Financial literacy and financial health among Malaysian

Financial literacy and financial health among Malaysian

The aim of this research paper is to examine the level of financial literacy and financial health among Malaysian aged between 18 to 45 years old. This research carries out three objectives; (i) to analysis determinants of financial literacy among Malaysian, (ii) to explore strategies to enhance fin...

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Main Author: Flora, Francis
Format: Thesis
Language:eng
eng
Published: 2015
Subjects:
HG Finance
Online Access:https://etd.uum.edu.my/5566/2/s816472_02.pdf
https://etd.uum.edu.my/5566/9/s816472_01a.pdf
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eng
advisor Murugiah, Logasvathi
topic HG Finance
spellingShingle HG Finance
Flora, Francis
Financial literacy and financial health among Malaysian
description The aim of this research paper is to examine the level of financial literacy and financial health among Malaysian aged between 18 to 45 years old. This research carries out three objectives; (i) to analysis determinants of financial literacy among Malaysian, (ii) to explore strategies to enhance financial literacy among Malaysian and (iii) to examine the relationship between financial literacy and financial health in Malaysia. Primary data collection method, through a well-structured questionnaire is used to test the level of financial literacy and financial health among Malaysian. A total of 2500 respondents were randomly selected from Peninsular Malaysia to answer this questionnaire. This study further employed various research design namely, descriptive analysis, correlation analysis, Independent Samples T-Test, One-Way ANOVA and regression analysis using enter and stepwise method to test the level of financial literacy and financial health of individuals in Malaysia. The finding of this study revealed that saving management, investment skills, parent’s characteristics and debt management have a significant correlation with financial literacy. In addition, this study also identified men aged between 18 to 25 years old as well as earn monthly income less than RM1500 are weak in terms of financial literacy. Moreover, results of this study also prove that, certificate holders as well as self-employed are financially illiterate and need to be given extra attention to these groups to enhance their financial literacy level. In this regards, this paper has suggested various strategies to improve the level of financial literacy among Malaysian. The enforcement of financial education start early at primary school level or at pre-school level is the best strategy to enhance the financial literacy of Malaysian. This is because; good financial literacy can save a person from debt burden and bankruptcies as well as help to improve their financial health overall
format Thesis
qualification_name masters
qualification_level Master's degree
author Flora, Francis
author_facet Flora, Francis
author_sort Flora, Francis
title Financial literacy and financial health among Malaysian
title_short Financial literacy and financial health among Malaysian
title_full Financial literacy and financial health among Malaysian
title_fullStr Financial literacy and financial health among Malaysian
title_full_unstemmed Financial literacy and financial health among Malaysian
title_sort financial literacy and financial health among malaysian
granting_institution Universiti Utara Malaysia
granting_department School of Economics, Finance & Banking
publishDate 2015
url https://etd.uum.edu.my/5566/2/s816472_02.pdf
https://etd.uum.edu.my/5566/9/s816472_01a.pdf
_version_ 1747827951012937728
spelling my-uum-etd.55662021-03-18T06:58:40Z Financial literacy and financial health among Malaysian 2015 Flora, Francis Murugiah, Logasvathi School of Economics, Finance & Banking Othman Yeop Abdullah Graduate School of Business HG Finance The aim of this research paper is to examine the level of financial literacy and financial health among Malaysian aged between 18 to 45 years old. This research carries out three objectives; (i) to analysis determinants of financial literacy among Malaysian, (ii) to explore strategies to enhance financial literacy among Malaysian and (iii) to examine the relationship between financial literacy and financial health in Malaysia. Primary data collection method, through a well-structured questionnaire is used to test the level of financial literacy and financial health among Malaysian. A total of 2500 respondents were randomly selected from Peninsular Malaysia to answer this questionnaire. This study further employed various research design namely, descriptive analysis, correlation analysis, Independent Samples T-Test, One-Way ANOVA and regression analysis using enter and stepwise method to test the level of financial literacy and financial health of individuals in Malaysia. The finding of this study revealed that saving management, investment skills, parent’s characteristics and debt management have a significant correlation with financial literacy. In addition, this study also identified men aged between 18 to 25 years old as well as earn monthly income less than RM1500 are weak in terms of financial literacy. Moreover, results of this study also prove that, certificate holders as well as self-employed are financially illiterate and need to be given extra attention to these groups to enhance their financial literacy level. In this regards, this paper has suggested various strategies to improve the level of financial literacy among Malaysian. The enforcement of financial education start early at primary school level or at pre-school level is the best strategy to enhance the financial literacy of Malaysian. This is because; good financial literacy can save a person from debt burden and bankruptcies as well as help to improve their financial health overall 2015 Thesis https://etd.uum.edu.my/5566/ https://etd.uum.edu.my/5566/2/s816472_02.pdf text eng public https://etd.uum.edu.my/5566/9/s816472_01a.pdf text eng public masters masters Universiti Utara Malaysia Aaronson, Susan A. (2001). Taking Trade to the Streets: the Lost History of Public Efforts to Shape Globalization. Ann Arbor: University of Michigan Press. ACNielsen. (2005). Consumer Attitudes towards Aging: A Global ACNielsen Report. Retrieved 28 September, 2015 from http://pt.nielsen.com/ documents/tr_0611 GlobalAging Attitudes.pdf. Al-Tamimi, H., and Bin Kalli, A. (2009). Financial literacy and investment decisions of UAE investors. 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