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The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers

Indonesian migrant workers (IMW) face life difficulties after returning back to Indonesia. This is a contrary condition considering their contribution to their home family in Indonesia while working abroad. Literature mentions that their financial planning is the root of the poverty of ex-IMW. There...

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Main Authors: Brahmana, Rayenda Khresna, Brahmana, Ritzky Karina
Format: Article
Language:English
Published: University of Economics, Prague 2016
Subjects:
HG Finance
Online Access:http://ir.unimas.my/id/eprint/16947/1/Rayenda.pdf
http://ir.unimas.my/id/eprint/16947/
https://www.vse.cz/aop/
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spelling my.unimas.ir.169472022-02-04T07:24:32Z http://ir.unimas.my/id/eprint/16947/ The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers Brahmana, Rayenda Khresna Brahmana, Ritzky Karina HG Finance Indonesian migrant workers (IMW) face life difficulties after returning back to Indonesia. This is a contrary condition considering their contribution to their home family in Indonesia while working abroad. Literature mentions that their financial planning is the root of the poverty of ex-IMW. Therefore, this research adopts literacy theory to explain this phenomenon. This research conducted a survey among 548 ex-IMW and measures their financial literacy and financial planning. This research also maps their asset ownership to examine the relationship between financial literacy and asset ownership. Overall, this research documents that financial literacy contributes statistically significantly and positively to financial planning. Furthermore, this research shows that asset ownership is closely related to financial literacy. In a nutshell, this research concludes that it is important for migrant workers to have good knowledge of financial issues, because having good financial literacy helps the migrant workers to plan their finance and budget much better, thereby helping them to avoid the poverty trap. Therefore, policymakers such as migrant worker authorities and/or Indonesian embassies abroad have to institute financial education programmes for migrant workers before they return to Indonesia. University of Economics, Prague 2016 Article PeerReviewed text en http://ir.unimas.my/id/eprint/16947/1/Rayenda.pdf Brahmana, Rayenda Khresna and Brahmana, Ritzky Karina (2016) The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers. Acta Oeconomica Pragensia, 24 (5). ISSN 0572-3043 https://www.vse.cz/aop/ DOI 10.18267/j.aop.557
institution Universiti Malaysia Sarawak
building Centre for Academic Information Services (CAIS)
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Sarawak
content_source UNIMAS Institutional Repository
url_provider http://ir.unimas.my/
language English
topic HG Finance
spellingShingle HG Finance
Brahmana, Rayenda Khresna
Brahmana, Ritzky Karina
The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
description Indonesian migrant workers (IMW) face life difficulties after returning back to Indonesia. This is a contrary condition considering their contribution to their home family in Indonesia while working abroad. Literature mentions that their financial planning is the root of the poverty of ex-IMW. Therefore, this research adopts literacy theory to explain this phenomenon. This research conducted a survey among 548 ex-IMW and measures their financial literacy and financial planning. This research also maps their asset ownership to examine the relationship between financial literacy and asset ownership. Overall, this research documents that financial literacy contributes statistically significantly and positively to financial planning. Furthermore, this research shows that asset ownership is closely related to financial literacy. In a nutshell, this research concludes that it is important for migrant workers to have good knowledge of financial issues, because having good financial literacy helps the migrant workers to plan their finance and budget much better, thereby helping them to avoid the poverty trap. Therefore, policymakers such as migrant worker authorities and/or Indonesian embassies abroad have to institute financial education programmes for migrant workers before they return to Indonesia.
format Article
author Brahmana, Rayenda Khresna
Brahmana, Ritzky Karina
author_facet Brahmana, Rayenda Khresna
Brahmana, Ritzky Karina
author_sort Brahmana, Rayenda Khresna
title The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
title_short The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
title_full The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
title_fullStr The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
title_full_unstemmed The Financial Planning and Financial Literacy of Ex-Malaysia Indonesian Migrant Workers
title_sort financial planning and financial literacy of ex-malaysia indonesian migrant workers
publisher University of Economics, Prague
publishDate 2016
url http://ir.unimas.my/id/eprint/16947/1/Rayenda.pdf
http://ir.unimas.my/id/eprint/16947/
https://www.vse.cz/aop/
_version_ 1724078573423165440
score 13.211869

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