scholarly journals Improving financial literacy of a selected group in favour of eliminating crime

VUZF Review ◽  
2021 ◽  
Vol 6 (3) ◽  
pp. 20-29
Author(s):  
Jozefína Drotárová ◽  
Andzej Misiuk ◽  
Zuzana Gedeonová
Keyword(s):  
Interest Rate ◽  
Elementary Education ◽  
Financial Literacy ◽  
Financial Education ◽  
Research Field ◽  
Problem Analysis ◽  
Analysis Method ◽  
High Interest Rate ◽  
Survey Results ◽  
Original Survey

The aim of this paper is to point out the connections and the relation between financial literacy, poverty and criminal activities in the context of marginalized Roma communities in Slovakia. The target group was selected on the basis of the negative statistics as presented below. Poverty is one of the issues contributing not only to antisocial behavior of Roma communities but also leading them to criminal activities. In the case of the Slovak Roma, 87% of them live in poverty. The marginalized Roma communities are often linked to the so-called petty crime, which is represented by thefts in stores, in groceries, in public means of transport, in the streets etc. The research carried out using the problem analysis method was aimed at the initial structuring of the research field and theoretical and conceptual preparation of tools for detailed exploration. The study also contains an analysis of the financial literacy of the marginalized Roma communities in Slovakia. The survey results of the analysis indicate that the community is lagging behind in the area of the financial literacy and education itself. Only a small percentage of the Roma have completed education that is higher than elementary education. There are about 75% of unemployed Roma that receive material need benefits. Since they are unemployed, they cannot take out a loan in a bank. Therefore, another form of crime is the so-called usury, i.e. loaning money directly in a community and with an extremely high interest rate. There are two areas in the fight against crime caused by low financial literacy that may be regarded as key areas, namely decreasing the level of poverty of the marginalized Roma communities and financial education. The article problematizes the hitherto unknown contexts of connections and the relation between financial literacy, poverty and criminal activities in the context of marginalized Roma communities in Slovakia and original survey focused on analysis of the financial literacy of the marginalized Roma communities in Slovakia.

scholarly journals Personal Financial Literacy among University Students studying Engineering

2020 ◽  
Vol 8 (8) ◽  
pp. 669-692
Author(s):  
Sirli Mändmaa
Keyword(s):  
University Students ◽  
Financial Literacy ◽  
Academic Discipline ◽  
Financial Education ◽  
Future Research ◽  
Financial Responsibility ◽  
Survey Results ◽  
The Individual ◽  
The Impact ◽  
A Current

Nowadays financial literacy is essential as in a society much of the financial responsibility has shifted from governments to the individual. The findings of earlier studies show that university students are not knowledgeable about personal finance and their financial skills needs improvement. This study analyzed the survey results of 536 university students to assess the financial literacy, the impact of educational and demo-graphical characteristics to the participants' financial literacy, and the students' financial opinions and choices. Results of regression analyze showed that statistically significant impact to the financial literacy had factors: academic discipline, level of education, gender, nationality, age and the choices to have a current account, a debit card, and investment services. Students studied in the Faculty of Civil Engineering compared to others, had higher knowledge in finance, especially female students. These results of study give the direction for future research and enable to enhance financial education. 

scholarly journals A MATEMÁTICA FINANCEIRA PARA ALÉM DA ESCOLA

2020 ◽  
Vol 17 (1) ◽  
pp. 155-166
Author(s):  
Gisely Fernandes e Silva ◽  
Keidna Cristiane Oliveira Souza ◽  
Eudes Antonio Costa
Keyword(s):  
Elementary Education ◽  
Financial Literacy ◽  
Financial System ◽  
Financial Education ◽  
Financial Mathematics ◽  
Research Experience

This paper discusses the function of Financial Education and the importance of such a subject to be presented and developed elementary education. It aims to attain a study about the approach of Financial Mathematics and Financial Education, moreover explaining the relevance of contents, which ones prepare the students to be organized people, and thus, dealing with concrete situations, in the context of the new practices rise. In which the mastery of financial matters goes crucial. Methodologically, beyond the bibliographic and documentary research, experience reports are used to contextualize the reflection on Financial Education. The results indicate that Financial Mathematics such as a discipline or a subject school can be a step for the citizen's financial literacy. Financial Education is linked to the awareness development about the money rational using, in order to avoid people of being exploited by the financial system.

scholarly journals FINANCIAL LITERACY : A COMPARISON BETWEEN THE YOUTH OF INDIA AND USA

2020 ◽  
Vol 8 (10) ◽  
pp. 734-765
Author(s):  
Dhruv Vij ◽  
Keyword(s):  
Young Adults ◽  
Financial Literacy ◽  
Indian Population ◽  
Financial Education ◽  
The United States ◽  
Literacy Programs ◽  
New Delhi ◽  
Inflation Rates ◽  
Survey Results ◽  
Capitalist World

