Amran, Noor Afza and Sawandi, Norfaiezah and Shaari, Hasnah and Saad, Ram Al Jaffri (2018) Financial Literacy and Financial Management: A Study on Households in Peninsular Malaysia. In: The 4th International Conference on Quantitative Sciences and Its Applications (ICOQSIA 2016), 7-9 Ogos 2018, Pulau Langkawi,Kedah.

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Abstract

This paper examines the level of financial literacy among Malaysian households in terms of financial knowledge in managing their income and debt, financial planning and the elements of financial management. In terms of data collection, questionnaires were distributed to households in Peninsular Malaysia (Kedah, Pulau Pinang, Perak, Selangor, Johor, Kelantan and Terengganu). Based on the analysis carried out, findings reveal that around 25% of Malaysians have done financial planning for their daily expenses. About 44% of the decision on spending is done by the breadwinner (man in the family) and 24% is made by both husband and wife. In terms of financial management, it is found that males are wiser in terms of managing the money. The older group has a better understanding of managing their money as compared to the younger generation. Also, the location and level of education influence the behavior of individuals in managing their money. Thus, relevant authorities, such as Bank Negara Malaysia, need to be more aggressive in educating the public about the importance of financial education and planning.

Item Type:	Conference or Workshop Item (Paper)
Uncontrolled Keywords:	Financial literacy, financial management, income, debt, households
Subjects:	Q Science > Q Science (General)
Divisions:	Awang Had Salleh Graduate School of Arts & Sciences
Depositing User:	Mr. Che Hasan Hashim
Date Deposited:	11 Dec 2018 02:39
Last Modified:	11 Dec 2018 02:39
URI:	https://repo.uum.edu.my/id/eprint/25277

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