Integrating financial literacy into economics courses through digital tools: the Finlite app

Abstract

Purpose This study aims to analyze the effect of the Finlite mobile app on the financial literacy of undergraduate business students in Malaysia. Design/methodology/approach This study uses a quasi-experimental pre-intervention design. The data are collected using a quiz and a questionnaire. Cluster sampling is adopted for three different zones in Malaysia. A total of 400 business students enrolled in economics courses participated in the intervention. Findings The results indicate that Finlite significantly promotes students’ savings intentions, practices, decision-making, accountability, values and financial literacy. All results are analyzed based on gender and race. However, Finlite does not significantly help overcome students’ financial issues such as credit card debt and poor spending behavior. Practical implications Financial literacy may be efficiently promoted through digital tools integrated into economics courses. Young adults can make optimal financial decisions after graduation. Future research should explore different courses, addressing undergraduate and high-school students. Originality/value Previous studies predominantly examine attitudes and behaviors related to financial literacy. In contrast, this study measures the ex post impact of the Finlite mobile app on savings intentions, practices, decision-making, accountability, ability to overcome financial issues and value for money.

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