Financial literacy is a critical aspect of our lives. When taught early, it provides life skills for young adults to make use of now as well as in the future. It can help individuals go from surviving to thriving. Financial education isnt taught in schools and colleges but is very essential to live in these times. A person not only learns how to survive in a capitalist world, but also how to grow and preserve their money. This project focused on what young adults currently know about money management and to provide recommendations to increase their financial acumen. The research also compares the responses of several questions from students in India (New Delhi) and students in the United States (Massachusetts).The goals of this project were three -fold: 1. Conducted research on the literacy models used to assess knowledge and skills regarding financial literacy in general 2. Created a survey instrument based on the research and administered the survey to participants 3. Created a set of recommendations and observations based on the survey results in the form of an infographic.To accomplish this goal a simple questionnaire, created from a composite of several internationally known literacy programs, was administered to individuals of ages 18-22. A series of 15 recommendations resulted from the analysis of the survey results and were disseminated through the use of an infographic. One of the results was that only 50% of the indian population knew in detail about the concept of interest and inflation rates.

Undergraduate Elementary Education Majors' Knowledge of Augmentative and Alternative Communication

2010 ◽  
Vol 19 (4) ◽  
pp. 100-107 ◽  
Author(s):  
Lindsay Kessel ◽  
Linda Sue Sickman
Keyword(s):  
Elementary Education ◽  
General Education ◽  
Augmentative And Alternative Communication ◽  
General Education Teachers ◽  
Classroom Teachers ◽  
Education Majors ◽  
Alternative Communication ◽  
Elementary Education Majors ◽  
Education Major ◽  
Survey Results

Abstract This study describes survey results measuring the knowledge undergraduate elementary education major students have about augmentative and alternative communication. Those students with experience and course knowledge surrounding AAC were more knowledgeable. Implications for speech-language pathologists (SLPs) will be addressed, including how SLPs can provide classroom teachers with classroom support for general education teachers.

Cyber crimes in the banking sector: Case study of Vietnam

2020 ◽  
Vol 6 (05) ◽  
Author(s):  
LE Thanh Tam ◽  
Nguyen Minh Chau ◽  
Pham Ngoc Mai ◽  
Ngo Ha Phuong ◽  
Vu Khanh Huyen Tran
Keyword(s):  
Financial Literacy ◽  
Commercial Banks ◽  
Banking Sector ◽  
Secondary Data ◽  
Legal Framework ◽  
Economic Sectors ◽  
Technological Revolution ◽  
Survey Results ◽  
Cyber Crimes

The technological revolution 4.0 brings great opportunities, but also cybercrimes to economic sectors, especially to banks. Using secondary data and survey results of 305 bank clients, the main findings of this paper are: (i) there are several types of cybercrimes in the banking sector; (ii) Vietnam is one of the top countries worldwide having hackers and being attacked by hackers, especially the banking sector. Three most common attacks are skimming, hacking and phishing. Number of cybercrime attacks in Vietnam are increasing rapidly over years; (iii) Vietnamese customers are very vulnerable to cybercrime in banking, as more than 58% seem to hear about cybercrimes, and how banks provide services to let them know about their transactions. However, more than 50% do not have any deep knowledge or any measures for preventing cybercrime; (iii) Customers believe in banks, but do not think that banks can deal with cybercrime issues well. They still feel traditional transactions are more secure than e-transactions; (iv) the reasons for high cybercrimes come from commercial banks (low management and human capacity), supporting environment (inadequate), legal framework (not yet strong and strict enough on cybercrimes), and clients (low level of financial literacy). Therefore, several solutions should be carried out, from all stakeholders, for improving the cybersecurity in Vietnamese banks. 

Financial literacy of the population of the Tyva Republic

2020 ◽  
Vol 18 (4) ◽  
pp. 652-661
Author(s):  
Sh.Ch. Soyan ◽  
V.K. Sevek ◽  
R.S. Taibyl
Keyword(s):  
Quality Of Life ◽  
Economic Development ◽  
Financial Literacy ◽  
Socio Economic Development ◽  
Survey Results ◽  
Questionnaire Method ◽  
Tyva Republic

Subject. This article deals with the issues of determining the level of financial literacy of the population of the Tyva Republic. Objectives. The article aims to analyze the level of financial literacy of the population of the Tyva Republic and identify factors that cause the financial illiteracy rates. Methods. For the study, we used a questionnaire method within a sociological survey. Results. The article presents results of the sociological survey of respondents and highlights the main reasons for the financial illiteracy of the majority of the population of the Tyva Republic. Conclusions. The results obtained can be taken into account when developing the area's socio-economic development programmes improving the quality of life of the population.

scholarly journals An Efficient Time-Variant Reliability Analysis Method with Mixed Uncertainties

Algorithms ◽  
2021 ◽  
Vol 14 (8) ◽  
pp. 229
Author(s):  
Fangyi Li ◽  
Yufei Yan ◽  
Jianhua Rong ◽  
Houyao Zhu
Keyword(s):  
Reliability Analysis ◽  
Limit State ◽  
Random Variables ◽  
Equivalent Model ◽  
Independent Random Variables ◽  
Problem Analysis ◽  
Analysis Method ◽  
Calculation Algorithm ◽  
Reliability Problem ◽  
Interval Variables

