low-medium income earners is due to reducing in employment opportunities, income instability and increase the number of family members. Therefore, personal financial management is important to ensure good or bad financial wellness among income earners. In this paper, financial literacy and financial stress are considered to determine the relationship of financial wellness. The result showed that both factors are significant with a strong positive relationship. It is important to describe the ability of income earners manage their money and apply the knowledge to make an effective financial decision. Thus, the organization should imply the financial education programs to their employees that can enhance financial literacy and reduce financial stress. Further research should be explored the other determinant factor such as financial self-efficacy and financial help-seeking behavior. These factors will improve the low-medium income earners’ financial wellness by seeking financial help as well as reducing financial stress.

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 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 Financial Leverage of Faculty of Higher Educational Institutions in the Province of Capiz

2020 ◽  
Vol 3 (2) ◽  
pp. 13-14
Author(s):  
Joesan D. Borres ◽  
Joseph G. Guevarra
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Well Being ◽  
Educational Institutions ◽  
Financial Leverage ◽  
Higher Educational Institutions ◽  
Insufficient Amount ◽  
Higher Educational ◽  
The Difference ◽  
The Relationship

Faculty-entrepreneurs started their business using savings and personal money.  Over time, with an insufficient amount of capital and to maximize business operation, faculty-entrepreneurs incur debt. Findings on financial literacy, financial capability, financial management, and faculty's financial well-being were very low and negative. So far, there is a dearth of studies that have been conducted on financial leverage, particularly on the faculty who are engaged in business. Financial leverage refers to the source of business capital used in the form of equity and debt. The paper explored the level of financial leverage in terms of equity and debt of faculty of higher educational institutions when they are taken as a whole and grouped according to age, sex, and gross monthly business income. Likewise, it determined the difference in the level of financial leverage in terms of equity and debt when teachers are grouped according to the aforementioned demographics. Also, it explored the relationship between equity and debt.  Likewise, it determined the result of financial leverage in their investment practices.

scholarly journals Regional Features of the Financial Literacy the Population of the Sverdlovsk Region

2021 ◽  
Vol 295 ◽  
pp. 01013
Author(s):  
Elena Razumovskaia ◽  
Denis Razumovskiy ◽  
Elena Ovsyannikova
Keyword(s):  
Central Bank ◽  
Russian Federation ◽  
Financial Literacy ◽  
Subjective Assessment ◽  
Optimality Criteria ◽  
Financial Resources ◽  
Household Spending ◽  
Regional Features ◽  
Initial Hypothesis ◽  
The Relationship

The presented research is devoted to analysis of the principles and optimality criteria for the structure of household financial resources, formed on the basis of surveys of a sample of 5,842 respondents from the Sverdlovsk region based on the author’s methodology for assessing the level of financial literacy and the structure of citizens expenses. The initial hypothesis about the influence of the level of financial literacy of the population on the structure of household spending has been verified. Examples of author questionnaires are presented, developed taking into account the methodological support of the Central Bank of the Russian Federation and the NAFR Analytical Centre. The conclusion is substantiated that more financially literate people are inclined to plan income and expenses and are able to evaluate the structure of their expenses from the position of optimality. The study is supplemented by an analysis of an array of statistical information on indicators of the financial situation of the population of the cities of the Sverdlovsk region. The purpose of the study is to verify the relationship between the level of financial literacy of the population of the Sverdlovsk region and the structure of household spending based on a subjective assessment of optimality by respondents. General methodology of this study is a sociological survey, which adapted by the authors from the methods of the Central Bank of Russian Federation and OECD countries for the conditions of the Sverdlovsk region. The scientific message is interfaced with the model of J. Nash. Main results of this research is: 1) the hypothesis about the influence of the level of financial literacy of the population on the optimality of the structure of household spending is substantiated; 2) author principles and optimality criteria for the structure of household financial resources based on cost structure have been developed.

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.

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