scholarly journals Impact of Economic and Financial Literacy on the Spending Behaviour of Selected Public Servants in Lagos State Nigeria

2021 ◽  
Vol 18 ◽  
pp. 95-105
Author(s):  
Alexander Ehimare Omakhanlen ◽  
Paulinus Ikechukwu Iyika ◽  
Peace Onyedikachi Chimezie ◽  
Olusegun Osho
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Financial Inclusion ◽  
Descriptive Statistics ◽  
Portfolio Diversification ◽  
Retirement Savings ◽  
Public Servants ◽  
Public Sector Organizations ◽  
Literacy Level ◽  
Structured Questionnaire

:Low level of financial literacy among the young workforce has remained a lingering problem,especially in developing countries. This has been pointed out as one of the causes of poor personal financialmanagement practice. This problem has hampered the efforts of various governments and institutions inthis region geared towards financial inclusion and the overall economic wellbeing of the citizens. Moststudies in this area focused on the financial literacy level of people rather than the effect on their behaviour.This study is an attempt examine the effect of financial literacy level on spending behaviour of 30 youngadults from public sector organizations. The study employed the standard questions for assessing theknowledge level of respondents. The questions test their understanding of simple and compoundinterest,inflation and portfolio diversification. For the spending behaviour, thePlanned Behaviour Theory(PBT) proposed by Icek Ajzen (1985) as a theoretical framework for measuring spending behaviour usingthe respondents preparation of budget and personal pre-retirement savings account as proxies. Data wascollected using a structured questionnaire . Descriptive statistics and multiple regression was used toanalyze thedata. The result showed that there is a positive correlation between the level of financial literacyand the spending behaviour of therespondents. The less the knowledge of financial management the peoplehave, the higher the risk of poor spendingbehaviour. The conclusion was drawn to say that more work isneeded to equip the youth especially on the art of financial management.

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.

THE STRATEGY TO ENHANCE THE SHARIAH FINANCIAL LITERACY AND INCLUSION IN INDONESIA (Case Study at Financial Services Authority Office in The City of Malang)

2017 ◽  
Vol 1 (1) ◽  
pp. 47
Author(s):  
Ma’rufa Khotiawan ◽  
Muhammad Luthfiansyah
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Financial Management ◽  
Financial Inclusion ◽  
National Strategy ◽  
Research Needs ◽  
Know How ◽  
The Government ◽  
The City

<p>The<strong> </strong>results of the survey of literacy and Financial Inclusion Shari'ah in Indonesia 2016 each show numbers 8.11 %  and 11.06 %. Whereas the inhabitants of the religion of Islam in Indonesia more than 85%. With this then needs to be formulated strategies that can increase the level of literacy and financial inclusion shari'ah in Indonesia. The importance of literacy improvement and Financial Inclusion Shari'ah to improve the behavior of the community in financial management and to improve the welfare of them. So that priorities are intended to know how the strategy applied to increasing literacy and Financial Inclusion Shari'ah. This research uses qualitative research method with the approach of the case study. The results of this research are some government policy that is contained in the form of National Strategy for Financial Literacy Indonesia (SNLKI) to improve financial literacy Shari'ah and inclusive Financial National Strategy (SNKI) to improve financial inclusion. But the next research needs to examined and monitored about various programs to increase shari'a literacy and financial inclusion is doing by the government.</p><strong>Keywords: </strong>Sharia Financial Literacy, Sharia Financial Inclusion, the strategy.

scholarly journals PENGARUH LITERASI KEUANGAN TERHADAP PERILAKU KEUANGAN MAHASISWA

2021 ◽  
pp. 127
Author(s):  
Wayan Tari Indra Putri ◽  
Kadek Nita Sumiari
Keyword(s):  
Regression Analysis ◽  
Financial Literacy ◽  
Financial Management ◽  
Linear Regression Analysis ◽  
Financial Inclusion ◽  
Financial Behavior ◽  
Test Results ◽  
Simple Linear Regression ◽  
Literacy Knowledge