In practical engineering, due to the lack of information, it is impossible to accurately determine the distribution of all variables. Therefore, time-variant reliability problems with both random and interval variables may be encountered. However, this kind of problem usually involves a complex multilevel nested optimization problem, which leads to a substantial computational burden, and it is difficult to meet the requirements of complex engineering problem analysis. This study proposes a decoupling strategy to efficiently analyze the time-variant reliability based on the mixed uncertainty model. The interval variables are treated with independent random variables that are uniformly distributed in their respective intervals. Then the time-variant reliability-equivalent model, containing only random variables, is established, to avoid multi-layer nesting optimization. The stochastic process is first discretized to obtain several static limit state functions at different times. The time-variant reliability problem is changed into the conventional time-invariant system reliability problem. First order reliability analysis method (FORM) is used to analyze the reliability of each time. Thus, an efficient and robust convergence hybrid time-variant reliability calculation algorithm is proposed based on the equivalent model. Finally, numerical examples shows the effectiveness of the proposed method.

Financial literacy and its determinants: the case of rural farm households in Ghana

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Martinson Ankrah Twumasi ◽  
Yuansheng Jiang ◽  
Salina Adhikari ◽  
Caven Adu Gyamfi ◽  
Isaac Asare
Keyword(s):  
Developing Countries ◽  
Financial Literacy ◽  
Financial Education ◽  
Policy Implications ◽  
Farm Households ◽  
Community Group ◽  
Data Set ◽  
Content Type ◽  
Wide Range ◽  
Rural Dwellers

PurposeThis paper aims to examine the determinants of rural dwellers financial literacy in Ghana.Design/methodology/approachA cross-sectional primary data set was used to estimate the factors influencing rural farm households' financial literacy using the IV-Tobit model.FindingsThe findings reveal that most rural residents are financially illiterate. The econometrics model results depicted that respondents' socioeconomic and demographic characteristics such as gender, income, age and education significantly affect financial literacy. Again, respondents who are risk seekers and listen or watch education programs are more likely to be financially literate.Research limitations/implicationsThe paper examined the determinants of rural dwellers financial literacy in four regions in Ghana. Future research should consider all or many regions for an informed generalization of findings.Practical implicationsThis paper provides evidence that rural dwellers are financially illiterate and it would require the policymakers or non-governmental organizations (NGOs) to establish a village or community group that comprises a wide range of bankers and government officials to help rural dwellers acquire some financial skills. Also, the positive relationship between media (whether respondent watches or listens to educational programs) and financial literacy implies that policymakers should focus on improving individuals' financial knowledge through training programs and utilize the media as a channel to propagate financial education to the public.Originality/valueAlthough previous studies have examined the determinants of financial literacy, little is known in developing countries and, in particular, rural communities. The authors fill this gap by contributing to the scanty existing literature in developing countries in several ways. First, this is the first study to examine the financial literacy level of rural dwellers in Ghana. Second, to not undermine the credibility of the estimation results, this study addresses the potential endogeneity issue, which other researchers have not adequately recognized. Finally, the study expands the scant literature on the subject and provides critical policy implications that will help policymakers formulate financial market policies that will contribute to rural dwellers financial literacy enhancement.

How Do Homeowners Choose Between Fixed and Adjustable Rate Mortgages?

2016 ◽  
Vol 06 (04) ◽  
pp. 1650013 ◽  
Author(s):  
Yevgeny Mugerman ◽  
Moran Ofir ◽  
Zvi Wiener
Keyword(s):  
Interest Rate ◽  
Housing Prices ◽  
Optimal Choice ◽  
Housing Finance ◽  
Short Term ◽  
Fixed Rate ◽  
High Interest Rate ◽  
Theoretical Literature ◽  
Rate Environment ◽  
Adjustable Rate

Housing is the most important asset in the portfolio of most households. Understanding the households’ decision on housing finance has important implications from a policy perspective, due to the effects it may have on the housing prices, on the housing market stability and on household welfare. The theoretical literature on housing finance focused on figuring out the optimal choice between fixed rate mortgages (FRMs) and adjustable rate mortgages (ARMs). We argue that the standard economic criteria are sometimes inadequate to explain household’s choices, which may be motivated by psychological factors. In other words, we claim that household’s choice depends only partially on the findings of the theoretical literature. We examine the effect of changes in the short-term market interest rate on the households’ choice between FRMs and ARMs. We test this effect using a unique data provided to us by the Bank of Israel, which contains detailed information on the household’s decision between FRM and ARM contracts in Israel in the past decade. The results of our analysis demonstrate a significant association between FRM preference and short-term interest rate reduction. Moreover, we find that the change in the short-term interest rate is more salient to the borrowers in periods of a high interest rate environment. We attribute these findings to Tversky and Kahneman (1974) availability and representativeness heuristics.

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