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Profile and differences in financial literacy: empirical evidence

The increasing cost of living in Malaysia has resulted in individuals and households being more mindful of their wealth management. Financial crises and world geopolitical issues have caused much volatility in returns and market volatility. These economic challenges have impacted the way Malaysians...

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Main Authors: Mokhtar, Nuradibah, Sabri, Mohamad Fazli, Ho, Catherine S. F., Moga Dass, Thinagaran
Format: Article
Language:English
Published: Malaysian Consumer and Family Economics Association 2018
Online Access:http://psasir.upm.edu.my/id/eprint/73653/1/Profile%20and%20differences%20in%20financial%20literacy%20empirical%20evidence.pdf
http://psasir.upm.edu.my/id/eprint/73653/
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spelling my.upm.eprints.736532020-05-11T23:14:36Z http://psasir.upm.edu.my/id/eprint/73653/ Profile and differences in financial literacy: empirical evidence Mokhtar, Nuradibah Sabri, Mohamad Fazli Ho, Catherine S. F. Moga Dass, Thinagaran The increasing cost of living in Malaysia has resulted in individuals and households being more mindful of their wealth management. Financial crises and world geopolitical issues have caused much volatility in returns and market volatility. These economic challenges have impacted the way Malaysians save, spend, manage risks and invest in order to preserve their livelihood. It is therefore vital to understand financial instruments and markets in order to better manage investments and wealth. This research aims to study the level of financial literacy among Malaysians across gender, income, age and ethnicity group. It applies a quantitative study method with a self-administered questionnaire to obtain relevant data. A total sample of 2000 respondents is obtained and results reveal that unfortunately, the majority of Malaysians possess only moderate level of financial literacy. In addition, there are significant differences in female, who are in the above the RM7000 income group, 30 to 39 years old and Chinese in terms of financial literacy. Findings from the study provide a better understanding of the level of Malaysians" financial literacy and implication on policy objectives to further strengthen this area through targeted sustainable financial education. Malaysian Consumer and Family Economics Association 2018 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/73653/1/Profile%20and%20differences%20in%20financial%20literacy%20empirical%20evidence.pdf Mokhtar, Nuradibah and Sabri, Mohamad Fazli and Ho, Catherine S. F. and Moga Dass, Thinagaran (2018) Profile and differences in financial literacy: empirical evidence. Malaysian Journal of Consumer and Family Economics, 21. 164 - 185. ISSN 1511-2802
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
description The increasing cost of living in Malaysia has resulted in individuals and households being more mindful of their wealth management. Financial crises and world geopolitical issues have caused much volatility in returns and market volatility. These economic challenges have impacted the way Malaysians save, spend, manage risks and invest in order to preserve their livelihood. It is therefore vital to understand financial instruments and markets in order to better manage investments and wealth. This research aims to study the level of financial literacy among Malaysians across gender, income, age and ethnicity group. It applies a quantitative study method with a self-administered questionnaire to obtain relevant data. A total sample of 2000 respondents is obtained and results reveal that unfortunately, the majority of Malaysians possess only moderate level of financial literacy. In addition, there are significant differences in female, who are in the above the RM7000 income group, 30 to 39 years old and Chinese in terms of financial literacy. Findings from the study provide a better understanding of the level of Malaysians" financial literacy and implication on policy objectives to further strengthen this area through targeted sustainable financial education.
format Article
author Mokhtar, Nuradibah
Sabri, Mohamad Fazli
Ho, Catherine S. F.
Moga Dass, Thinagaran
spellingShingle Mokhtar, Nuradibah
Sabri, Mohamad Fazli
Ho, Catherine S. F.
Moga Dass, Thinagaran
Profile and differences in financial literacy: empirical evidence
author_facet Mokhtar, Nuradibah
Sabri, Mohamad Fazli
Ho, Catherine S. F.
Moga Dass, Thinagaran
author_sort Mokhtar, Nuradibah
title Profile and differences in financial literacy: empirical evidence
title_short Profile and differences in financial literacy: empirical evidence
title_full Profile and differences in financial literacy: empirical evidence
title_fullStr Profile and differences in financial literacy: empirical evidence
title_full_unstemmed Profile and differences in financial literacy: empirical evidence
title_sort profile and differences in financial literacy: empirical evidence
publisher Malaysian Consumer and Family Economics Association
publishDate 2018
url http://psasir.upm.edu.my/id/eprint/73653/1/Profile%20and%20differences%20in%20financial%20literacy%20empirical%20evidence.pdf
http://psasir.upm.edu.my/id/eprint/73653/
_version_ 1669008825292685312
score 13.211869

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