Financial Literacy:  Examining The Knowledge Transfer Of Personal Finance From High School To College To Adulthood

Yates, Dan; Ward, Chris

doi:10.19030/ajbe.v4i1.1274

Cited by 14 publications

(14 citation statements)

References 5 publications

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“…Moreover, several studies have also shown that a weakness of financial literacy had failed the economics' decision making because lack of adequate information [1]. Lack of financial literacy in the community is a systematic problem and has macroeconomic consequences clearly, thus it will influence on the person's financial behaviour [2][3] [4].…”

Section: Introductionmentioning

confidence: 99%

Developing Students' Financial Literacy and Financial Behaviour by Students' Emotional Quotient

Fauziyah¹,

Ruhayati²

2016

Proceedings of the 2016 Global Conference on Business, Management and Entrepreneurship

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Indonesian financial level exists at the middle level to demand efforts to improve financial literacy and financial behaviour. This study aims to determine the effect of emotional capability to financial literacy and its implications for financial behaviour. This research is a descriptive study using multiple regression analysis. The study was conducted at Senior High School in two places with different characteristics as a moderating variable. This study used 120 respondents for each school and using simple random sampling. The results have shown that financial literacy is not enough to make financial decisions in terms of managing personal finances. It takes emotional quotient to make financial decisions which can eventually build the financial behaviour of students in terms of managing finances for consumption and saving habits. Based on the results of different test, the Senior High School which is located in the central of areas the craft (Tasikmalaya) have literacy and financial behaviour is better than the Senior High School of the tourist area (Cianjur).

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Section: Introductionmentioning

confidence: 99%

Developing Students' Financial Literacy and Financial Behaviour by Students' Emotional Quotient

Fauziyah¹,

Ruhayati²

2016

Proceedings of the 2016 Global Conference on Business, Management and Entrepreneurship

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“…A review of the literature on financial literacy by Huston () found that almost half of the studies used the terms financial knowledge and financial literacy interchangeably. Financial literacy, however, includes not only knowledge but also the enactment of that knowledge in making prudent financial decisions (Huston ; Yates and Ward ). Furthermore, other influences such as family, self‐control, and so on, can affect financial behavior (Huston ).…”

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confidence: 99%

An Empowerment Model of Youth Financial Behavior

Angulo-Ruiz¹,

Pergelova²

2015

Journal of Consumer Affairs

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The current study examines the antecedents of youth financial behavior. By grounding the conceptual framework on empowerment theory, we argue that in addition to financial knowledge other elements such as intrapersonal (e.g., locus of control and motivation) and interactional elements (e.g., parental financial teaching and behavior) also impact youth financial behavior. To test the hypotheses, structural equation modeling is used on a data set of youth from Western Canada. The results indicate that external locus of control has the highest total effect on youth financial behavior followed by parental influence and motivation. Findings are validated by performing several robustness checks and multigroup analysis. Organizations trying to influence youth financial behavior should broaden the understanding of empowerment to include personal worldview, motivation, as well as social surroundings.

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“…Garman and Fourge (2011) defined financial literacy as one's knowledge of facts, concepts, principles, and technological tools that are fundamental to being smart about money. Yates and Ward (2011) emphasize that financial literacy is about enabling people to make informed confident decisions regarding all aspects of their budgeting, spending and saving, the use of financial products and services. Financial literacy should designate an individual's ability to comprehend financial information and therefore use it appropriately and confidently (Huston, 2010) and must be viewed as a difficult concept made up of a mixture of knowledge, attitude, and behavior (Atkinson et al 2016).…”

Section: Literature Reviewmentioning

confidence: 99%

An Analysis of Personal Financial Literacy Among Adults in Vhembe District, a Rural Municipality in South Africa

Ndou¹,

Ngwenya²

2021

EJEF

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Consumers in rural and low-income areas are the most financially vulnerable and are facing challenges with their finances and depend mostly on unsecured loans to finance their daily expenses. This has been exacerbated by global financial crises, which left many consumers in financial strains. The purpose of this paper is to measure the level of financial literacy focusing on the areas of day-to-day money management, financial planning, choosing appropriate financial services and products, and financial knowledge and understanding. The quantitative research approach was used to collect primary data among adults in Vhembe District Municipality (VDM), a rural and low-income municipality in South Africa. Primary data were analyzed through descriptive statistics. The results indicate that the level of financial literacy among adults in VDM is low at 38.73%. The low levels of financial literacy have serious consequences for an adult’s personal financial management skills and lead to their inability to make correct financial decisions. It is apparent that an individual’s level of financial literacy has become important in how individuals manage their finances in today’s complicated financial world. The paper concludes by suggesting interventions that could help adults to improve their level of financial literacy, manage and sustain their financial well-being.

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Financial Literacy: Examining The Knowledge Transfer Of Personal Finance From High School To College To Adulthood

Abstract: ABSTRACT

Cited by 14 publications

References 5 publications

Developing Students' Financial Literacy and Financial Behaviour by Students' Emotional Quotient

Developing Students' Financial Literacy and Financial Behaviour by Students' Emotional Quotient

An Empowerment Model of Youth Financial Behavior

An Analysis of Personal Financial Literacy Among Adults in Vhembe District, a Rural Municipality in South Africa

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