Financial Literacy Level of Individuals and Its Relationships to Demographic Variables

Yıldırım, Murat; Bayram, Fatih; Oğuz, Ahmet; Günay, Gülay

doi:10.5901/mjss.2017.v8n3p19

Cited by 15 publications

(10 citation statements)

References 11 publications

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“…Yıldırım at al. [29] results statistical analyses displayed that from demographic variables only education and monthly income was important determinant, both of basic and advantage financial literacy.…”

Section: Literature Reviewmentioning

confidence: 91%

Demographic Analysis of Financial Literacy Level in Azerbaijan

Akbulaev¹,

Mammadova²

2021

ujaf

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Financial literacy is knowledge that every person needs in everyday life. Studying theory, mastering practical skills, developing financial thinking -all this will allow each of us to become financially successful. Research Objective: The aim of this study is to ascertain the financial literacy level of individuals living in Baku, The Republic of Azerbaijan. 280 people between the ages of 17-60 were involved in the survey, comprised of public and private sector employees, self-employed, retirees and students to attain this objective. Method: SPSS 25.0 for Windows package program was used to evaluate the research data. First of all, frequency was determined in the research. While testing the hypotheses of the research, t-test was applied for independent samples, and Mann Whitney U test was used for comparison of two nonparametric independent groups in the examination of the differences between more than two groups. In addition, the Chi-Square test was utilized to ascertain the degree and direction of the relationship between the relevant variables. Factor analysis has been practised to reduce the number of basic dimensions or group, the variables to facilitate understanding and interpretation of the relationships between multiple variables. In order to decide on the correctness of the answers given to the questions, reliability analysis was performed. Results: In consequence of research, the average level of financial literacy success is determined to be 75% in Baku. Nevertheless, financial literacy level of the participants differs according to demographic variables such as gender, age, marital status, income, profession, education level. Conclusıon: These results can be used to guide policy makers where to place more emphasis in terms of financial education for Azerbaijans.

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Section: Literature Reviewmentioning

confidence: 91%

Demographic Analysis of Financial Literacy Level in Azerbaijan

Akbulaev¹,

Mammadova²

2021

ujaf

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“…;Clark et al (2017);Danes and Hira (1987);Hilgert et al (2003);Hung et al (2009);Knoll and Houts (2012);Khan et al (2017);Lusardi and Mitchell (2014);Lusardi and Mitchell (2017);Robb and Woodyard (2011);Sarigül (2014);Sivaramakrishnan et al (2017);van Rooij et al (2011);Wagland and Taylor (2009); Woodyard (2013);Xiao et al (2014);Walstad et al (2010);and Yildirim et al (2017).…”

mentioning

confidence: 99%

Financial Literacy among the Millennial Generation: Relationships between Knowledge, Skills, Attitude, and Behavior

Dewi¹,

Febrian²,

Effendi³

et al. 2020

AABFJ

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This study aims to determine the level of financial literacy among the millennial generation and to examine the correlation of their financial knowledge, financial attitude, and financial skills with their financial behavior. Multiple choice questions were used to measure financial knowledge with results grouped into three categories: low, moderate, and high. Financial attitude, financial skills, and financial behavior were also grouped using the quartile method into three categories: poor, fair, and good. Chi-squared analysis was used to test the hypotheses, with correspondence analysis conducted to identify the characteristics of the millennial generation and to graphically illustrate the gap. Regarding financial attitude, financial skills, and financial behavior, the proportions of respondents in the 'fair' category, were 70.6%, 66.5%, and 72.2%, respectively. Significant relationships were found not only between financial attitude and financial management behavior, but also between financial skills and financial management behavior. However, the relationship was not significant between financial knowledge and financial behavior.

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“…Biçer's (2016) study with university students reported no statistically significant difference between income levels regarding financial literacy and showed similarities with our results. In similar studies in the literature, significant relationships were found between financial literacy and income level, and it was concluded that as the income level of individuals increased, the financial literacy score increased (Beal & Delpachitra, 2003;Almenberg & Säve-Söderbergh, 2011;Yıldırım, Bayram, Oğuz & Günay, 2017).…”

Section: The Hypothesis "(H3)mentioning

confidence: 85%

“…The reason we have reached this conclusion may be that families inform their family members to take more careful steps financially with the instinct to protect their limited financial resources and try to manage the process (Table 9). Chen and Volpe (1998), Thapa (2015), Agarwalla, Barua, Jacob, and Varma (2015), Yıldırım et al (2017), Çinko et al (2017), Aydın and Selçuk (2019), Douissa (2020), and Tüfekçi and Dilek (2022) reported that monthly family income affects the level of financial literacy and that as income increases, financial literacy levels increase in parallel. It is thought that this result is because families with a higher income level are more likely to include their children in financial problems and situations (Jorgensen & Savla, 2010).…”

Section: The Hypothesis "(H3)mentioning

confidence: 99%

Financial Literacy: Examination of Financial Behavior and Attitudes of Sports Management Department Students

AKGÜL

Göksel

2022

Akdeniz Spor Bilimleri Dergisi

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Financial markets and developments have become more complex, with the developing technology have led to the need for high financial literacy. Therefore, individuals’ self-development in this area will allow them to manage their financial resources more accurately. For the successful financial management of the global sports industry, this area must be supervised by sports managers with a high level of financial literacy. In this direction, the study examines the financial behaviors and attitudes of the students studying in the Department of Sports Management. The sample of the study consisted of 276 students, 98 females and 178 males, who were studying at Muğla Sıtkı Koçman University, Faculty of Sports Sciences, Department of Sports Management in 2021-2022. The data were collected with the descriptive information form prepared by the researchers and the Financial Literacy Attitude and Behavior Scale (FLABS) developed by Sarıgül (2015). While statistically significant differences were found in the variables of gender, class, family monthly income, and following the daily economic and financial news, no significant difference was found in the variables of age, GPA, type of education, individual monthly income, and having received education in economics or finance. The results showed that women are better financially literate than men. Furthermore, it has been found that those who currently follow financial developments have higher averages than those who do not.

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Financial Literacy Level of Individuals and Its Relationships to Demographic Variables

Abstract: Families act in an environment of financing system which includes the pressure of the economic powers. Under these economic conditions, standards of living of individuals who fail to take optimal financial decisions and to

Cited by 15 publications

References 11 publications

Demographic Analysis of Financial Literacy Level in Azerbaijan

Demographic Analysis of Financial Literacy Level in Azerbaijan

Financial Literacy among the Millennial Generation: Relationships between Knowledge, Skills, Attitude, and Behavior

Financial Literacy: Examination of Financial Behavior and Attitudes of Sports Management Department Students

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