Financial Literacy In Malaysia Journal

The national strategy for financial literacy 2019 2023 was launched by prime minister tun dr mahathir mohamad today.

Financial literacy in malaysia journal. Level of financial literacy in malaysia. Ali a abd rahman ms and bakar a 2015 financial satisfaction and the influence of financial literacy in malaysia. This report reflects the level of financial literacy among malaysians who resident in klang valley. Financial literacy financial education and financial knowledge often have been used interchangeably in academic literature as well as in media.

Kozina ponikvar 2015 defined financial literacy as components of human capital that is used in financial activities to increase an individual s financial well being. One out of three malaysians are not comfortable with their financial knowledge while half of the population 52 say they face difficulties raising even rm1 000 for emergencies. The purpose of this study is to investigate the factors influencing the financial literacy among university students in malaysia. Unfortunately the level of financial capability and financial literacy of malaysians is alarmingly low.

Tan hoe and hung studied financial literacy of malaysian working individuals using financial literacy items developed by lusardi and mitchell 2007a 2007b in their sample population individuals show a high level of financial literacy i e with more than 60 correct answers at the. There are few empirical studies in malaysia that have focused on the financial literacy of gen y investors. This research aims to examine the role played by financial literacy on financial behavior of womenpreneur in malang. Governments around the world are recognizing the benefits to individuals and national economies of having a financially literate population that has access to appropriate financial products with relevant consumer protection in place.

It was formulated by the financial education network fenetwork an inter agency group led by bank negara malaysia and the securities commission malaysia. Planning and managing finances for personal and professional purposes is a lifelong process. Approaches to the future in youth their structural roots and outcomes in adult life. Social indicators research 120 137 156.

Financial literacy was measured using 11 questions modified from lusardi mitchell 2011 and financial behavior was measured using 8 questions taken from infe. Malaysian financial planning council malaysia. Learning and acquiring the necessary skills to do so is invaluable. Data for this study was collected through self.