scholarly journals CHALLENGES OF PERSONAL FINANCE MANAGEMENT UNDER INSTABLE ECONOMIC

2010 ◽  
Vol 2 (2) ◽  
pp. 104-111 ◽  
Author(s):  
Kamilė Taujanskaitė ◽  
Daiva Jurevičienė
Keyword(s):  
Financial Markets ◽  
Retrospective Analysis ◽  
Personal Finance ◽  
Financial Behavior ◽  
Economic Downturn ◽  
Economic Cycle ◽  
Finance Management ◽  
Comparison Of Results ◽  
Research Findings ◽  
Investment Option

This article deals with personal finance and personal finance management problems as well as with the necessity of systematic attitude during the economic downturn. Taking into account the downfall of the financial markets, the motivation of individuals’ financial behavior is investigated. The retrospective analysis of the most popular investing instruments and comparison of results is presented in the paper, followed by the suggestion of an alternative investment option, covering the profitability and safety ratio that is independent to the economic cycle. Research findings regarding theoretical and practical personal finance management are followed by conclusions.

scholarly journals How Behavioral Finance during Pandemic COVID-19?

2020 ◽  
Vol 2 (2) ◽  
pp. 131-137
Author(s):  
Asri Solihat ◽  
Nugraha Nugraha
Keyword(s):  
Literature Review ◽  
Financial Markets ◽  
Financial Institutions ◽  
Behavioral Finance ◽  
Urban Areas ◽  
Financial Behavior ◽  
Global Pandemic ◽  
Research Findings ◽  
Financial Transactions

The global pandemic of COVID-19 has created dramatic and unprecedented challenges for individuals, the economy, financial markets, financial institutions and governments. The purpose of this study was to determine how much change in financial behavior during the COVID-19 pandemic. This study uses a literature review method by comparing several previous research findings that are relevant to the COVID-19 pandemic problem. The results of this study reveal changes in financial behavior during the COVID-19 pandemic, especially in urban areas that are in the red zone and many financial transactions.

Evaluating the Evolution of the Personal Financial Planning Industry: Mutualism, Commensalism, or Parasitism?

2021 ◽  
Vol 12 (1) ◽  
pp. 42-42
Author(s):  
Bryan Teoh Phern Chern
Keyword(s):  
Social Media ◽  
Financial Literacy ◽  
Financial Planning ◽  
Business Models ◽  
Service Providers ◽  
Personal Finance ◽  
Easy Access ◽  
Finance Management ◽  
Financial Planners ◽  
Personal Financial Planning

The financial planning and advice industry has been experiencing healthy growth for the past five years and is expected to accelerate this growth following the Covid-19 pandemic (IBISWorld, 2021). The pandemic has led to higher equity yields and appreciating asset value, directly increasing the total value of assets under management (AUM) held by financial planners and advisors. The industry in the US alone has surpassed $52.9 billion in 2021. As the economy is expected to improve, this figure is expected to follow suit. Not included in these figures are the explosion of online personal finance bloggers and influencers. Some YouTube and TikTok videos have raked in billions of views regarding personal finance (Smith, 2021). Many of these online contents have benefitted viewers and prompted them to start making good decisions regarding their personal wealth, spreading financial literacy to the masses. However, poor financial advice may be spread out as easily to viewers. The Wall Street Journal has reported on this issue back in 2005 where blogs and magazines have been found to give both good and bad advice on budgeting, saving, and overall personal finance management (Cullen, 2005). Whatever the net effect of this phenomenon, the easy access through social media has amplified it. This article briefly journeys through the evolution of personal finance management and personal financial planning, including the new trends this industry is moving towards. Subsequently, this article will look into the risk and rewards of the current personal financial planning and advice industry, including certified financial planners and uncertified personnel (social media influencers, financial gurus), as to whether consumers are benefitting as a whole, or otherwise. A disclaimer to this research is that the findings and opinions towards the industry do not encompass all the service providers in the business as there are many other influencing factors such as business models, individual agenda, and unique circumstances of each provider and consumer. Keywords: Conflict of interest; financial planning; financial experts; Influencers; Personal finance

scholarly journals Financial Homo Ignorans: measuring vulnerability to behavioral biases in household finance