Having knowledge of financial literacy is a must in order to have a prosperous life. Currently the OJK is working to improve financial inclusion and literacy, especially among students. This step is a form of effort to increase the role of students in the Indonesian economy. As the next generation, a student must have knowledge related to personal financial management. This knowledge will be very useful for students to manage their finances in the future. Four diploma students majoring in Accounting at the Bali State Polytechnic have obtained courses related to finance and investment so that they should have a good level of financial literacy knowledge. The purpose of this research is to examine the effect of financial literacy on student financial behavior. Respondents in this study amounted to 95 people. The data in this study were analyzed using simple linear regression analysis. The results of this study are that there is an influence between financial literacy variables on student financial behavior. The test results show that the better the knowledge or understanding of financial literacy possessed by students, the better the student's ability to implement good financial behavior.

scholarly journals PENGARUH TINGKAT LITERASI KEUANGAN PEMILIK USAHA TERHADAP PENGELOLAAN KEUANGAN. STUDI KASUS: UMKM DEPOK

2016 ◽  
Vol 3 (1) ◽  
Author(s):  
Birawani D. Anggraeni
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Financial Statements ◽  
Business Owners ◽  
Descriptive Statistics ◽  
Record Keeping ◽  
Financial Products ◽  
Study Materials ◽  
Financial Condition ◽  
Micro Level

Abstract. Financial literacy affects a person's way of thinking on the financial condition and influencestrategic decisions in terms of finances and better management for business owners. This study usessecondary data as study materials which will be given to the micro level that businesses with aturnover of up to 300M per year in which the segment in general do not have good financial recordsto then be used as financial statements. In a study using 12 samples of SMEs in the area of Depokrandomly selected. This study uses processed using descriptive statistics as well as the weighting atthe level of financial literacy.Results from this study indicate that the level of financial literacy of low business owners sothat the effect on the ability to manage finances. This is reflected in the financial results of theattitude of business owners where they merely record the receipt and expenditure of financialbusiness without being accompanied by supporting documents storage. Business owners so far havenot made the budget as a basis for evaluating the performance of their businesses. In addition theability of business owners to manage cash surplus and deficit shows the majority of using banks ornon-banks. They have not yet reached the stage of investing in financial products. Simple research isexpected to contribute to the field of accounting related to business continuity, especially in terms offinancial management business through increased financial literacy.Keywords:. financial literacy, financial management, record keeping, budget

scholarly journals Pendampingan Manajemen Keuangan Melalui Program Literasi Keuangan Kepada Komunitas Usaha Mikro Kecil dan Menengah (UMKM) yang Terjerat Rentenir di Kabupaten Nganjuk

2019 ◽  
Vol 3 (1) ◽  
pp. 113-126
Author(s):  
Ainna Amalia FN ◽  
Lilis Rahmawati
Keyword(s):  
Community Development ◽  
Financial Literacy ◽  
Financial Management ◽  
Financial Institution ◽  
Financial Inclusion ◽  
Business Community ◽  
Literacy Programs ◽  
Management Skills ◽  
Asset Based Community Development ◽  
Management Capabilities

The development of UMKM in the process does not always go smoothly, sometimes the business also has obstacles, including being entangled by moneylenders. Therefore, the Assistant Team of Al ‘Ula Islamic Financial Institution of STAI Miftahul Ula Nglawak partnered with the NU LKK Nganjuk and Cooperative-UMKM Office of Nganjuk provides capital assistance without interest for MSME community through literacy programs. By using the Asset-Based Community Development (ABCD) method, this study aims to provide financial management assistance for UMKM Community who were entangeled by moneylenders.  The results of the study indicate social change as follows: (1) awareness increases the productivity and work ethic; (2) the emergence of financial management skills through financial literacy; (3) financial literacy, which is the emergence of financial inclusion, financial passport, and financial access issues; (4) the emergence of efforts optimization to empower financial management capabilities; (5) able to make strategic planning to improve the level of the business community; (6) the emergence of new assistants;  (7) there is a partnership between the assistant team and stakeholders.

scholarly journals THE DEVELOPMENT OF A FINANCIAL LITERACY SYSTEM IN RUSSIA

2018 ◽  
Vol 6 ◽  
pp. 314-318
Author(s):  
Svetlana A. Litvinova
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Literacy Development ◽  
Financial Inclusion ◽  
Research Findings ◽  
Literacy Level ◽  
The Government

The article touches upon the issues of financial literacy development in Russia. The author considers financial literacy as a set of procedures that build up the system of financial literacy institution development including financial inclusion, an increase in financial literacy and a strengthening of the protection of consumers’ rights in regard to financial services. The author presents research findings that indicate a poor financial literacy level in Russia. The key conclusion reflects the goal of the paper: the development of the financial literacy system depends on the demand for innovative financial services and the measures taken by the government to develop the financial literacy system.

Islamic Financial Literacy among Students Attending Faculty of Islamic Economics and Business

2020 ◽  
Vol 3 (2) ◽  
Author(s):  
Khaira
Keyword(s):  
Financial Literacy ◽  
Descriptive Statistics ◽  
P Value ◽  
Factors Affecting ◽  
Literacy Level ◽  
One Way Anova

This study aims to find out Islamic financial literacy level of students enrolling in the Faculty of Islamic Economics and Business IAIN Langsa as well as factors affecting it. A sample of 236 respondents was drawn from the population using Slovin formula and the questionnaires were distributed randomly. Descriptive statistics and one-way ANOVA were used to analyse the collected data. The results indicate that Islamic financial literacy level is 65.9% categorised as medium and among the factors affecting it is the age of respondent (p value 0.036 < α 0,05).

scholarly journals Financial Well-being of State and Local Government Retirees in North Carolina

2020 ◽  
pp. 184-206
Author(s):  
Robert L. Clark ◽  
Siyan Liu
Keyword(s):  
North Carolina ◽  
Financial Literacy ◽  
Financial Management ◽  
Well Being ◽  
Retirement Savings ◽  
Management Skills ◽  
Financial Decisions ◽  
Standards Of Living ◽  
State And Local Government ◽  
State And Local

This chapter analyzes how low- and moderate-income retirees utilize retirement savings, and how financially fragile they are, relying on survey data on public employees in North Carolina. We investigate whether retirees make systematic errors when they manage their assets so as to maintain their standards of living, and whether there are notable differences in financial management skills across subgroups. We also ask whether financial literacy is positively associated with lower rates of committing such errors and, and whether low-income households have lower levels of financial literacy leaving them likely to make poor financial decisions. We show that many retirees have no emergency cash, and one quarter maintain high-interest debt while leaving low-return funds in retirement saving plans. Suboptimal debt holding is associated with lower household income and lower financial literacy.

Financial literacy and portfolio diversification: an observation from the Tunisian stock market

2015 ◽  
Vol 33 (6) ◽  
pp. 808-822 ◽  
Author(s):  
Amari Mouna ◽  
Anis Jarboui
Keyword(s):  
Stock Market ◽  
Financial Literacy ◽  
Portfolio Diversification ◽  
Behavioral Differences ◽  
Content Type ◽  
Governmental Organizations ◽  
Literacy Level ◽  
Socio Economic Variables ◽  
The Individual ◽  
Training Programmes

Purpose – The purpose of this paper is to focus on the lack of financial literacy as one probable factor explaining the low levels of portfolio diversification. The authors consider distinct aspects of financial literacy and control for socioeconomic and behavioral differences among individual groups of investors. Design/methodology/approach – The proposed models in this paper use multivariate analysis to examine the relationship between financial literacy and portfolio diversification. Investors’ biases have been measured by means of a questionnaire comprising several items, including indicators of investors’ portfolio fragmentation, financial literacy and socio economic variables. The sample consists of 256 small investors actively trading on the Tunisian stock market. Findings – The results suggest that investors’ experience, financial literacy level, age, their use of the availability heuristic, familiarity bias and portfolio size, have a significant impact on the diversity of assets included their portfolios. Research limitations/implications – The main limitation of the empirical study is the small size of the sample. A larger sample would have given more reliable results and could have enabled a wider range of analyzes. Practical implications – The paper encourages investors to make their investments decisions based on their financial capability and experience levels and to avoid relying on their sentiment. Social implications – The paper encourages governmental organizations to establish training programmes aimed to develop the individual investor’s financial literacy level. Originality/value – The current study is the first of its kind focusing on the link between financial literacy and portfolio diversification, within the specific context of Tunisia.

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