2020 ◽  
Author(s):  
Kinga Barrafrem ◽  
Daniel Västfjäll ◽  
Gustav Tinghög
Keyword(s):  
Financial Literacy ◽  
Household Finance ◽  
Well Being ◽  
Financial Behavior ◽  
Policy Makers ◽  
Total N ◽  
Behavioral Biases ◽  
Finance Management ◽  
Item Questionnaire ◽  
Application Potential

Understanding systematic differences in sound financial behavior between individuals is a key area for public policy and the possibility to tailor interventions to promote financial well-being. In this paper we develop and validate a concise 12 item questionnaire measuring individual’s vulnerability to behavioral biases in household finance – the Financial Homo Ignorans (FHI) Scale. We conduct two studies with general population samples (total N=2508) and show that the FHI scale can predict behavior in financial tasks such as consumer purchases, loan choices, or investment decisions, also when controlling for demographics, financial literacy and other related constructs. In addition, we show that consumer heterogeneity as assessed by the FHI scale explains the variation in household finance management and financial well-being. The FHI scale has application potential as it can be used by researchers, policy makers, and financial institutions to study the psychological underpinnings of financial behavior and design interventions by targeting individuals who are particularly vulnerable.

scholarly journals Personal Finance Management for New Oncologists: Part 2

2009 ◽  
Vol 5 (2) ◽  
pp. 92-95
Keyword(s):  
Financial Planning ◽  
Personal Finance ◽  
Basic Principles ◽  
Finance Management ◽  
Economic Climate

Part two in this two-part series on financial planning for new oncologists looks at the basic principles of sound investing in any economic climate.

Financial Behavior

2017 ◽  
Keyword(s):  
Financial Markets ◽  
Behavioral Finance ◽  
Financial Services ◽  
Well Being ◽  
Decision Makers ◽  
Financial Behavior ◽  
Empirical Literature ◽  
Rapid Pace ◽  
Financial Decision ◽  
User Friendly

This book provides a synthesis of the theoretical and empirical literature on the financial behavior of major stakeholders, financial services, investment products, and financial markets. It offers a different way of looking at financial and emotional well-being and the processing of beliefs, emotions, and behaviors related to money than provided by traditional academic finance. The book provides important insights into how cognitive and emotional biases influence various financial decision makers, services, products, and markets. Because noted scholars and practitioners write on their areas of expertise, readers can gain an in-depth understanding of multiple topic from experts around the world. In today’s financial setting, the discipline of behavioral finance continues to evolve at a rapid pace. This book familiarizes readers with not only the core topics and issues but also the latest trends, cutting-edge research developments, and real-world situations. Additionally, discussion of cognitive and emotional issues is supported with research in the field. Overall, the book covers a critical topic, from the theoretical to the practical, while offering a useful balance of detailed and user-friendly discussions. Those interested in a broad survey will benefit, as will those seeking in-depth coverage of biases and other aspect of behavioral finance. As the seventh book in the Financial Markets and Investment Series, Financial Behavior: Players, Services, Products, and Markets offers a fresh look at this fascinating area of behavioral finance.

PENERAPAN AKUNTANSI DAN MANAJEMEN KEUANGAN PADA PENGATURAN KEUANGAN PRIBADI

2015 ◽  
Vol 1 (2) ◽  
pp. 239
Author(s):  
Kusumadyahdewi Kusumadyahdewi
Keyword(s):  
Personal Finance ◽  
Finance Management ◽  
Basic Need

<p>Manage of personal finance is very important, because many products and services offered in the market. We must more carefully to spend our money not fulfill what we want but what we need, Management for personal finance can adapted from accounting and Finance Management for corporation with adjustment. We must record income and outcome of our money as responsibility to our self and controlling our spiritual quotient, and then we can measure our achievement. Residual of our income can saved for the sudden need, or invest in many thing as our basic need, for example land and building or in portfolio, for future. This article discuss about how we apply accounting and finance management to personal finance management and also the application for personal finance in our gadget.</p><p>Keywords: Accounting, Finance Management, Personal Finance Management</p>

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